Stellar has made a significant leap forward in its blockchain capabilities with the activation of Protocol 23. This upgrade is set to enhance transaction efficiency and developer experience, marking a pivotal moment for the network. The material points to an encouraging trend:
Introduction of Parallel Smart Contract Execution
The introduction of parallel smart contract execution is a key feature of Protocol 23, allowing Stellar to boost its transaction throughput to an impressive 5,000 transactions per second. This improvement not only accelerates processing times but also reduces transaction costs, making the platform more attractive for developers and users alike.
Temporary Halts in Deposits and Withdrawals
In light of these substantial changes, several exchanges temporarily halted deposits and withdrawals to ensure a smooth transition. This precaution underscores the importance of the upgrade and its potential impact on the ecosystem.
Future Prospects with Protocol 23
With Protocol 23 in place, Stellar is poised to foster greater developer adoption and unlock new opportunities for asset tokenization within the decentralized finance (DeFi) sector, positioning itself as a competitive player in the evolving blockchain landscape.
As the cryptocurrency landscape evolves, the focus on interoperability continues to gain momentum, particularly highlighted by the recent collaboration between Curve Finance, Circle's USDC, and eToro on the XDC Network. This partnership not only aims to enhance seamless integration across blockchain platforms but also sets the stage for further developments in the sector. In this context, BTCC has recently made headlines by releasing a comprehensive Proof of Reserves (PoR) report, showcasing its strong reserve ratio of 143, which underscores the importance of financial stability in the cryptocurrency market. For more details on BTCC's announcement, read the full report here.
