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.
Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
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Blockchain
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