Stellar Price Renews 2-year High Amid Protocol Update
Stellar price renews 2-year high amid protocol update
On Wednesday, November 25, Stellar (XLM) surpassed $ 0.22, hitting a two-year high. The asset’s growth is taking place against the background of the activation of the Protocol 15 update two days ago.
XLM was last traded at these levels in November 2018.
According to Coingecko, the coin is up 141.5% over the past seven days, the fastest growing among the top 20 cryptocurrencies.
Implemented on November 23, the upgrade aims to simplify the creation of applications on the Stellar block.
Protocol 15 added two new features – declared balances and sponsored reserves. They are designed to improve user experience without compromising network security.
More about the update
The upgrade has strengthened the defense against the so-called farming attacks. They suggest that an attacker creates multiple accounts to collect small amounts sent to these accounts by service providers to activate the account.
The developers have been preparing the last update for over a year. According to them, Protocol 15 closes the most problematic areas when creating applications and services on the Stellar blockchain.
The non-profit Stellar Development Foundation, behind the development of the Stellar network, also announced a partnership with business payment platform provider ClickPesa. The new partner aims to facilitate cross-border and peer-to-peer payments through XLM in six East African countries.
— Stellar (@StellarOrg) November 24, 2020
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