Stellar (XLM) is benefiting from the optimistic outlook created by Ripple’s victory in the SEC litigation. XLM is now trading at $0.148 after making a tremendous 54% increase during the past 24 hours. The cryptocurrency has also increased by 55% during the past seven days.
The Securities and Exchange Commission (SEC) sued Ripple in December 2020; on July 13, Judge Analisa Torres mostly sided with Ripple.
According to paperwork filed on July 13, Judge Torres has granted summary judgement in favour of Ripple Labs, finding that the XRP coin is not a security.
Following the revelation, the price of XRP rose by an astounding 72% in only 24 hours, and its market worth soared, moving it up to fourth position.
Stellar network smashes big milestone
A Stellar developer named Tomer Weller announced on Twitter that Soroban Preview Release 10 is currently active on Futurenet.
The Rust-based smart contract framework Soroban was created for scalability and sensibility. Soroban connects with and operates alongside the current Stellar blockchain, which is now operating on the test network known as Futurenet.
Weller lists three reasons why this is a significant achievement. First off, Soroban v1 is finally feature complete after 15 months of hard design revisions and public debate. Users do not need to be concerned about breaking changes because Soroban is currently stable, despite the fact that work is still happening in preparation for the mainnet launch.
Second, the Soroban smart contract platform addresses ledger bloat, a significant obstacle to the long-term decentralisation and sustainability of the blockchain. Third, while allowing for restoration, Soroban’s state expiry approach makes sure that only the most crucial data eats up valuable ledger space.
