The Stellar network has been preparing to support smart contracts through the Soroban platform that has been in development for the past two years with an initial funding of $100 million.
Anyone who runs Stellar-associated software has been informed to update the respective versions before January 30, 2024, when the public network will be upgraded to enable it to support DeFi protocols.
Stellar Lumens (XLM), a peer-to-peer decentralized network backed by a strong online community and the Stellar Development Foundation, has grown into a mature ecosystem since its inception in 2014. The Stellar network through its distributed ledger technology has been making cross-border payments cheaper, faster, and more secure for both retail and institutional investors.
As a result, the Stellar network has grown to compete with the Ripple-backed XRPL (XRP), which has significantly reduced their future growth prospects. In a bid to reimagine a brighter future, the Stellar network forged a new plan to

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