Stellar Launches Soroban: Expands Smart Contracts on Network

Last updated: March 20, 2024 11:13 AM

Published March 20, 2024 5:10 AM

Last updated: March 20, 2024 11:13 AM

Published March 20, 2024 5:10 AM

Stellar Development Foundation (SDF) announced the creation of Soroban, a smart contracts platform built on the Stellar network. The announcement is a turning point in Stellar’s ten-year history. Soroban’s mainnet phase 2 is now live and running with the full staking system, opening up an opportunity for the deployment of User-ready dapps.

Smart contracts are live!

Today, we're thrilled to announce a major milestone on the #Stellar Mainnet journey: the training wheels are off, and all restriction limits have been lifted!

Our only question is: What will you build?https://t.co/o9yzo3iC0O
— Soroban (@SorobanOfficial) March 19, 2024

Soroban deploys a WebAssembly (WASM) solution to offer developers new platforms for smart contract deployment, thereby providing a great enlargement of the application ecosystem on the Stellar blockchain.

Stellar opens wide exploitation of its functionality besides protocol to crypto payments and brings DeFi services under its domain. Soroban is the top priority at SDF, and SDF is trying to fill the fund of the adoption Soroban Fund with $100 million to drive the new platform development.

More than 160 projects have received the adoption Fund money, which focuses on using Stellar features to swell smart contract applications for rates, bridges, and financial platforms like Sworoswap and Blend.