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  • Stellar (XLM) market cap remains stable above $4 billion unaffected by the declining trading volumes.
  • The upgrade to version 10.0.0 will require a hard fork that has already been agreed upon by the Stellar community.

Stellar (XLM) has been a beehive of activities in the last few months. The team has been landing strategic partnerships while working its mission of connecting banks, financial institutions, and individuals. XLM/USD is currently trading at $0.228 while CoinMarketCap shows a 1.79% growth in the last 24 hours. Stellar’s trading volume has been reducing since August 10, from $110 million to $58 million at the close of the session on August 19. The declining volumes have had a very minor effect on the market capitalization, which been stable above $4 billion in the same period of time.

Stellar Foundation recently announced that it is preparing for an upgrade of Stellar protocol. The announcement was made via Reddit and Twitter. It concluded instructions for the people running Stellar nodes and those developing on the network. It read:

“We’re about to release some big changes to the way the order book works in the upcoming upgrade to the Stellar Core protocol.”

The switch to the new protocol will take place September 2018. The team is currently working on fixing bugs and thereafter version 10.0.0 will be available on the mainnet. The team said that the testnet is running.

Major changes are expected in the new version in line with the operation of the order book. The changes are so significant that a hard for that has been agreed upon by the community will have to be carried out. All the people operating a validating node have been requested to vote on the changes in order to ensure a smooth transition. The users holding Stellar Lumens do not need to do anything, all the changes will be taken care of by the involved developers.

“Late August/Early September (4-6 weeks) – We’re going to migrate over to protocol version 10 on the public network. This will require validators to be ready and vote, so we’re asking all validators to prioritize keeping up to date with the pre-releases (when testing) and releases over the next few weeks,” Stellar Foundation wrote on Reddit.