Sunday, September 27, 2020
No menu items!
  • News
  • Blockchain
  • Cryptocurrency
  • Contact Us
More

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

    Must Read

    Speculation among XRP Investors on Ripple Announcing More Notable Acquisitions Following CEO’s Statement

    There has been a growing speculation among the XRP community members that says that Ripple, the cross-border payment firm,...

    VeChain Integrates Coinbase’s Rosetta to Simplify Blockchain Interoperability

    A few hours ago, VeChain Foundation announced the integration of Rosetta, the Coinbase’s toolkit designed to simplify blockchain development...

    Veteran Investor Who Bought 1 Million BTC in 2013 Reveals Strategy for Success in Investing

    The chairman of Virgin Galactic, Chamath Palihapitiya, who purchased one million Bitcoin (BTC) in 2013, has revealed his investment...
    Avatar
    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.




    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.

    Join us on Twitter

    Join us on Telegram

    Join us on Facebook




    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest News

    Speculation among XRP Investors on Ripple Announcing More Notable Acquisitions Following CEO’s Statement

    There has been a growing speculation among the XRP community members that says that Ripple, the cross-border payment firm,...

    VeChain Integrates Coinbase’s Rosetta to Simplify Blockchain Interoperability

    A few hours ago, VeChain Foundation announced the integration of Rosetta, the Coinbase’s toolkit designed to simplify blockchain development and interaction. The open-source blockchain project...

    Veteran Investor Who Bought 1 Million BTC in 2013 Reveals Strategy for Success in Investing

    The chairman of Virgin Galactic, Chamath Palihapitiya, who purchased one million Bitcoin (BTC) in 2013, has revealed his investment strategy for spotting the next...

    Crypto Whales Moved $319 Million in BTC, ETH, and XRP As Market Recovers

    According to recent data, crypto whales are moving millions of dollars in Bitcoin (BTC), Ethereum (ETH), and Ripple’s digital token XRP, as the cryptocurrency...

    Cambridge Study: 100M People Worldwide Now Hold Bitcoin and Other Crypto-Related Assets

    As a notable indication that cryptocurrency is going worldwide, the research conducted by the Cambridge Centre for Alternative Finance shows that 100 million people...

    More Articles Like This