Sunday, April 11, 2021

IOTA Foundation Announces the Launch of Chrysalis Phase 1 on Mainnet with Over 1000 TPS

IOTA Foundation has officially announced the launch of Chrysalis Phase 1. This, according to the report, is the first phase of IOTA 1.5, the intermediate stage of mainnet before Coordicide.

The report also added that Chrysalis Phase 1 is a technology developed to improve the reliability, performance, and usability of the IOTA network.

The components behind this improvement are based on Coordicide research. So, Chrysalis has brought these improvements to the existing network before the advancement into IOTA 2.0.

IOTA Foundation tweeted, “Chrysalis (IOTA 1.5) Phase 1 is officially live on the mainnet! We’re thrilled to release the first set of features stemming from months of dedicated research and development.”

Drastic Improvement to IOTA Network Capacity, Security and Reliability

According to the report, the upgrade of the whole network to Hornet nodes has drastically improved the IOTA network capacity to handle over 1000 Transactions per Second (TPS), due to the improved tip selection and milestone selection algorithms, coupled with the addition of white flag.

As a confirmation of the improved network capacity, the same implementation recently deployed on the mainnet was able to handle 1500 TPS during testing.

So, this huge improvement implies that the IOTA network is now capable of powering many use cases and business partners concurrently, making it a few steps to becoming an enterprise-ready network.

Based on the improvement to Token Transfer, the report says, “The average confirmation time of transactions on the IOTA mainnet should now be at least 8 times faster than before. With milestones being issued every 10 seconds, instead of around 80 seconds, tokens should now go from one wallet to another in a matter of seconds rather than minutes.

As aforementioned, the upgrade has brought a huge improvement to the security and reliability of the IOTA network. The implementation of white flag approach as part of Chrysalis Phase 1, solved the problem of transaction confirmation that battled with the previous network, such as conflict spams, the report has said.

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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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