Soroban Smart Contracts: Automating With The Stellar Global Network

In this hypercompetitive market, decentralized networks have made a huge impact on financial operations and trades. Offering users the ability to initiate cross-border transactions and enjoy payments with lightning speed, these platforms have opened a sea of opportunities to use digital tokens. But it is Stellar that has made a groundbreaking revolution through its financial inclusiveness. Supporting both fiat currencies and crypto tokens, it allows users to leverage decentralized blockchain for trading or investing in multiple currency types. Additionally, it works on the FBA paradigm, a new way of consensus that allows every validator node to choose the next set of trustworthy nodes for ledger operations.?

But all these features and abilities can be accessed only due to the impeccable Stellar smart contract platform. It allows users to develop and release automatically executable smart contracts for controlling transactions and establishing ground rules. Termed as Soroban, it can be considered as the building block of the Steller blockchain network and its decentralized feature. So, before you even start developing any smart contract specific to the Stellar network, knowing about Soroban, its key features, benefits, and industry use cases is imperative. This being said, let’s not waste any more time and delve deep into the essentials of Soroban, a smart contract platform that has revolutionized the DeFi market.?

Table of Contents

• Introducing Soroban: Stellar’s Own Smart Contract Platform
• Features and Benefits of the Soroban Smart Contract Platform
• 1. Impeccable Host Environment
• 2. Transaction Speed
• 3. Improved Scalability
• 4. Enhanced Transparency and Security
• 5. Optimized Handling of Tokens
• 6. Reentrancy Handling
• 7. Stellar Integration
• Use Cases of The Soroban Smart Contract Platform
• Conclusion

Introducing Soroban: Stellar’s Own Smart Contract Platform

If you are familiar with Stellar, you might have heard about Soroban smart contracts. However, having a detailed insight is necessary for you to start with the development projects. It was first included within the network through the Steller Protocol 20 with the goal of elevating and extending the network’s capabilities in supporting financial inclusiveness and borderless transactions. It allows developers to build smart contracts and deploy them to the real-time blockchain network as a part of transaction governance rules.

Soroban runs on two major technologies, namely:

• Rust: This is the base programming language that controls the technical architecture of the smart contract platform. Thanks to its higher efficiency, exceptional speed, and improved credibility, it ensures Soroban remains protected and immune from vulnerabilities and threats.?
• WebAssembly or WASM: Used as a runtime environment, it adds versatility to Soroban smart contracts and increases its operational speed. It enables direct communication with the hardware elements and the underlying software architecture, thereby reducing memory space consumption and resource utilization.

To discover more about the transformative capabilities of Soroban and explore its real-world applications, visit our blog for the full article.

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