Stellar (XLM) Has Started the Countdown For a Major Update: Will the Price of XLM Go Up?

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Although crypto currency investors have recently been hit hard by one after another with red candles, a recovery still seems possible. The leading cryptocurrency Bitcoin (BTC) it closed monthly at the level of $36,000 and eyes were drawn to altcoins from here on out.

Is XLM Next After the Rise of XRP?

In particular, the fact that XRP, the sixth largest cryptocurrency by total market capitalization, gained 15% even at the time of such a decline made it possible to think that altcoins could still achieve significant rises.

Known for experiencing a rise after the rise of XRP XLM but he still hasn’t made the expected attack. However, an announcement announced by the Stellar Foundation may hold an important clue to the date of XLM’s rise.

Stellar Foundation Launches the Vote

Judging by the post published by the Stellar Foundation, it seems that a vote will be held on the implementation of the Protocol 17 update as of 18.00 TSI today. After the participants of the Stellar network have completed the voting on this issue, a very important update for Stellar can be performed.

Protocol 17 will provide the infrastructure for “launching new and regulated assets on the Stellar network,” the Stellar Foundation said in a statement. Although Stellar does not give any clear information about the issue, it can be said that this may be related to central bank digital currencies.

What Awaits Stellar With Asset Clawback?

If Protocol 17 is adopted, a feature called Asset Clawback will be made available. This feature is designed to comply with the regulations of the leading countries and regions and, in fact, ensures that assets on the network can be recovered. The transferee or institution will be able to cancel the transfer if it detects a situation that does not comply with the regulations. It is known that this is still constant with certain situations.

Stellar developers also stressed that if this major update is adopted, it will not affect users’ account balances. Although this update is quite important, it should also be known that this is not a hard fork and will not lead to the production of new tokens.

Stellar developers are aiming to tokenize bonds and use them in the Stellar network thanks to the Asset Clawback function. In this way, Stellar will be able to make many important products of central finance available on its decentralized network.

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