Stellar Foundation has begun to revitalize the Stellar development space with the launch of Soroban, and is now giving it a boost with over $100 million to build applications on this platform.
The Stellar Foundation, the renowned platform behind the development of the Stellar Blockchain, has taken a significant step with the launch of Soroban. This is an advanced smart contract platform developed by the Stellar Blockchain, which seeks to improve the development experience and real-world utility.
Soroban is built with a focus on ease of use for developers, using the Rust programming language, known for its security and efficiency. In fact, this programming language is the same one currently used in another large blockchain: Solana. In addition to all this, Soroban has an execution environment (the equivalent of a virtual machine) that uses WebAssembly (WASM), which allows greater interoperability and the possibility of using a wider range of programming languages to create decentralized applications. .
All of this power will be available within the Stellar Network, a blockchain network that stands out for being a faster, cheaper and more energy efficient network compared to many other blockchain-based platforms. Without a doubt a set of capabilities that will allow Stellar to evolve and address the current and future needs of a growing ecosystem of blockchain solutions.
Extensive capabilities
After all, users and businesses using Soroban can expect a number of benefits, including:
- Global Access: Supported by over 180 countries and over 20 digital assets, Soroban promises global reach, allowing users to access a variety of payment services.
- Fast Processing Time: An average ledger close time of 5.8 seconds indicates that transactions are processed quickly.
- Supporting Innovation: Through grants and promoting a global ecosystem of innovators, Soroban positions itself as a facilitator for the creation of digital asset products and services.
This represents an ambitious attempt by the Stellar Foundation to expand its impact in the blockchain space and compete with Ethereum and XRP by offering an alternative that promises to be more inclusive, efficient and accessible. The platform is already generating interest in the developer community and could become a key player in the space of smart contracts and decentralized applications.
With the upgrade to “Protocol 20” and the integration of Soroban into the Stellar mainnet, the Stellar Foundation is preparing for a new era of smart contracts in hopes of attracting a greater number of users and projects, consolidating its position in the blockchain industry.
More than 100 million dollars for the development of Soroban
In addition to all this, the Stellar Foundation has also announced a significant investment in the blockchain ecosystem, allocating $100 million USD in order to boost the development of applications within Soroban. This strategic move is positioned as a direct effort to compete in the Ethereum-dominated market.
This investment represents a significant step for Stellar's expansion into the world of smart contracts and decentralized finance. With a focus on speed, scalability and ease of use, Soroban has the potential to change the current financial services landscape and offer real competition to Ethereum. Interested developers can find more information and resources on the site Stellar official website.
In this way, Stellar's vision and its focus on financial inclusion and transaction efficiency, together with the new technology that Soroban brings, suggests a promising future for this platform in the world of cryptocurrencies and digital finance.
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