Stellar Protocol 17 Upgrade Completed

Stellar, or Stellar Lumens, is an open source, decentralized protocol for digital currency to fiat money low-cost transfers which allows cross-border transactions between any pair of currencies. The Stellar blockchain’s cryptocurrency is called the Lumen, a token that trades under the symbol is XLM.

According to the latest updates of their Developers Blog, the Stellar protocol 17 upgrade was completed. Protocol 17 introduces a new feature – Asset Clawback – that is designed to allow businesses issuing regulated financial instruments such as money market funds, bonds, and equities to comply with regulatory requirements by demonstrating the ability to revoke assets in certain situations.

Clawback doesn’t affect existing assets, balances, or accounts; rather it opens up new possibilities for issuing regulated assets on the Stellar network. To enable asset clawback, Protocol 17 introduces a new account flag, new trustline and claimable balance flags, and new operations to take advantage of those flags.

The network upgrade to Protocol 17 required the assent of validators, who vote for and agree to a new protocol version just like they vote for and agree to apply transaction sets to the ledger. For those who are interested in participating in future votes, they can run their own validating node, with no permission required.

ABOUT Stellar Lumen
Stellar Lumens, is an open source, decentralized protocol for digital currency to fiat money low-cost transfers which allows cross-border transactions between any pair of currencies.

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