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Stellar Ready Expecting Smart Contracts Arrival In 2022

Stellar has outlined its vision for 2022 and beyond in a detailed roadmap. With this in mind, Stellar is considering expanding its anchor network and focusing on trust-free innovations while also improving inclusivity and interoperability.

Additionally, it also revealed that Smart Contracts will be added to the ecosystem in 2022.

Stellar Smart Contracts

So, Stellar announced the announcement of Smart Contracts’ integration into its ecosystem. Of ourse, with a statement on Twitter that simply stated,

“Smart Contracts are coming to Stellar.”

Then, and attached a video of Justin Rice, VP of Ecosystem, providing specifics about Stellar’s Smart Contracts.

Rice discussed the Stellar Development Foundation’s efforts to explore new routes and possibilities in order to evaluate what benefits they could offer to Stellar and its ecosystem.

He also mentioned that Smart Contracts will most likely be their next move in 2022. Then, while he admitted that there is still a lot of work to be done in this area.

More Opportunity to Innovate

The Stellar team noted in a blog post on the website that the addition of Smart Contracts would assist to strengthen the ecosystem and offer Stellar developers greater opportunity to innovate. The ultimate goal is to remain one of the most accessible networks for developers, allowing them to construct and distribute safe and high-quality applications to customers.

Stellar’s Vision Hasn’t Changed

Stellar emphasized in its statement that the introduction of Smart Contracts will not be a deviation from the network’s ideals or purpose. Both the essay and the video emphasized that it was developed for the future of payments. Then, and that it was vital that smart contracts on the platform be secure and scalable without incurring expensive network fees.

Rice also mentioned that while smart contracts are not new, Stellar might implement them in a novel way after studying and learning from what has already been implemented in the market. Thereby, potentially introducing a new utility that does not exist now.

A Collective Decision

In its 2022 roadmap, the Stellar Development Foundation stated that. Of course, it was dedicated to working with the community and developing a smart contract implementation. It also stated that it would not be the Development Foundation alone. Then, and that it would be formed only following feedback from the enormous developer ecosystem.

This content is provided solely for informational reasons. It is not presented as legal, tax, investment, financial. That’s, or other advice, and it is not intended to be used as such.

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