Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Submit Press Release
  • Disclaimer
  • Cryptocurrency
  • News

IOTA Completes Chrysalis Upgrade, Advances to Token Migration Phase

Tobi Loba April 21, 2021 3 min read
IOTA Completes Chrysalis Upgrade, Advances to Token Migration Phase

According to a press release shared with Herald Sheets, IOTA Foundation, the non-profit building the infrastructure for the Machine Economy and Internet of Things (IoT), is today completing Chrysalis, the most extensive network upgrade in its history.

Starting from today, there will be a 1-week token migration phase. The Chrysalis network upgrade is slated to go live on 28th April 2021, when the current Mainnet will become the IOTA Legacy Mainnet.


trade now

Read Also: Read Also: IOTA Moves Closer to the Launch of Chrysalis Phase 2

This much-anticipated upgrade will move IOTA out of the experimental phase into an enterprise-ready ecosystem that is open to real-world use cases.

The Chrysalis upgrade has an impact on all aspects of IOTA, such as wallets, libraries, software implementations, and security protocols. It will also serve as a foundation for the upcoming rollout of Coordicide.

The report reads in part as follows:

“Chrysalis marks a true rebirth for the IOTA protocol, as it is the launch of an entirely new network. This relaunch will bring IOTA up to the level of an enterprise-ready product that is fully equipped for use in outside organizations and businesses that wish to leverage the power of the Tangle.

Read Also: IOTA to Challenge Chainlink with Alvarium in an Oracle Collaboration with Dell

“Chrysalis improves the efficiency, security, scalability, and stability of the IOTA protocol, and moves the IOTA Foundation firmly out of an experimental concept phase into an enterprise-ready, plug-and-play DLT ecosystem.”

According to the report, the upgrade is the second and final phase of the Chrysalis upgrade. The first phase played out in September 2020. Considering IOTA Foundation’s roadmap, the final and major milestone will be Coordicide, which is slated for the end of 2021.

The report added that the Chrysalis upgrade will make the rollout of Coordicide by the end of the year seamless, due to the fact that many of the changes required for Coordicide have already been achieved now with the Chrysalis upgrade. This also implies that any enterprise applications that are implemented between now and the launch of Coordicide will undergo only minor adjustments to the fully matured Coordicide network.

Read Also: IOTA Co-Founder Dominik Schiener Brings Fintech Startup CredX To Distributed Ledger Ecosystem

As stated in the press release, highlights from the Chrysalis upgrade include the following:

  1. Enterprise-ready – Integration with IOTA is now largely plug and play, a completely new network that is able to scale to the demands of production-level clients. IOTA’s Chrysalis update brings an enterprise-ready product to market.
  2. Standardization – IOTA Chrysalis modules are now based on industry standards, utilizing the most widely researched, highly vetted, and well-established standards to provide easy integration for the industry.
  3. Improved usability – Whether it’s the sleek new interface of the Firefly Wallet or the standardized software bindings for most programming languages, IOTA Chrysalis represents a complete revision of user interfaces.

Read Also: Chrysalis Will Transform All Developers Tools, Node Software in the IOTA Ecosystem

Reacting to the new development, Co-Founder and Chairman of the IOTA Foundation, Dominik Schiener said:

“IOTA’s new dawn has arrived. We now have an enterprise-ready platform that will please both industry and consumer users with its enhanced functionally, industry-standard upgrades, and energy efficiencies. Our engineers have worked diligently to build the foundation for Coordicide and beyond.”

So, token holders and service providers are thereby urged to migrate their tokens during the migration phase or after the official rollout of Chrysalis. But it’s recommended for exchanges to migrate ahead of the launch to avoid service interruption.


Follow us on Twitter, Facebook, Telegram, and Download Our Android App

Trade Now

HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us easily with Herald Sheets Facebook Messenger App. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Continue Reading

Previous: Task Founder: Stellar Lumens (XLM) Emerged To Make Currencies Fast and Efficient
Next: Cardax, First Decentralized Exchange (DEX) On Cardano to Launch

Related Stories

What is a Bear Trap in Trading and How Does It Work?
11 min read
  • Crypto Trading
  • Guide
  • News

What is a Bear Trap in Trading and How Does It Work?

August 13, 2022
All You Need To Know About Virtual Asset Service Provider (VASP)
11 min read
  • Cryptocurrency
  • Guide
  • News
  • Regulation

All You Need To Know About Virtual Asset Service Provider (VASP)

August 13, 2022
Animoca Co-Founder Says Web3 Requires More Developers For A True Decentralized Environment
3 min read
  • Cryptocurrency
  • News
  • Web3

Animoca Co-Founder Says Web3 Requires More Developers For A True Decentralized Environment

August 12, 2022

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$24,664.00
0.60%
ethereum
Ethereum (ETH)
$1,999.80
0.22%
tether
Tether (USDT)
$1.00
-0.04%
usd-coin
USD Coin (USDC)
$1.00
-0.30%
binancecoin
BNB (BNB)
$328.62
0.90%
cardano
Cardano (ADA)
$0.59
5.82%
ripple
XRP (XRP)
$0.387423
1.65%
Binance USD
Binance USD (BUSD)
$1.00
-0.32%
polkadot
Polkadot (DOT)
$9.47
-0.41%
dogecoin
Dogecoin (DOGE)
$0.079475
8.75%

Recent Posts

  • What is a Bear Trap in Trading and How Does It Work?
  • FxCapital360 Review – Is FxCapital360 Scam or a Proper Broker?
  • All You Need To Know About Virtual Asset Service Provider (VASP)
  • Animoca Co-Founder Says Web3 Requires More Developers For A True Decentralized Environment
  • Nvidia Launches New Developer Tools To Up Its Metaverse Bet
  • Velocity Trade Review – Is Velocity Trade Scam or a Proper Broker?
  • Blockchain vs. Database: How Do They Differ?
  • Paper Wallets: How To Secure Your Crypto Assets
  • New Report Says Nigeria Has Become the Most Crypto-obsessed Country
  • Institutional Demand for BTC Is Insatiable, Says Kevin O’Leary
  • Money-Laundering And Wash Trading In NFTs – All You Need To Know
  • Alfabtc Review – Is Alfabtc Scam or a Proper Broker?
  • Ethereum Whales Holding SHIB Remain Undefeated, but Here’s the Catch
  • Here’s Why Celsius (CEL) Gained 109% Within a Month
  • Security Tokens Vs Utility Tokens: How Do They Differ?

Categories

You may have missed

What is a Bear Trap in Trading and How Does It Work?
11 min read
  • Crypto Trading
  • Guide
  • News

What is a Bear Trap in Trading and How Does It Work?

August 13, 2022
FxCapital360 Review – Is FxCapital360 Scam or a Proper Broker?
4 min read
  • Cryptocurrency Brokers News and Reviews

FxCapital360 Review – Is FxCapital360 Scam or a Proper Broker?

August 13, 2022
All You Need To Know About Virtual Asset Service Provider (VASP)
11 min read
  • Cryptocurrency
  • Guide
  • News
  • Regulation

All You Need To Know About Virtual Asset Service Provider (VASP)

August 13, 2022
Animoca Co-Founder Says Web3 Requires More Developers For A True Decentralized Environment
3 min read
  • Cryptocurrency
  • News
  • Web3

Animoca Co-Founder Says Web3 Requires More Developers For A True Decentralized Environment

August 12, 2022
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%