Ripple Competitor Announces Plans To Roll Out Smart Contracts in 2022

Ripple competitor Stellar (XLM) has announced plans to roll out smart contracts later this year.

Stellar Development Foundation (SDF), Ecosystem President Justin Rice Tells Smart contracts enable a new set of products and services at Stellar.

“It takes a lot of work to get there, but SDF is committed to investigating and managing code development and creating community involvement in implementation.

The goal is to make Stellar one of the most accessible networks for developers to provide users with high-quality and secure applications while adapting to the competitive blockchain situation. is to do. “

Stellar is an open network for storing and transferring money. The project’s native token, XLM, will be used as a bridge currency between the two fiat currencies when sending funds abroad. XLM is trading at $0.192,945 at the time of writing and is down 2.37% in the past 24 hours.

Tomer Wheeler, Vice President of Technology Strategy at Stellar . said: Outline An approximate timeline for implementing smart contracts in new tweets.

“We aim to have a fully functional test network by the end of 2022. Ultimately, the ecosystem will decide if and when to run Stellar smart contracts.”

In October, SDF announced a new partnership with payment giant MoneyGram to use the Stellar blockchain to facilitate cross-border payments.

MoneyGram previously signed a partnership with rival Stellar Ripple in June 2019 for foreign exchange and cross-border payments.

But the giant of the settlements Pause It used XRP payments in February following the US Securities and Exchange Commission (SEC) action against Ripple.

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