- Stellar’s protocol 14 upgrade is improving the user experience for global adoption
- Protocol 14 focuses on Claimable Balances and Sponsored Reserve
- Protocol 14 eases the pain of onboarding new users
Stellar Lumens News Today – The SDF (Stellar Development Fund) has been working to increase their user experience (particularly for non-crypto and new crypto enthusiasts). Firstly, it came up with SEP-30. SEP-30 will allow Stellar holders the ability to manage their user keys. It will remove the fear of losing account access. SEP-30 focused on recovery and key management. The SDF makes handling crypto very easy.
SEP-30 was only a point in the grand plan for the Stellar Development Fund. On October 7, the SDF launched Protocol 14 improvements. Protocol 14 is a proposal that’s set to be voted into play by developers on October 28. The upgrade focuses on Claimable Balances and Sponsored Reserves.
Protocol 14 Eases the Pain of Onboarding New Users
Protocol 14 eases the pain of onboarding new users. Stellar accounts operate on minimum balances. Meaning, new users will need a minimum balance if they want to activate their account. In the past, Stellar developers had the responsibility of educating new dApp users on how to use exchanges and activate their accounts or send them their activation and transaction fees.
Developers do not want to partake in the stress of the first option (which is more hectic for him and could scare new users away) because the latter option is a haven. This could potentially attract spammers who will create multiple accounts. Spammers can also send the XLMs for activation to sell. Protocol 14 allows developers to have an account that sponsors XLM reserves for users without losing control of the funds.
Protocol 14 Allows Developers to Effectively Activate Accounts For Users
This means that developers can effectively activate Stellar accounts for users by sponsoring their balances without losing control of the funds. This will include an initial account requirement, account data, offers, trust lines, and signers. It will take away the need to educate users on how to use exchanges or use their Stellar-based dApps.
Additionally, claimable balances allow developers to send new assets to users without having to wait for them to make Trustlines for the asset. Users must use 0.5XLM to build a trust line for any asset before it can be accepted. This means developers won’t be able to onboard users easily because new users must be educated about adding trust lines. Stellar’s ambition to create an excellent crypto experience is the foundation and key step towards attaining full-blown adoption. Protocol 14 is the answer to the prayer of many developers. It refines the beauty of the Stellar Blockchain project.
Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.