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- 1 Stellar is testing its forthcoming smart contract platform Soroban for its mainnet integration.
- 2 Soroban is running on testnet and aims to increase the scalability of the blockchain.
- 3 The test is supposed to prepare the platform to safeguard against bugs and vulnerabilities.
Stellar has emerged as one of the most prolific blockchain ecosystems. It empowers developers to create high-end decentralized networks. Moreover, its products and solutions have proven very productive for crypto firms. Following the vein, it is now working on its forthcoming solution Soroban.
What is Soroban?
Soroban is a Rust-based smart contract platform. It has been designed to enhance the scale and sensibility of the existing network. It is operational on testnet but the Stellar team wants to integrate it into its core blockchain. Laden with a number of innovative traits, this platform gives some earning opportunities too. Developers can start using it easily by just installing the Rust toolchain and Soroban CLI.
They can then begin writing smart contracts in it. The Stellar Development Foundation has started the $100M Soroban Adoption Fund. This initiative will support developers in all their learning, experimenting, and building endeavors. Hence, it seems that the community is encouraging developers to join its efforts. So far, the protocol has received positive feedback and is gaining traction.
Major Highlights of Soroban
The following features make this platform very useful for developers and crypto entities.
Enhanced Developer Experience
With a number of tools, this efficient tool brings ease into the developers’ job. It offers a local sandbox, Soroban CLI, RPC server, and plug-and-play SDKs. In addition, it gives a user-friendly experience that quickens the whole process.
Scalability
As mentioned earlier, Soroban enhances scalability. It boosts performance with multiple in-built factors. The platform boasts of working without any pesky serialization loops. Furthermore, it has an optimized fee model that also works with multi-core scaling. It also addresses the issue of state bloat.
Real-World Utility
Stellar’s exemplary interoperability makes this solution highly adaptable. Users can access its large range of off-ramps and on-chain assets. Besides that, they can benefit from the five-second contract finality. It works on a proven and mature network boasting 150 TPS.
Stellar Team is Testing Soroban Now
To perform a full-scale and unbiased audit, Stellar partnered with the security firm Certora. The latter is known for its formal verification tooling. Notably, Soroban utilizes WebAssembly (WASM); a binary code format. This particular program facilitates traditional web and blockchain integrations. Stellar attributed the vulnerability of minor codes to this rigorous security check.
According to it, smart contracts are inherently immutable and transparent. However, they are not impervious to cyber-security threats jeopardizing the world. Therefore, it is deploying Certora’s formal verification tools for inspection. After the code is modified, it gets attuned to the specifications.
As per the team, it would keep several bugs and vulnerabilities at bay. Timer Weller, the VP of product at the SDF, spilled beans on the developments.
He said that the security features of Soroban will empower the whole DeFi ecosystem. It will ensure that the blockchain networks are able to withstand all the cyber threats. The Stellar network, with the power of Soroban, will be a frontrunner in this.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
