The Stellar Network has outlined its strategy for introducing smart contract functionality in a methodical, phased manner. The rollout will begin with Protocol 20, pending community approval through a voting process. Successful adoption of Protocol 20 will serve as the catalyst for subsequent phases. Transitioning from Protocol 19 to Protocol 20 will initiate this progression. The rationale behind this phased approach is to carefully assess the impact of implementing smart contract functionality on the networkNetwork The set of computers connected to each other, called nodes, on which the blockchain of a specific cryptocurrency is based.. According to the Stellar Development Foundation’s official statement, transactionsTransaction Exchange of value, property, or data between two parties. will remain unaffected during this transition period.
Validators will have a 2-year window to vote for the adoption of Protocol 20, effectively enabling the functionality on the Mainnet and kickstarting the phased rollout. Phase 0 will follow, succeeded by Phase 1 and then Phase 2.
Phase 1, aptly named “Deploy & Monitor,” will witness an increase in the practical application of smart contracts. The extent of usability enhancements will be contingent upon user feedback and the network’s ability to adapt. This underscores the importance of network health, as any deterioration could impede progress.
Phase 2 represents the point at which users actively engage with the system. With the user-ready mainnet, developers will have the opportunity to deploy smart contracts for community interaction. This phase is anticipated to mark a significant milestone for the Stellar Network, as it marks the introduction of smart contract functionality. Subsequent phases will see further enhancements and expansions to the network’s capabilities.
The Protocol 20 guide is now available on the official Stellar website, serving as a foundational resource for developers seeking to understand the implications of the upgrade. Developers can explore how to effectively leverage smart contract functionality within the Stellar ecosystem.