While specific details regarding this momentous change remain shrouded in secrecy, industry insiders speculate that it could signify a groundbreaking partnership or a game-changing technological advancement.

Read Also: Stellar Welcomes WhiteBIT to MoneyGram Access to Enhance Crypto-to-Cash Services

Teasing an Unveiling

Stellar’s enigmatic tweet, accompanied by the cryptic description of “brand,” left enthusiasts intrigued and eager to uncover the truth. Stellar boldly proclaimed that it is poised to bring its platform into the real world, lifting the boundaries of traditional finance to new heights.

A tweet posted on September 7th declared, “Change is in the air, and the category is brand. We’re bringing Stellar to the real world in 5 days. Keep your eyes locked.”

Change is in the air, and the category is: brand. We’re bringing #Stellar to the real world in 5 days.

Keep your eyes locked! pic.twitter.com/0X5ENxu7Xz

— Stellar (@StellarOrg) September 7, 2023

This cryptic announcement follows Stellar’s initial revelation on September 2nd, where it teased that “something cool was dropping” and set the stage for an exhilarating transformation.

A concise countdown accompanied the announcement, intensifying the anticipation within the community. September 12th marks the fateful day when the veil will be lifted, promising a glimpse into Stellar’s highly anticipated innovation. As of today, only four days remain in the countdown, fueling both excitement and curiosity among Stellar’s supporters.

Potential Collaborative Advancements

Although the specifics remain a mystery, it’s crucial to consider the recent strides made by Stellar.

Notably, the Stellar Development Foundation, a nonprofit organization devoted to advancing the Stellar network, made a significant investment in payment behemoth MoneyGram International back in August.

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— TimesTabloid (@TimesTabloid1) July 15, 2023

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This strategic partnership further solidified Stellar’s influence in the realm of global payments, enabling them to contribute to MoneyGram’s digital expansion and explore the untapped potential of blockchain technology.

It is plausible to speculate that the impending innovation might align with these collaborative efforts, revolutionizing the way financial transactions are conducted.

Stellar (XLM) in the Market

While the community eagerly awaits Stellar’s grand reveal, the price of XLM, the native token of the Stellar blockchain, showed a marginal increase of 0.68% within the last 24 hours, steadying at $0.123. The market seems cautiously optimistic, seemingly undisturbed by the mounting anticipation surrounding Stellar’s imminent announcement.

As the clock ticks down to the much-anticipated date, all eyes remain fixated on Stellar, witnessing its audacious leap into the real world. When the veil is lifted, the financial landscape may be forever transformed, ushering in a new era of innovation, collaboration, and boundary-pushing technology.

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The post Stellar Lumens (XLM) Counts Down to a Major Announcement: Details appeared first on Times Tabloid.

According to the report, the Stellar Lumens network upgrade will take place at on the 8th of June 2022 at 15:00 (UTC). During the upgrade, deposits and withdrawals of the digital token XLM on the trading platform will be suspended.

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Binance exchange tweeted, “Binance Will Support the Stellar Lumens (XLM) Network Upgrade.”

#Binance will support the Stellar Lumens $XLM network upgrade. https://t.co/rdLiKdPzQw

— Binance (@binance) June 8, 2022

In a blog post captioned in the announcement, the exchange wrote:

“The Stellar Lumens (XLM) network upgrade will take place approximately at 2022-06-08 15:00 (UTC). Deposits and withdrawals of XLM will be suspended approximately starting from 2022-06-08 14:00 (UTC).”

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According to the exchange, users that are holding XLM are to note that:

1. The trading of XLM will not be affected during the network upgrade.
2. The Stellar Lumens (XLM) network upgrade will take place approximately at 2022-06-08 15:00 (UTC). The estimated time is for users’ reference only.
3. Binance will handle all technical requirements involved for all users holding XLM in their Binance accounts.
4. We will reopen deposits and withdrawals for XLM once we deem the upgraded network to be stable, and we will not notify users in a further announcement.
   

   ---

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In a video shared on 25th January, Justin Rice, the head of Stellar Development Foundation (SDF), said smart contracts will bring a new suite of products and services to the Stellar ecosystem.

Read Also: Stellar (XLM) Proposes Entirely New Method of Executing Smart Contracts

Justin Rice noted:

“There’s a lot of work to be done to get there, but at SDF we’re committed to researching and shepherding the development of the code and creating community engagement around an implementation.

The goal is to have Stellar remain one of the most accessible networks for developers so they can deliver high quality and safe applications to their users, while also allowing it to adapt and respond to the competitive blockchain landscape.”

Smart contracts are coming to Stellar. pic.twitter.com/jwMnsvod5T

— Stellar (@StellarOrg) January 25, 2022

Read Also: In Partnership with Stellar Development Foundation, Tribal Credit Raises $40M in Hybrid Debt Round

Stellar is an open network for storing and moving values. XLM, its native token, is basically used as a bridge currency between two fiats currencies when moving money across the border.

In a series of tweets on 26th January, Tomer Weller, the vice president of tech strategy at Stellar Development Foundation, outlines the estimated time for smart contracts implementation on the network:

 “We’re aiming for a feature-complete test network by the end of 2022. Ultimately, the ecosystem will decide if and when to turn on smart contracts on Stellar.”

Read Also: Stellar Development Foundation Moves to Take Over MoneyGram

Stressing the reason for smart contracts implementation, Weller said, “Stellar enables equitable access to the financial system. DeFi is becoming a major part of that system. DeFi isn’t new to Stellar. It’s been core to the protocol with a built in DEX from the get go (before “DEX” was popularized), and AMM functionality became available in ‘21.”

It can be recalled that in October 2021, the SDF announced a new partnership with the payments giant MoneyGram to leverage Stellar blockchain in order to facilitate cross-border payments.

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The post Stellar (XLM) Announces Plans to Roll out Smart Contracts in 2022 appeared first on Times Tabloid.

As a report has it, the method will be based on Turing Signing Servers (TSS). With advanced performance, it will empower decentralized finance (DeFi) on Stellar blockchain.

In a blog post published on 21st July 2021 by Stellar Community, TSS is described as a network of servers known as turrets, which store smart contracts and will build and sign transactions according to uploaded smart contract specifications at a user’s request.

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The report reads in part as follows:

“TSS thus enables trust-free DeFi protocols on Stellar without requiring an on-chain virtual machine. As a result, the smart contract engine adds no inordinate congestion to the network and retains the efficiency offered by Stellar.”

This means that users can upload smart contracts to any turret which will in turn create a keypair it will use to sign transactions generated by the smart contract and later return the public key of the keypair to the user.

The combination of this network with Stellar’s multi-sig capabilities activates trustless decentralized finance (DeFi) protocols on the Stellar blockchain.

The blog post reads further:

“The developer uploads the DeFi protocol’s smart contracts to multiple trusted turrets and adds the associated public keys as signers on the protocol accounts. Next, the developer modifies the protocol account’s signer weights and thresholds to require most turrets to sign a transaction before it is valid. Then users can run the smart contract by running it across all turrets and aggregating the returned signatures until they have a sufficiently signed transaction.”

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The project, Venus, is targeted at building a secure and reliable network of servers and at implementing short-term forward contract capabilities on Stellar blockchain.

How is this New Method Better than Ethereum’s

The fact that the new method notably reduces transactional pressure on the network. And the fact that part of data is processed off-chain makes it much more resource-efficient than Ethereum.

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