On June 18, validators from the Stellar network (XLM) were asked to comment on the latest version of its basic protocol. This vote should in particular allow for greater regulatory oversight within the ecosystem. Called “Protocol 13”, this new set of updates also includes some changes to improve the experience for Stellar users. But long before this vote, the community was able to learn about the new features that were featured in a blog post.
Three main innovations proposed through Protocol 13
The Protocol 13 proposed by Stellar essentially presents three new characteristics, namely: higher fees, more precise control over asset authorization and first class multiplexed accounts. The blog post briefly explains the value of setting up premium rate transactions. This function will quickly recover user fees and increase the cost of low value payments for settlement during the period of high frequency of the network.
In the past, disabling authorization for an account on Stellar automatically resulted in the cancellation of buy and sell orders on the affected account. With protocol 13, it will now be possible to ” revoke the authorization while retaining buy and sell orders, making it easier to identify regulated assets such as securities “. In this way, whoever issues a regulated asset can define it by requiring the new type of authorization. So “when a user wants to make a payment or make a new offer, the issuer can check whether the regulations in force allow it “
With multiplexed accounts, childcare services can assign each user a unique account identifier. This will then be routed to the Stellar address of the underlying exchange. These new accounts will allow you to apply ” Memo-style functionality at the transaction level, so you can consolidate multiple payment transactions across multiple multiplexed accounts into a single transaction ” That is much more efficient and beneficial for the network than submitting transactions consisting of single payment transactions.
Optimization of protocols
Two optimizations improving the functioning of the network (CAP-28 and CAP-30) were also inserted in protocol 13 in addition to these three new functionalities. The CAP-30 sounds for example stopping the verification of the existence of the account issuing a property during payment, of the payment process, and the establishment or management of an offer. The CAP-28 meanwhile introduces a slight improved convenience during network operations. The impact of these two optimizations on the users is obviously not so important compared to the new characteristics of the protocol 13.
After the vote, all users will therefore have to update their various software (Stellar Core or Horizon, Stellar SDK) in order to introduce the new features and optimizations of this protocol. These should quickly meet the expectations of a community always looking for a better experience of use on the network.
In the crypto-bath since 2017, both much too late but quite early from the point of view of my future grandchildren ????
Writer, Amateur Trader, Ethereum and NEO-compatible