IOTA have published their strategy for Chrysalis (IOTA 1.5). This exciting new phase for the IOTA protocol brings substantial improvements to the speed, usability & performance of the network. Users can now read about its components, timeline, and importance.
IOTA Foundation is well aware and has forever had its primary role set to define and deliver on a development roadmap that will move IOTA towards production-readiness and adoption.
The DLT ecosystem is ever-changing and complex, and it has a very clearly defined vision. They have a clear strategy about how they are going to achieve their vision. This has been their key to success all these years.
IOTA recently tweeted: “We are happy to have been selected as one of the finalists of the SmartDevelopmentHack to develop digital solutions in response to Covid-19 and other humanitarian emergencies together with our partners. We are excited to see the outcomes of this initiative!”
Prof B Buchanan OBE recently appreciated the researchers at IOTA by stating, we collaborate with many organizations, but the quality of the @iota token researchers is second to none. Such dedication and passion. Great coders and strong informal methods/maths.
Sydney Ifergan, the crypto expert, tweeted: “Looking forward to the fruition of the IOTA Foundation’s objective over the next two quarters to successfully implement Chrysalis.”
Bernardo A. Rodrigues, Embedded Linux Engineer at IOTA Foundation, tweeted: “I just made a presentation for the IOTA Evangelist Network IENofficial about HONEYCOMB OS, the IOTA Linux Distro.”
IOTA Outcomes of the Chrysalis
The IOTA mainnet has been around since 2016. When a new engineering strategy is defined, it should ensure adapting to the industry feedback and demands. This also means having to deal with difficult decisions, whether about discontinuing or redefining certain projects which are not feasible any longer or irrelevant. IOTA is, therefore, focusing on a new strategy that will be adopted within a 2-year timeframe.
IOTA is now focusing on the next version of their protocol, which is Chrysalis, to successfully “specify, implement, test and upgrade the IOTA mainnet, and adjacent technologies to the new version of the protocol.”
The outcomes of the Chrysalis are Simple transition to Coordicide, Substantial performance improvements, improved developer experience, and Accelerated adoption.
The implementation of Chrysalis is set to be in two phases. The first phase consists of improved tip selection (URTS), Milestone selection, White flag, and Autopeering. The second phase consists of UTXO, Atomic Transactions, Reusable addresses (Ed25519) and, the transition to a binary transaction layout. IOTA is working from their plan to action and looking to see the best from the upgrade.
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