#Stellar has just introduced protocol 22, which will be tested on 12/11 and voted for an upgrade on 5/12.
In this protocol, they introduce 2 new proposals.
1 - CAP-58: Makes Soroban smart contracts more flexible, easily interacting with other external smart contracts like those of #Ethereum ... Additionally, Cap58 reduces the size of hash functions to prevent information hacking.
2- CAP-59: Uses zk-SNARK (Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge) mechanism to allow anonymous access in the digital environment.
#Pinetwork will upgrade to this protocol?
The upgrade is valuable but not really necessary at this time. According to Thang:
1/ Pi is building a utility ecosystem. The first real ecosystem with a large user base. The need for a DeFi contract at this time is not the main concern of @PiCoreTeam.
In the future, the Pi network may update to a newer protocol version to meet actual needs.
2/ The Pi environment itself is a Web3 environment. It operates through the supply-demand of goods. Users exchange directly with businesses (C2B) and businesses provide goods and services directly to customers (B2C), so it doesn’t even need a smart contract for anything.
If Pi's smart contract only serves basic read/write data on the ledger, then protocol V19 is sufficient. Because information from V20 is still supported by V19.
3/ Protocol version v18 is very stable. Thang has not seen any reason to upgrade at this time. PCT will focus more on KYC and Dapps.
The exclusivity of the ecosystem is similar to how Vinfast monopolizes electric vehicle charging stations.
In this protocol, they introduce 2 new proposals.
1 - CAP-58: Makes Soroban smart contracts more flexible, easily interacting with other external smart contracts like those of #Ethereum ... Additionally, Cap58 reduces the size of hash functions to prevent information hacking.
2- CAP-59: Uses zk-SNARK (Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge) mechanism to allow anonymous access in the digital environment.
#Pinetwork will upgrade to this protocol?
The upgrade is valuable but not really necessary at this time. According to Thang:
1/ Pi is building a utility ecosystem. The first real ecosystem with a large user base. The need for a DeFi contract at this time is not the main concern of @PiCoreTeam.
In the future, the Pi network may update to a newer protocol version to meet actual needs.
2/ The Pi environment itself is a Web3 environment. It operates through the supply-demand of goods. Users exchange directly with businesses (C2B) and businesses provide goods and services directly to customers (B2C), so it doesn’t even need a smart contract for anything.
If Pi's smart contract only serves basic read/write data on the ledger, then protocol V19 is sufficient. Because information from V20 is still supported by V19.
3/ Protocol version v18 is very stable. Thang has not seen any reason to upgrade at this time. PCT will focus more on KYC and Dapps.
The exclusivity of the ecosystem is similar to how Vinfast monopolizes electric vehicle charging stations.