Home Altcoins News Stellar Foundation Postpones Protocol 20 Upgrade: What You Need to Know

Stellar Foundation Postpones Protocol 20 Upgrade: What You Need to Know

In a recent turn of events, the Stellar Development Foundation (SDF) has announced a delay in its highly anticipated Protocol 20 upgrade, citing a critical bug within its software. This delay, while unforeseen, underscores the complex nature of blockchain technology and the meticulous attention required in its development.

The Stellar blockchain, renowned for its innovative approach to digital currency, had set its sights on integrating Ethereum-style smart contracts into its system. However, a bug discovered in the Stellar Core v20.1.0 software has thrown a wrench into its plans, prompting the foundation to reassess its timeline and approach.

The bug, identified on January 25, poses a significant risk to applications and services utilizing the new “Soroban” smart contracts. Specifically, it pertains to scenarios where a Soroban transaction request results in a fee-bumped refund failure, disrupting the flow of transactions within the network.

The bug, identified by the SDF on January 25, revolves around scenarios where a “Soroban” transaction request leads to a fee-bumped refund that fails to reach the correct account. Initially perceived as a minor risk, the bug’s gravity became evident after extensive feedback from the developer community, prompting the foundation to adopt a cautious stance.

Responding to the situation, the SDF plans to “disarm” its validators, preventing them from voting for the network upgrade on the initially targeted date of January 30. This decision is not unilateral, as reports suggest that six of the seven tier-1 validators, including industry names like Satoshipay, Blockdaemon, and Lobstr, are in alignment with the SDF’s cautious approach. This collective move signals a strong likelihood of the upgrade’s postponement, as the minimum number of votes required, known as the quorum, seems unattainable under the current circumstances.

Despite the potential setback, the market’s response has been notably stable. Stellar’s native cryptocurrency, XLM, has maintained a steady trading price, hovering around $0.1142, with a minimal 24-hour decline of 1.11%. This resilience in the face of uncertainty reflects a measured reaction from investors and users within the Stellar ecosystem.

Initially perceived as a minor hiccup, the gravity of the situation became apparent as feedback poured in from the developer community. Recognizing the potential ramifications, the SDF made the prudent decision to delay the upgrade vote scheduled for January 30, opting instead for a cautious approach to address the underlying issue.

Crucially, the decision to postpone the upgrade does not rest solely with the SDF but also involves key validators within the Stellar network. Reports indicate a consensus among the majority of tier-1 validators to align with the foundation’s stance, signaling a unified front in prioritizing the network’s stability and security.

Despite the uncertainty surrounding the upgrade, market response has remained relatively stable, with Stellar’s native cryptocurrency, XLM, maintaining its trading price. This resilience reflects a measured reaction from investors and users, highlighting confidence in the foundation’s ability to navigate through challenges and uphold the network’s integrity.

Looking ahead, the SDF is actively working towards a resolution, with plans to address the bug and coordinate with validators to determine a revised timeline for the upgrade vote. This proactive approach underscores the foundation’s commitment to transparency and ensuring a seamless transition to the new protocol.

The delay in the Stellar blockchain’s upgrade marks a pivotal moment in its evolution since forking from the Ripple protocol in 2014. The integration of Soroban smart contracts represents a strategic endeavor to enhance Stellar’s transaction capabilities and position it competitively within the digital currency landscape.

As the foundation navigates through this challenging period, it serves as a testament to the resilience and adaptability inherent in blockchain technology. While setbacks are inevitable, it is the collective effort and unwavering commitment to innovation that propel the industry forward, paving the way for a future defined by possibility and progress.

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Pankaj K

Pankaj is a skilled engineer with a passion for cryptocurrencies and blockchain technology. With over five years of experience in digital marketing, Pankaj is also an avid investor and trader in the crypto sphere. As a devoted fan of the Klever ecosystem, he strongly advocates for its innovative solutions and user-friendly wallet, while continuing to appreciate the Cardano project. Like my work? Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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