Stellar announces Protocol Update 17. What You Need to Know

Stellar developers have announced an update to Protocol 17, which is scheduled for early May of this year. We recommend installing the new software today.

New features and features of Stellar

The developers of Stellar announced the update of protocol 17, which is scheduled for May 4, 2021. After the network upgrade, new features will be available to users, such as Asset Clawback-asset recovery. Thanks to this feature, the issuer can return or reissue funds if it is determined that they are of fraudulent origin.

The changes will also affect other software, including Stellar Core, Horizon, and the Stellar SDK. Despite the fact that the update is still a week away, the developers are asking to update the software today to avoid possible problems with the network in the future. Detailed information about the updates can be found on the official website of the project.

For Horizon users:

If you are using an older version of Horizon, you will not be able to accept or request resource return operations after the upgrade.

“By default, v2. 2. 0 deploys the new Horizon architecture . It runs a mini-core (also known as Captive Core) as a Horizon subprocess, so you don’t need to run a standalone Stellar Core node, and you don’t need to take any additional steps to upgrade Stellar Core. Just update Horizon to this version, and you’re done, ” the company says.

For Stellar Core users:

If your node is running Stellar Core version before 17.0.0 when updating the network, it will throw an error and lose synchronization.  After that, you can update the software to Stellar Core v17.0.0.

For users of individual solutions, you need to make changes to the code manually. For advice, you can contact the developers directly.

Stellar focuses on the needs of central banks

According to the developers, the new asset return function will be an additional advantage for using the blockchain in the development of CBDC, as it allows you to control the movement of assets and detect fraudulent transactions. Note that several stablecoins have already been created on the basis of the Stellar platform. Also, the Ministry of Digital Transformation of Ukraine and the SDF signed a memorandum of understanding, which states that the parties intend to create an ecosystem of digital assets and a national digital currency of Ukraine.

This popularity of Stellar among institutional and government customers has a positive impact on the value of the XLM token. To date, the value of the coin is $0.48, and the total capitalization exceeds $11 billion.

XML price dynamics. Source: CoinMarketCap

Recently, it became known that one of the most popular USDC stablecoins has moved to the Stellar blockchain.


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