The crypto project team #Stellar announced the launch of a new system #SmartContracts with the help of update #protocol 20. General update accepted by validator vote February 20, happened after two years of blockchain operation. The innovation will simplify the work of the developer in creating decentralized finance applications based on Stellar. Stellar Development Foundation Vice President of Ecosystem Justin Rice described the update as a significant step forward and “the most transformative update to the Stellar network to date.” The implementation of the Soroban smart contract platform will be carried out in several stages to maintain the functionality of the network. At stage 0, the main attention will be paid to monitoring the performance of #Soroban and fine-tuning the network to support an increased number of transactions while maintaining its functionality options for existing projects. Phase 1 will begin by increasing the limit on these transactions so that Soroban-based applications can scale and be used by a larger number of users. Phase 3 will allow all users to deploy applications based on smart contracts on the $XLM network. The project team noted that this update will become a tool that will increase financial accessibility for users who do not have access to similar functionality in other networks due to high commissions. The Stellar #Developmentactivity Foundation stated that this update will help developers reach untapped markets around the world.