Ripple Competitor To Roll Out Smart Contracts In 2022

There are all kinds of bullish movements taking place in the crypto space these days. Check out the latest one made by Ripple’s competitor.

Ripple competitor Stellar (XLM) is announcing plans to roll out smart contracts later this year.

Stellar Development Foundation (SDF) ecosystem head Justin Rice recently explained that smart contracts will enable a new suite of products and services on Stellar.

“There’s a lot of work to be done to get there, but at SDF we’re committed to researching and shepherding the development of the code and creating community engagement around an implementation.”

The same notes say:

“The goal is to have Stellar remain one of the most accessible networks for developers so they can deliver high quality and safe applications to their users, while also allowing it to adapt and respond to the competitive blockchain landscape.”

It’s been also revealed that Tomer Weller, the vice president of tech strategy at Stellar, talked about the rough timeline for smart contract implementation in a new tweet.

“We’re aiming for a feature-complete test network by the end of 2022. Ultimately, the ecosystem will decide if and when to turn on smart contracts on Stellar.”

In other recent news from the crypto space, CoinDesk just noted that the executive board of the International Monetary Fund recommended that El Salvador discontinue the use of bitcoin (BTC) as legal tender in the country due to the financial risks and liabilities that are created.

The recommendation came in a report issued the other day following bilateral discussions with El Salvador about its economy.

Earlier today, we revealed that the nation’s president had something to say after this.

https://t.co/s1F5kwOBEn pic.twitter.com/LD0I2dBHha

— Nayib Bukele 🇸🇻 (@nayibbukele) January 26, 2022

He responded to the International Monetary Fund’s (IMF) warning that El Salvador should remove the legal tender status of Bitcoin (BTC) with a meme.

“I see you, IMF. That’s very nice.”