Stellar Network offers smart contract functionality in phases

Stellar Network has clarified that it will be rolling out its smart contract functionality in a phased manner. Protocol 20 goes into effect after the community members vote on it. A favorable outcome would pave the way for the next phases to commence. Transitioning from Protocol 19 to Protocol 20 will set it off. The idea behind setting up different phases is to review or monitor the impact of implementing the functionality on the network. Per the official statement of the Stellar Development Foundation, transactions will not be affected.

A transition to Protocol 20 is expected to be the most transformative upgrade to the network. Its phased implementation will assist in maintaining the security, performance, and stability of the network as a whole.

The 2-year endurance goes on the floor for validators to vote for Protocol 20. This would take the functionality live on Mainnet and initiate the phased rollout. Phase 0 will come after it, then Phase 1, and then Phase 2. Phase 0 will focus on testing stability. Phase 1 will uptick Sorobon transactions, simultaneously enabling applications to target native deployment. Phase 2 will conclude the process, and the capacity of the ledger will continue to increase with time.

Phase 0 will focus specifically on smoke-testing systems, reviewing the basic contract execution, and leveraging contract calls to upload network configuration. Developers have been recommended not to leave the scope of the testnet, for it will have sufficient capacity for testing and development purposes. To reiterate, Phase 0 goes live only after a positive outcome from the validator vote.

The usability of smart contracts will increase in Phase 1. It has been titled Deploy & Monitor. The expansion of usability will depend on the kind of feedback users provide and how the network keeps up with the pace. That constitutes the aspect of the network’s health wherein deterioration will bring things to the back foot.

Another objective is to study the impact on network performance and increase the capacity of Soroban transactions.

Phase 2 is pretty much where users jump in. The user-ready mainnet will open the doors for every developer to deploy the smart contract for interaction with the community. It is expected to mark a pivotal moment for the Steller Network since it is the beginning of smart contract functionality on the network. More capabilities and expansion will make their way into the network.

Stellar Network is evolving. The phased rollout of Protocol 20 ensures that the evolution is sustainable with no compromise on key elements like performance and security. The end goal is to enhance the user experience and offer an optimized journey to developers.

Protocol 20 guide is live on the official website of Stellar. It is the basic foundation for developers on Stellar Network to understand how the upgrade affects them. They can further explore how best to use the smart contract functionality in the ecosystem.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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