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Crypto news: The Stellar blockchain, originally conceived as a payment platform, is currently undergoing a significant transformation to integrate “smart contracts.”  This revamp, underway after nine years since the project began, aims to make it more attractive to new applications and a broader user base. In addition, this evolution is expected to trigger a growing demand for the XLM token.  Let’s look at all the details below.  A smart contract competition with Ethereum: Stellar wants to redefine the future of crypto  As anticipated, Stellar, a payments-oriented project with nine years of history, a strong developer community, backing from a wealthy foundation and ties to MoneyGram, is about to undergo a significant transformation.  Initially designed as a blockchain to enable the transfer of value from A to B, Stellar is now embracing “smart contract” technology. Recall that a “smart contract” project enables the deposit of a programming code on a blockchain, acting as a distributed computer, and allows developers to create applications for decentralized finance (DeFi) and other purposes.  Also, as we know, although Ethereum is the dominant smart contract platform, there are numerous alternatives, including Solana, Aptos, Sui, Algorand, and projects in the Cosmos ecosystem. Stellar is now supported by “Soroban,” a blockchain project dedicated to smart contract integration, with implementation expected by the end of the year. As a result, this move could represent one of the most significant upgrades to the Stellar network since its creation in 2014. Tomer Weller, Vice President of Product at the Stellar Development Foundation, stressed the importance of decentralized finance in the future and said they want to make it accessible to Stellar users. The Soroban upgrade could lead to more activity on the Stellar network, triggering potential additional demand for the project’s native token, XLM.  Over the course of the year, the…

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Filed under: News - @ October 19, 2023 4:26 pm