Getting Started with Stellar & Soroban for Polkadot Users
Introducing Stellar x Soroban for the Polkadot Community
Stellar and its smart contract platform, Soroban, are increasingly integrating with the Polkadot ecosystem through Spacewalk bridge. Spacewalk facilitates seamless asset transfers for the multitude of Stellar’s fiat stablecoins (like BRL, EURC, TZS and more) between Stellar and Polkadot.
Stellar and Soroban
Stellar’s network, powered by the Stellar Consensus Protocol (SCP), offers a wide range of stablecoin anchors including many exotic stablecoins and their local on/off ramps. Stellar is an OG ecosystem founded in 2014 that have recently launched Soroban, a new smart contract platform, to connect their ecosystem with DeFi functionalities.
Soroban utilizes Rust-based smart contracts, facilitating the creation of performance-optimized and secure dApps. It uniquely complements Polkadot’s existing structures by offering tools for developing complex financial tools and services, further bridging the gap between traditional finance and decentralized finance.
Pendulum’s Spacewalk Bridge In Action
The Spacewalk bridge is a cornerstone of this integration, enabling the fluid movement of assets between Stellar and Polkadot. It supports various fiat-backed stablecoins and cryptocurrencies, enhancing the utility of Stellar’s network within Polkadot’s DeFi landscape.
The bridge not only simplifies transactions but also aligns with Pendulum’s goal of broadening financial inclusion and connectivity across blockchain platforms.
Stellar’s integration into the Polkadot ecosystem through the Spacewalk bridge brings many solutions to existing challenges and enhances the overall efficiency of cross-chain transactions.
Moreover, Soroban’s smart contract capabilities provide Polkadot developers with new tools for creating decentralized applications, particularly in the sectors of decentralized finance (DeFi) and cross-border payments.
Payments on Stellar
As depicted in the graph, Stellar’s payment activity has been on a steady rise, reflecting its growing influence as a reliable platform for businesses and individuals seeking efficient financial solutions. This surge in payment processing underscores Stellar’s potential as a key player in the global financial landscape.
Use Cases and Potential Collaborations
The synergy between Stellar, Soroban, and Polkadot opens up numerous possibilities for collaborative projects. Potential use cases include cross-chain financial products that integrate Stellar’s currency exchange with Polkadot’s scalable infrastructure.
Pendulum’s new EURC off-ramp prototype offers a seamless integration for Polkadot users to transfer their EURC directly to a bank account with just a few clicks. Leveraging Stellar and Spacewalk on the backend, the platform ensures a smooth and user-friendly experience.
Additionally, Soroban’s smart contracts can be paired with Polkadot’s parachains to innovate in areas like decentralized finance and cross-border payments.
Unlocking New Markets for Polkadot
Pendulum unlocked the vast potential of traditional financial markets for Polkadot users, catering to users and businesses primarily operating in fiat currencies. This gateway could significantly expand the reach and adoption potential of Polkadot-based projects.
Getting Started with Stellar and Soroban for Polkadot Users
For Polkadot community members eager to explore Stellar and Soroban, the journey begins by connecting through the Spacewalk bridge. This bridge facilitates asset transfers between the Polkadot and Stellar networks. Follow this guide to get started on Spacewalk today:
For developers, Soroban provides robust tools and documentation to start building smart contracts that can interact with both Stellar and Polkadot’s ecosystems. By engaging in testnet trials, users can safely explore the functionalities without risking actual assets, easing the learning curve associated with new platforms.
Conclusion
Exploring Stellar offers Polkadot users a gateway to a vast array of new opportunities and solutions, especially in the realms of scalable payments, on/off ramping and stablecoin utilities. The integration facilitated by Pendulum Chain and Spacewalk bridge brings collaboration and innovation across blockchain communities.
For those looking to dive deeper and contribute to this evolving digital landscape, joining the Pendulum community provides a platform to collaborate, learn, and grow within this integrated network. Join Pendulum on social media to get the first updates on the exciting intersection between the Polkadot and Stellar worlds.
About Spacewalk
The Spacewalk bridge will combine both Stellar and InterBTC innovations to begin a new era of trust-minimized bridges in blockchain. This high level of decentralization, security and trustlessness can help Pendulum become the missing link between fintech fiat services and DeFi.
About Pendulum
Building the missing link between fiat and DeFi through a fiat-optimized smart contract blockchain based on Polkadot’s Substrate. Allowing traditional finance fiat services to integrate with DeFi applications such as specialized forex AMMs, lending protocols, or yield farming opportunities. Developed by SatoshiPay.
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