Blockchain
Soroban, Smart Contracts Platform Native to the Stellar Network, is Live on Futurenet
Today at Stellar’s 4th annual Meridian conference, the Stellar Development Foundation (SDF), the non-profit that supports the growth and development of the Stellar network, announced today that Soroban, the native smart contracts platform on the Stellar network, is live on Futurenet, an incentivized testing environment for first-wave developers. SDF also announced a $100M fund to support developers building on Soroban.
Soroban introduces Turing-complete smart contracts to the Stellar network, built on WASM and with Rust. Soroban on Stellar brings a whole new type of smart contracts platform to the market that is designed with purpose, built to perform, and, combined with the power of the Stellar network, will drive use cases built around expanding access to financial services.
“We built Soroban because, as developers, we didn’t see the kind of smart contracts platform we wanted to work with in the market,” said Tomer Weller, Vice President of Tech Strategy at the Stellar Development Foundation, and the lead developer on Soroban. “We saw the friction on other networks and our response is Soroban, smart contracts that are designed for a batteries-included developer experience, for scale, and for reliable access to financial rails through the Stellar network.”
With Soroban live on Futurenet, developers can now begin writing and deploying smart contracts in a testing environment and get rewarded for doing so.
The Soroban Adoption Fund dedicates $100M to support developers building products and tools for the Soroban ecosystem. The first incentive program, Sorobanathon: First Light, will reward eligible developers for testing Soroban and sharing their feedback through developer-generated Soroban content, including code examples, tutorials, and GitHub issues. More details on Sorobanathon: First Light are available at soroban.stellar.org.
With growing demand for web3 developers and research showing that web3 programming talent remains far outpaced by the global total of software engineers, the Fund aims to attract more builders to blockchain.
“The number of developers coming to build in web3 has been growing faster than ever, but to compete with more established industries, we need more talented builders coming to blockchain and crypto,” said Justin Rice, Vice President of Ecosystem at the Stellar Development Foundation. “With the Soroban Adoption Fund and programs like Sorobanathon: First Light, we hope to encourage more developers to come innovate with us.”
The Soroban Adoption Fund is part of SDF’s overall mandate, which has a dedicated 17B XLM to support growth and development on the Stellar network.
“This first Futurenet release is for the early adopters who are going to provide real time feedback that will shape this innovation on Stellar and help set a new standard for smart contracts. With support from the ecosystem, Soroban is creating a platform where developers don’t have to choose between performance and expressivity,” said Jed McCaleb, Co-Founder and Chief Architect at the Stellar Development Foundation.
SDF announced in March 2022 the plan to bring Turing-complete smart contracts to Stellar, sharing that it is a strategic piece of the technical roadmap to create more surface area for developers to innovate on the Stellar network.
This is the first Futurenet release. There will be periodic upgrades to the incentivized testnet, most notably in early Q1 2023. The launch of Soroban on Mainnet is expected in the first half of 2023.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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