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According to an update published on 30th November 2020, IOTA Foundation has launched the Alpha version of the Firefly, a new wallet positioned to replace the popular Trinity wallet.

According to the Foundation, Firefly is a wallet specially designed for IOTA 1.5. And it’s worth noting that the new wallet indicates system overhauling, due to the structural and technical changes that are coming with the upgrade.

The team of developers involved in building the wallet has the improvement of user experience and security in mind. So, Firefly is a wallet expected to properly serve the current and future IOTA ecosystems.

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Firefly Wallet Has Security and User Experience in Mind

As aforementioned, the new wallet, Firefly, is built to bring improvement to user experience, coupled with the security of users’ funds. This implies that specific features meant to avoid flaws are introduced.

It can be recalled that the Trinity wallet was notably compromised earlier this year, compelling the IOTA Foundation to switch off the Coordinator for a number of days. The aftermath of this perpetration was the loss of relatively $2 million of users’ funds.

So, the hack raised solidarity for the provision of improved security of the IOTA network. And making the network fully decentralized and scalable by completely eliminating the Coordinator seems to be the right step to abate future attacks.

Thus, the introduction of Firefly is majorly based on drastically improving the security of the network. The use of Stronghold in the Firefly wallet is proof.

Stronghold is a collection of libraries for shielding personal details, which allows sensitive operations such as key generation and transaction signing to play out in isolated memory. This feature protects users from potential attacks and makes the wallet portable.

Read Also: IOTA Network Witnesses Notable Speed Increase with the Release of Hornet v0.4.0

There is also an introduction of the concept of profiles and accounts by the Firefly wallet, to improve user experience, coupled with navigation.

This feature enables users to securely access their wallets with their respective profiles. It also gives room to the creation of primary and sub-accounts.

In a nutshell, the features embedded in Firefly mentioned above are the improvements the wallet has over Trinity.

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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.