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Stellar Lumens (XLM) Skyrockets After Protocol 15 Upgrade

  • Stellar Lumens (XLM) skyrockets by 68% following the protocol 15 upgrade.
  • XLM maintains a decentralized, open-source, and universal nature.
  • Protocol 15 upgrade includes the sponsored reserves and the claimable balances.
  • Moreover, there is no protocol 14 upgrade due to a bug.

Stellar Lumens (XLM) price skyrocketed over 65% after the announcement of its protocol upgrade from 13 to 15 on November 23.

The announcement said,

After many months of preparation and planning, the Stellar public network upgraded to Protocol 15.

Stellar Lumens skyrockets by 68% following an upgrade

Justin Rice, an executive at Stellar, made an announcement regarding the Protocol upgrade from 13 to 15. However, the announcement came after the massive XLM price surge of 68% in the past week. According to CoinGecko, the XLM price is at $0.19, at the time of writing.

XLM Price Chart 1-Month (Source: TradingView)
XLM Price Chart 1-Month (Source: TradingView)

Moreover, Stellar’s network aims to maintain a decentralized, open-source, and universal nature while fostering sustainable use cases for their applications. Protocol 15 upgrade includes two features such as the sponsored reserves and the claimable balances.

Through sponsored reserve upgrade, users can pay the base reserves for other accounts. Furthermore, users can choose to sponsor accounts, offers, trust lines, account data, and even signers. On the other hand, a claimable balance is a unique new feature in which the balances must be sponsored.

In addition, the upgrades have been tested using the testnet of Stellar. Protocol 15 is an upgrade of the platform’s protocol 13. Moreover, protocol 13 was the initial protocol to bring development on the control user has over its asset authorization.

Furthermore, there is no protocol 14 upgrade due to a bug when the protocol was being tested. Protocol 15 makes the DApp creation process easier, simpler, and faster on the blockchain of Stellar. Recently, Stellar also announced a partnership with ClickPesa, an East African business-to-business payment platform provider.

Ananthi Reeta

Crypto trading has enticed Ananthi to write for CoinQuora. She has made it her personal mission to teach people about cryptocurrency and to simplify the terms for non-geeks to understand with ease.

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