• Stellar saw marked growth in important network metrics in 2022.
• The network recorded 73% increase in total assets and 17% growth in total accounts, 92% operations processed increase and a 176% increase in total payments.
• The network also made significant progress in development and ecosystem expansion with the launch of its smart-contracts standard, Soroban, and multiple partnerships.
In 2022, the Stellar blockchain network saw remarkable growth in its key metrics. The Stellar Development Foundation (SDF) CEO and Executive Director, Denelle Dixon, highlighted some of the impressive growth metrics in a recent report. According to the report, the network saw a 73% increase in total assets, a 17% growth in total accounts — which reached over 7 million accounts — and a 92% increase in operations processed. Additionally, the network also experienced a 176% increase in total payments.
The growth of “relevant assets transactions” — Stellar-based assets tethered to real financial instruments — was even more bullish. The network observed a 1.9x increase in daily transaction volume of these assets since the start of the year. Dixon commented on this growth, saying “This growth has been astronomical and heartening because it’s proof that people are using Stellar to power real-world utility, innovation, and financial inclusion across the globe.”
Apart from the bullish growth metrics, the Stellar blockchain also made significant progress in development and ecosystem expansion. The network launched its smart-contracts standard, Soroban, in the testnet phase. The new capability brings a range of use cases to the network, including community-owned savings banks, and community crowdfunding and ownership for micro public project works. It will also bring tools to provide financial access to those who need it.
In addition to development, Stellar also secured multiple partnerships during the year. In June, it rolled out MoneyGram Access in partnership with MoneyGram, allowing users to convert money into Stellar Lumens (XLM) and send it to any MoneyGram location worldwide. Similarly, the network also partnered with crypto exchange and custodian, Coinbase, to allow USDC stablecoins to be issued directly on the Stellar network.
Overall, Stellar’s growth metrics and development progress in 2022 have positioned it well to emerge even stronger from the crypto market winter. The blockchain network’s plans for the upcoming year could see XLM explode and reach new heights in the crypto market.