IOTA continues to keep its community up to speed with the development of Chrysalis Phase 2 (IOTA 1.5), which is a critical upgrade to IOTA’s transition into an enterprise-ready blockchain.
In a blog post on 27th November, IOTA Foundation’s product manager Jakub Cech shared a number of notable updates to the community abreast of major developments.
The network made a major step towards removing the centralized Coordinator with the rollout of Chrysalis Phase 1 back in August.
It was able to reach 1,500 transactions per second (TPS), making IOTA scalable enough for various IoT solutions.
The team of developers is currently testing the functionality of Chrysalis on a private testnet that won’t see a pubic release before the following “bits and pieces” are completed:
- the CLI wallet — close to being finished,
- new faucet,
- complete infrastructure, which we are now reworking, set-up,
- node software stabilized — breaking changes will still be part of the testnet,
- wallet.rs with JS bindings,
- iota.rs with JS bindings.
After actively working on the implementation of Chrysalis Phase 2, the team is now in the process of auditing its components:
“We have booked the relevant availability with multiple external auditing firms for the upcoming weeks to start auditing the different components as soon as possible.”
According to the roadmap released back in June, the road to Coordicide (IOTA 2.0) will include three phases (Pollen, Nectar, and Honey).
While Chrysalis is a big deal for IOTA, it remains to be seen whether they will be able to pull off Honey.
IOTA 2.0– which will include all Chrysalis modules – is expected to be a fully decentralized distributed ledger network.
Firefly Coming Soon
As earlier reported, IOTA announced the upcoming release of its new wallet, dubbed Firefly, which is coming as a replacement for Trinity Wallet.
IOTA Foundation’s product manager, Jakub Cech, optimistic that the design of the wallet’s user interface (UI) will be finalized by the end of the week.
The first alpha version of Firefly will become available for the IOTA community in the near future.