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Stellar To See The Arrival Of Smart Contracts In 2022

Stellar To See The Arrival Of Smart Contracts In 2022

Stellar has drafted a very clear roadmap regarding its strategy for 2022 and beyond. Keeping that in mind, Stellar is looking at further expanding its anchor network, focusing on trust-minimized innovations and increasing inclusion and interoperability.

Stellar also revealed that it plans on bringing Smart Contracts to the Stellar ecosystem in 2022.

Smart Contracts On Stellar

Stellar announced the news regarding the incorporation of Smart Contracts into its ecosystem through a tweet on Twitter, which simply stated, “Smart Contracts are coming to Stellar.” and included a video of Justin Rice, VP of Ecosystem, revealing details regarding Smart Contracts on Stellar.

Rice spoke about the Stellar Development Foundation exploring new avenues and possibilities and see the opportunities they could bring in growing Stellar and its ecosystem. He further stated that Smart Contracts are probably the next step for Stellar in 2022, although he conceded that there is still a lot of work to be done in that regard.

More Room To Innovate

In a blog post on the Stellar website, the team stated that the addition of Smart Contracts would help to empower the ecosystem and give developers on Stellar more room to innovate. Stellar’s ultimate goal remains to be one of the most accessible networks for developers, allowing them to create and deliver safe and high-quality applications for users.

Stellar’s Vision Remains The Same

Through its post, Stellar stressed on stating that the arrival of Smart Contracts would not be a departure from the values or the vision of the network. The post and video both stressed the fact that Stellar was built for the future of payments and that it was absolutely critical that smart contracts on Stellar are secure and can scale without the problem of high network fees.

Rice also stated that while smart contracts are not anything new, Stellar could execute them in a different way after studying and learning from what has been deployed in the industry and possibly bringing a new utility that currently does not exist.

A Community Decision

The Stellar Development Foundation highlighted in its 2022 roadmap that it was committed to working with the Stellar community and creating a smart contract implementation. However, it also stressed that it would not just be the Stellar Development Foundation and would be created only after inputs from Stellar’s vast ecosystem of developers. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.