Stellar (XLM) Enters Next Era with Protocol 24 Upgrade Vote

• Stellar validators will vote on the Mainnet upgrade to Protocol 24, which focuses on fixing a core stability bug.

• Node operators must update their Stellar Core, Horizon, RPC, and Galexie software before the scheduled vote.

The Stellar blockchain ecosystem is rapidly approaching one of its biggest network upgrades, as validators are ready to vote on the Protocol 24 Mainnet upgrade, planned to take place on October 22 at 1700 UTC. The upgrade is expected to address a stability issue with the state archival feature of Stellar Core, which has one of the fastest upgrade schedules on the network in recent years.

Following the successful Testnet upgrade on October 21, the Stellar Development Foundation announced that Protocol 24 is now ready for deployment on the main network. The upgrade, as mentioned in Stellar’s technical guide, is required for users who run the main pieces of infrastructure, such as Stellar Core, Horizon, RPC, and Galexie.

The participants operating these nodes must ensure that the newly released Protocol 24-compatible ones are installed. For users using Docker, Stellar recommends updating binaries for every component. Those who are compiling their own should pull the latest version of the Docker images from its registry. The network also reported that it can take up to one hour to fully synchronize the network after installing Horizon or RPC.

The Mainnet upgrade will be activated upon the vote of the validators, with the thus-upgraded network continuing smoothly and eliminating the underlying bug in state archival operations. After this is finished, a follow-up vote will tell when the archival feature itself will be turned back on.

What Developers and Validators Should Expect

Validators and developers are essential for a smooth transition. Validators have been told to configure their nodes with the command. The Stellar team noted that no SDK updates are needed, as Protocol 24 does not introduce any XDR (External Data Representation) changes, and the upgrade is relatively easy for application developers to implement.

Additionally, the Foundation reminded operators to review system-specific requirements in the individual release notes before commencing. According to Stellar’s blog post, the compressed upgrade schedule is directly related to an urgent stability issue. 

XLM Faces Market Pressure Ahead of Upgrade Vote

While technical preparations are being made, Stellar’s native currency (XLM) is experiencing short-term price volatility. Over the past 24 hours, the asset has decreased by 1.45%, from $0.3091 to $0.3327, amid overall market weakness. Bitcoin’s dominance has risen to 59%, which curtails capital inflow towards the altcoins.

Despite the pullback, trading activity remains strong, with XLM’s volume up nearly 21% to $247 million. Analysts note that the current decline may represent an accumulation phase as traders anticipate renewed momentum if market sentiment turns risk-on before the end of the “Uptober” rally.

A successful mainnet upgrade could strengthen investor confidence by reinforcing Stellar’s operational stability, a key factor for institutional adoption and payment network reliability. If buying pressure continues to build, XLM could make another attempt at the $0.40 level before the month ends.