Stellar Activates Protocol 28 Upgrade with $3.3 Billion in Tokenized Assets

Stellar has rolled out its Protocol 28 upgrade, dubbed 'Adapter,' which introduces significant modifications to the management of Soroban smart contracts and data migration processes within the Stellar blockchain ecosystem.

The protocol's deployment coincides with substantial growth in tokenized assets and stablecoin activity across the network. Tokenized real-world assets on the network have surpassed $3.3 billion, including tokenized bonds, U.S. Treasuries, private credit, money market funds, and tokenized gold.

The upgrade centers on two main proposals: CAP-85 and CAP-86. CAP-85 enables atomic upgrades for groups of smart contracts, facilitating coordinated version updates for contracts sharing identical logic. This advancement is expected to streamline security patches and maintenance for decentralized financial applications managing a high volume of contracts.

The network has also achieved a sustained throughput exceeding 211 transactions per second over 100 consecutive ledgers, marking a new performance milestone for the network. The protocol's goal is to ensure smoother operations during peak network activity.