Stellar Network Rolls Out Protocol 15 Upgrade, Adding Two New Payment Features; XLM Surges
Stellar blockchain network has upgraded to protocol 15, according to a blog post announcement on Nov 23. The publication was sent out by Stellar Development Foundation Ecosystem lead, Justin Rice; it highlights two new features: ‘make it easier than ever to build user-friendly apps on Stellar.’ The new functions are Sponsored Reserves and Claimable Balances.
According to the blog post, these new features are already changing Stellar’s ecosystem when it comes to hosting user-friendly DApps,
“We've already seen both deployed to great effect on the testnet, and we're excited to see what you can do with them in a production environment.”
Notably, Stellar skipped protocol 14 after a critical bug was discovered in this update while in the testing phase. The previous protocol ‘13’ had been voted for by the validator nodes in June; improvements in this upgrade included fee bump transactions and advanced asset authorization control.
Stellar’s Protocol 15 Upgrade
This milestone was first announced in October, although the project had been a work in progress for several months. The upgrade went live on Nov 23 at 1600 UTC, and users have since been advised to install software that supports the latest protocol. According to the blog,
“Stellar Core will immediately throw an error if it's not up to date, but Horizon and the Stellar SDKs may function as normal for a bit until they encounter — and are baffled by — one of the new operations.”
The value proposition in claimable balances can split payments into two by creating a new ledger entry. Stellar users can create a balance and claim a balance, which means that they can send an asset, regardless of the receiving account's state.
On the other hand, Sponsored Reserves open up the window for funding innovations with Lumens (XLM) while maintaining control. An earlier blog post highlighted that,
“It also adds new extensions to account entries and ledger entries to record pertinent information about sponsorships.”
XLM Price Bullish
Meanwhile, the XLM price is currently bullish, having gained 72.6% within the past 24 hours. The coin is currently trading at $0.189 while its total market cap is well over $3 billion, according to metrics site Coingecko.