The Currency Analytics
By Ayobami Abiola
The Stellar Development Fund, SDF, has been working very hard towards increasing the User Experience of the protocol especially for the non-crypto and new crypto enthusiasts.
On October 7th, SDF introduced Protocol 14 improvements, a proposition that will be voted on by stellar devs on 28th October.
“Stellar is designed to connect the world's financial infrastructure, and Protocol 14 introduces two new features — Claimable Balances and Sponsored Reserves — that make it…
Stellar accounts or wallets operate on minimum balances, this means new users need a minimum balance to make their account active, to send and receive assets for transaction fees.
Protocol 14 sponsored reserves allows developers an account to sponsor Lumen (XLM) reserves for another without giving over the control of the underlying funds:
It means developers can now effectively activate new Stellar accounts for their users by sponsoring their minimum balances without giving over the funds.
Claimable balances also allows developers to send new assets to their users without waiting for them to create Trustlines for the asset. Stellar users have to use 0.
“Starting with Protocol 14, anchors can accept an off-network user deposit and immediately create an equivalent on-network Claimable Balance that the user can collect in their…
Stellar's focus on creating a great crypto experience is a foundation and a step towards its full-blown adoption. Protocol 14 is an answered prayer to many developer's pain.