The Stellar Development Foundation development team has announced the findings of the protocol’s first year. Among its significant achievements is the expansion of the XLM network in size and quality, the expansion of partnerships, particularly with MoneyGram, and the launch of new initiatives.
1/ SDF CEO and Executive Director @denelledixon wraps up 2022 by reporting on end-of-year metrics, milestone achievements, and more.
— Stellar (@StellarOrg) December 26, 2022
Recalling how Stellar arose as a decentralized open-source alternative to Ripple after one of its inventors, Jed McCaleb, became dissatisfied with the development route.
The Stellar network is believed to have seen a 176% growth in the number of payments completed, reaching 345.9 million in total. The number of XLM accounts has also increased by 17%, reaching 7.37 million. To date, the Stellar protocol has handled 3.6 billion operations, an increase of 92% year on year.
Stellar also introduced Soroban this year, a platform for generating smart contracts that are now live on the Futurenet testnet. The group also formed a $100 million investment fund at the same time as Soroban.
The Stellar Development Foundation report also mentions the launch of MoneyGram Access in collaboration with the same-named payment business.
Furthermore, the humanitarian service Stellar Aid Assist was developed with this solution, which is a global on/off-ramp, allowing those in need to get USDC swiftly and later cash it out.
