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- 1 The IOTA ecosystem is dedicated to integrating blockchain into Internet-of-Things (IoT).
- 2 Currently, it is offering the Firefly wallet and also launched a Web3-oriented crypto called Shimmer.
- 3 It announced that the former Firefly team is working on a new wallet, Bloom.
IOTA is an open-source blockchain specifically developed for the Internet-of-Things (IoT). It introduced an unusual design for executing its transactions. It achieved consensus through a coordinator node and facilitated microtransactions. However, it was changed later due to worldwide criticism.
Since the beginning, the platform has been using the Firefly wallet. Recently, the former Firefly developer team announced that they’ll introduce a new wallet, Bloom.
Insights Into The New Wallet: Bloom
The team that previously worked on Firefly wallet has proposed Bloom. According to the team, it’s a user-centric desktop wallet with robust security and pleasing aesthetics. This new wallet will be inducting a whole range of ingenious features.
It would support seamless connections with dApp and EVM. For all the IOTA ecosystem users, it is a big initiative. A few days back, the team introduced Shimmer and ShimmerEVM on the same platform.
These two are layered protocols that would bring interoperability in Web3 systems without a fee. They also rule out the intervention of any outside third-party application. In the near future, developers will integrate Shimmer into all the IOTA networks. More interestingly, they all will be accessible on a single app.
Paving The Way For Web3 Experience
Bloom aims to simplify the core Web3 wallet usage for all IOTA users. Built using Firefly’s framework, the new wallet emerges as the most intuitive and secure program in the market. The Firefly veterans leading the talented Bloom team are Nicole O’Brien and Charlie Varley. The developers are Matthew Maxwell, Mark Nardi, Jean Ribeiro, and David de Troch.
Digital Zen, led by Andrew Brough, is providing the independent UX consultation to the team. Notably, Andrew Brough is the former director of UX and Design at the IOTA Foundation. The team’s expertise played an instrumental role in Firefly’s success. All the users are expecting that they’ll achieve another feat with Bloom as well.
Eyeing IOTA 2.0 and Shimmer
Reportedly, the Bloom team is also working on IOTA 2.0. The Bloom wallet will promote healthy competition across the entire ecosystem. It will enhance collaboration and make development easier than ever. The development process will take place on Firefly alongside Bloom. While Firefly will focus on core protocol, Bloom will work on user-facing features. The former will undertake the testing of new upgrades including IOTA 2.0.
The latter will deploy cutting-edge advancements to enrich its entire ecosystem.
Things To Know About IOTA
When crypto users criticized the unique design of the IOTA blockchain, the team had to change it. The developers rewrote it from scratch and called the upgrade Chrysalis or IOTA 1.5. The upgraded version replaced uncustomary specifics with the established standards. They deployed a testnet called Coordicide for follow-up purposes. Its other objective was to release a distributed network that could operate without the coordinator.
Today, it seems that the ecosystem has gained users’ trust. It’s taking further steps to strengthen the structure with more advanced solutions. The investors as well as users are glad to hear about the new additions.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
