Stellar skipped Protocol 14 Upgrade in September 2020 after it faced a critical bug during the testing phase of the protocol.
Since then, the Stellar community has been closely watching out for the launch of Protocol 15, which was finally rolled out on Nov 23, 2020.
Stellar Protocol 15 Public Upgrade is Live
The Head of Stellar Development Foundation ecosystem Justin Rice notified the community with a blog post.
He said that the Stellar App has been launched on the Stellar test net with great effect. Claiming the launch to be highly significant, he notified the community that it comes with two distinguishable improvements that eases the process of creating apps on the blockchain and making it more efficient and straightforward. Sponsored Reserves and Claimable Balance features are introduced to empower better app development on the Stellar blockchain.
Justice Rice noted that both the features are deployed on the test net, and they are excited to see what the developers do with it in the production environment.
Stellar brings Sponsored Accounts and Claimable Reserves.
The Reserves Upgrade allows the users to pay for the base reserves for the other Stellar users. The sponsoring accounts would be able to accumulate funds on their sponsored accounts. The Sponsored Reserved Account feature facilitates operations to be carried out in a single transaction transparently. Claimable reserves allow the payments to be split into two, allowing the funds to be transferred later if the recipient and the sender’s amount are matched. Investors can thus shell out funds for future dates enabling uses to pay essential reserves for the other account.
It allows the sponsoring accounts to claim the balance that is sponsored. The balance can be used to make base reserve payments. The users can view their claimable balance on the network and how their balance works within the sponsorship logic within the system as per the agreement.
Stellar intends to create a universal, open-source, and decentralized platform that helps users sustainably develop their applications on the platform.
After the Protocol 15 upgrade announcement, the prices of the Stellar Token XLM have increased by a whopping 68 percent, taking to a high of $ 017. The company garnered much attention last month with its Stablecoin launch for Argentina and Brazil in partnership with Settle Network.
Disclaimer
The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.
