Change on the horizon when Stellar Blockchain updates on protocol 17

Von Sophie Müller

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  • Stellar-Blockchain for upgrade to protocol 17 if the coordination of the validators goes through.
  • SDF introduces a new feature-asset clawback.

Stellar (XLM) Blockchain can be subjected to an upgrade to protocol 17 during the day if the validators are right for the upgrade. The Stellar Development Foundation (SDF) had mentions The possible improvements of protocol 17 in a blog post published on May 19th.

According to the developer of the Stellar-Blockchain, the update will take place immediately if the vote goes through. The Foundation also recommended that everyone who builds on Stellar should be willing to install the updated versions of all Stellar-related software.

SDF publishes new versions of the Stellar Protocol several times a year, which contain new and current functions to meet the needs of consumers. Apart from the approval of validators, protocol upgrades require that everyone who builds on the Stellar protocol installs new versions of Stellar Core, Horizon and the Stellar-SDKs. The installation of the required versions expands the network skills. In addition, the installation enables developers to create new and improved products and services in the network.

stellar updated to protocol 17

In the blog post, SDF raised fees, requestable credit and sponsored reserves than the functions contained in the latest protocol changes. The function helps to easily design user -friendly experiences. SDF also explained in the post that Protocol 17 introduces a single recovery of feature assets that enables new opportunities for the output of regulated assets in the Stellar network.

The foundation said that the recovery of assets is intended for companies that offer regulated financial instruments. These financial instruments include bonds, stocks and money market funds. SDF continued:

In order to meet the regulatory requirements for securities in many legal systems, these issuers-or their named transfer agents-must demonstrate the ability to revoke asset in certain situations, and this new function enables them.

In addition, Protocol 17 has introduced a new account code, a new line of trust and license plate for stressable credit to confirm the recovery of assets. With the right flags, emitters can reclaim a partial or requestable balance. In addition, the right account flags can set and delete trust line flags if necessary.

issuers benefit from asset clawback

In addition, the function to reclaim assets can enable issuers to regain assets that have previously been obtained in a fraudulent way. In addition, added function helps the issuer to react to regulatory measures. Another advantage that the functions offer to the issuers is that they enable the recovery of lost assets due to the loss of key custody or theft. Issues can regain the lost assets as soon as they can demonstrate their identity.

The developers of Stellar continued that adding the new function has no effect on existing assets, accounts and credit. In addition, issuers can indicate that an asset is capable of clawback at the time of emission.

In particular, Asset Clawback cannot be activated on Stellar's native token XLM. This is because XLM neither requires a line of trust nor has an exhibiting account.

In addition, the recovery of assets will easily enable issuers to toton bonds, funds and stocks in accordance with. In addition, emitters will expand their scope, open up new markets and improve their access to more financial infrastructure.


Source: Crypto-news-flash.com