Stellar Network Initiates Protocol 21 Activation on Testnet

According to U.Today, Stellar (XLM) has recently achieved a significant milestone by activating Protocol 21 on its testnet. This development marks a crucial phase for the Stellar network as it begins the countdown to the upgrade's mainnet activation. On June 18, 2024, Stellar public network validators will cast their votes on whether to upgrade the network to Protocol 21. If approved, this will activate five new Core Advancement proposals on Stellar Mainnet. These five Core Advancement Proposals (CAPs) introduce new features such as passkey signing support, an improvement to the state archive, and several cost improvements for smart contract transactions. Stellar remains committed to continually enhancing network efficiency and reducing fees. Its network aims to provide equal access to the global financial system. CAPs 0054, 0055, and 0056, which will be deployed as part of the protocol 21 upgrade, are designed to keep the Stellar network accessible and cost-effective for all users. On February 20, 2024, validators voted to upgrade to Protocol 20, which introduced Soroban smart contracts to Stellar's public network. Since then, developers worldwide have successfully deployed smart contracts to the Stellar Mainnet. With Protocol 21 now live on the testnet, the focus shifts to preparing for its deployment on the mainnet. This process will require careful coordination and testing to ensure a smooth transition. Once implemented on the mainnet, Protocol 21 is expected to unlock new scalability and functionality for the Stellar network. As the testnet upgrade has now gone live, key dates have been updated to reflect this upgrade, and version numbers were added to Protocol 21 release links to reflect the minimum supported versions. The key dates following the testnet upgrade include May 30 for stable releases of Stellar Core, Horizon, RPC, June 11 for the testnet reset to ensure all new implementations perform optimally, and June 18 for the vote to upgrade the mainnet to Protocol 21. Update votes are programmatic as they are part of a regular round of consensus and, if approved, the update will take effect immediately.