Stellar Protocol 14 is next major upgrade of Stellar network. On 28th October 2020 4PM UTC, Stellar validators will vote on whether to upgrade the network to new protocol or not.
So what’s new in Stellar Protocol 14? Protocol 14 introduces two new features — Claimable Balances and Sponsored Reserves.
Claimable Balance allows user to send any Stellar asset / token to any Stellar account even if they don’t have its trustline. By default, only XLM is accepted and for accepting any other asset, a trustline to that asset must be established.
With the new Stellar Protocol 14, an on-network Claimable Balance is created that can be later collected by the user.
This feature becomes even more useful with Stellar Protocol 14’s second new feature called Sponsored Reserves. This allows one Stellar account to literally sponsor for another account. This means that if receiver account lacks Lumens to accept a new asset, sender can sponsor receiver.
Sender can sponsor without having any control over underlying funds. This means easier onboarding of new users who don’t need to get educated about minimum balance requirements and trustlines.
Reminder: On Wednesday, 10/28/2020 at 1600 UTC, Stellar validators will vote on whether to upgrade the network to Protocol 14. https://t.co/v7a2JC2zXL
— Stellar (@StellarOrg) October 7, 2020
