Stellar News: If validators vote in favor of the upgrade, the Stellar (XLM) Blockchain can be upgraded to Protocol 17 today. The Stellar Development Foundation (SDF) mentioned possible Protocol 17 improvements in a blog post published May 19.
According to the developer of the Stellar Blockchain, the update will be made immediately if the vote is valid. The foundation also recommended that anyone working on Stellar should be ready to install updated versions of all Stellar-related software.
What features are included in the routine update?
SDF releases new versions of the Stellar Protocol several times each year to add new and updated features to meet the needs of consumers. Along with validator approval, protocol upgrades require everyone creating the Stellar Protocol to install new versions of the Stellar Core, Horizon, and Stellar SDKs.
Installing required versions also expands networking capabilities. In addition, the installation allows developers to create new and improved products and services on the network.
Stellar will be upgraded to Protocol 17
In its blog post, SDF highlighted fee increases, claimable balances and sponsored reserves as features included in recent protocol changes. This feature helps to easily design user-friendly experiences. Later in the post, SDF also talked about a new feature of Protocol 17 that allows for new possibilities to release regulated assets on the Stellar network.
The foundation said the asset buyback is designed for businesses that offer regulated financial instruments. These financial instruments include bonds, stocks and money market funds.
The post continues:
Securities in many jurisdictions must demonstrate the ability to cancel assets in certain circumstances to comply with regulatory requirements. This new feature does just that.
Stellar’s cryptocurrency is positively diverging, up over 4% daily at the time of this writing. XLM price is currently just under 42 cents.