Stellar Development Foundation Published Details About Protocol 17 Improvements

A new Stellar protocol upgrade is on the way, and SDF published details about the improvements this upgrade will bring to the blockchain. The community will vote for or against the new upgrade on June 1st, and if the proposal receives the required votes, it will be applied on the blockchain Stellar Development Foundation published details about these upgrades to make the community members ready for the upcoming changes. These kinds of upgrades happen a few times a year to improve the Stellar blockchain and make it ready to serve more customers.

Critical Protocol Upgrades

Blockchain upgrades are critical steps in creating a comprehensive decentralized solution. Big blockchain communities get involved in the upgrades continuously. Most of them publish details about each upgrade to let developers and end-users know more about the upcoming changes. Most of the upgrades need updating the node software and related tools. Stellar protocol upgrade is a common process in this blockchain and happens a few times a year. The upcoming one is called Protocol 17 upgrade that brings new changes and features to the blockchain.

The Stellar community will vote on the new protocol upgrade on June 1st. If the vote goes through, all Stellar developers should upgrade their software and tools to be able to use the blockchain. Stellar Core, Horizon, and the Stellar SDK are critical tools that should be updated in each protocol upgrade.

Some of the latest features that came to Stellar through upgrades were fee bumps, claimable balances, and sponsored reserves. The new upgrade will bring a single feature that focuses on issuing regulated assets on Stellar blockchain.

Asset clawback is the new feature that comes with the Stellar Protocol 17 upgrade. According to the announcement:

“Asset clawback is designed for businesses issuing regulated financial instruments, such as money market funds, bonds, and equities. To comply with securities regulatory requirements in many jurisdictions, these issuers — or their designated transfer agents — must demonstrate the ability to revoke assets in certain situations, and this new feature allows them to do that.”

The protocol 17 upgrade on Stellar focuses on providing features to make Asser clawback more efficient. A new account flag will be introduced in the new version. Besides, new trustline and claimable balance flags will come to the blockchain. New operations will be introduced that benefit from the flags. All of these new features make it possible for more regulated assets to be launched on Stellar blockchain and attract more mainstream users.

Source: Crypto Economy

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