The Stellar Lumens blockchain is undergoing an upgrade to support smart contracts, aiming to challenge Ethereum’s dominance in the space. The new Soroban project will attract developers, users, and new applications to the network, which was initially focused on payments. This upgrade, set to launch later this year, is expected to be the biggest since the network’s inception in 2014. Stellar Development Foundation’s vice president of product, Tomer Weller, sees decentralized finance as a significant part of the future and wants to enable it for Stellar users. While Ethereum has been the dominant platform for smart contracts, other projects like Solana and Algorand have emerged as potential competitors. However, some experts remain skeptical about Stellar’s ability to challenge Ethereum’s position. Despite the excitement surrounding the upgrade, Stellar’s native token XLM has seen a drop in value. Nevertheless, investors are hopeful that the upcoming upgrade will help XLM regain its all-time high price.

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Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	1
People	Tomer Weller
Companies	Solana, Algorand, FINRA, Ethereum, Stellar Lumens blockchain, Aptos, CySEC, FCA, Soroban project, Coinbase, Sui, SEC, StableLab, Ripple
Currencies	Solana, Algorand, Sui, Ethereum, Aptos, Stellar
Securities	None