IOTA’s Chrysalis Goes Live on Mainnet

IOTA announced the release of the first phase of the IOTA 1.5 upgrade onto its mainnet today. True to its promise, IOTA finally presented a considerable step in achieving its roadmap and more excellent opportunities for the community.

Before that, the project had published a release strategy, which is to happen in two phases. Today marks the beginning of Phase one after calculated research and application considerations on how best to integrate the new features into Chrysalis.

An Improved IOTA

According to Dominik Scheiner, the IOTA and IOTA Foundation co-founder, all credit goes to the team behind the development and the IOTA community for enabling the upgrade. In his opinion, the second phase will offer more improved features compared to this one.

Currently, IOTA is considered to be among the fastest networks, offering 10-second confirmation speeds. This is a considerable improvement from the previous 80-second rate.

Other Components

So what exactly can users expect? IOTA 1.5 offers over 1000 transactions per second, as opposed to the previous version, which struggled with capacities of 40 transactions per second.

The Hornet nodes upgrade, white flag application, milestone selection algorithms, and improved tip selection enable the Chrysalis mainnet to reach up to 1500 transactions. This will serve more significant traffic into the ecosystem with no delays.

Chrysalis phase 1 is also more secure and flexible. The white flag approach is aiding the network to eradicate issues such as conflict spams that compromised transaction speeds.

Additionally, the network is more compatible with any tip selection algorithm employed now or later. IOTA expects that it can comfortably conduct future changes as the tip selection algorithm upgrades now and then.

Finally, the running of nodes is also simplified to a 4-step command process on APT or Nuriel’s playbook. IOTA assures users of the smooth process with the utilization of appropriate hardware, adding to the nodes’ current stability and transaction capacities.

Autopeering facilitates an automatic search of nodes to peer, but the network still advises setting up manual peers for production purposes.

The Future of IOTA Blockchain

Sequentially, Trinity desktop wallet holders and node runners should upgrade their applications to fit the update.
The second phase, whose development started months ago, should come online later in the year. The whole purpose of the Chrysalis upgrade is to create a better ecosystem for an effortless transition into the Coordicide phase.

Before the launch of Coordicide, IOTA hopes to be enterprise-ready with the additional features present in IOTA 1.5 phase two.

The post IOTA’s Chrysalis Goes Live on Mainnet appeared first on CryptoPotato.

Publication date: 
08/20/2020 - 00:12

The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.