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- The IOTA Foundation has completed the CLI wallet and will launch a new faucet to launch the Chrysalis phase 2 public test network
- Before the end of 2021, the Firefly wallet, which will replace Trinity, will be released
- Bitfinex has completed the migration to Chrysalis, while Upbit and Binance are still working out the details
The launch of chrysalis Phase 2
On the launch of Chrysalis Phase 2, also known as IOTA 1.5, IOTA Foundation Technical Director Jakub Cech provided an update on developing the most critical components. It’s one of the most highly awaited IOTA launches since it marks the halfway point to the Coordicide’s completion.
Despite a postponement in October, phase 2 is set to begin in early 2021. The modules and new functionalities are being evaluated on a private network, according to CNF. The “tools” for launching a public test network are expected to be ready next week. In this regard, Cech announced that the CLI wallet had been completed, a new faucet will be launched shortly, and the Hornet team’s infrastructure has been completed. The developers have worked together to stabilize the node program and achieve the wallet. JS bindings for rs and JS bindings for Iota.rs Cech said We’re putting the finishing touches on getting all of the pieces in place to make the testnet public. When all of the details are in place, we’ll release the first version of our public Chrysalis testnet.
The IOTA Foundation has scheduled external audits of the update. These should begin in the coming weeks to assess how the various components function. They will be able to gain validation from specialized external bodies in this way, giving the IOTA community trust.
Individual progress in the IOTA update
IOTA users will now have access to the much-anticipated Firefly wallet as part of the update. The team was working on linking wallet.rs to the application to compete.
According to CNF, Firefly will add new features. Users would be able to use profiles, reusable addresses and benefit from better network capacity, for example. At the end of the year, the desktop version will be released.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
