IOTA will today release its new IOTA 1.5 update known as Chrysalis, which will bring the network one step closer to implementing IOTA 2.0.
From 8:00 am the new one will be available update de IOTA, chrysalis (IOTA 1.5) Phase 1, which is an intermediate phase for the implementation of IOTA 2.0, also known as in CoordiciWith the launch of Chrysalis on the IOTA mainnet, the IOTA Foundation aims to significantly improve performance in transaction and confirmation times, as well as the usability and reliability of the network.
Now with the new update, it allows the IOTA network to be able to process up to 1.500 transactions per second (TPS) with a confirmation time of just 10 seconds.
“Chrysalis Phase 1 components have been deployed on the Hornet node and the communications network. On comnet, spam tests have reached ~1500 TPS and over 1000 CTPS. Most value transactions on comnet are confirmed within 10 seconds of sending.”
The first phase of Chrysalis will allow users of the network to send and receive tokens from the platform in a much shorter time than before. Likewise, the new update, in general, seeks to integrate new features into IOTA to improve the usability of the network. For this, the second phase of Chrysalis is expected to introduce functions such as input transactions (UTXO), reusable addresses, tokenized assets and atomic transactions, which are a form of decentralized, trustless exchange.
It may interest you: Pollen, the new test network for the IOTA 2.0 update
Technical aspects of Chrysalis Phase 1
Although the first phase of IOTA 1.5 is coming a month after the planned launch, there is no doubt that IOTA developers have been making a concerted effort for some time to implement new features in the network and improve its usability and operability.
In this regard, the developers indicate that among the first implementations that users will see in this phase are:
- Shorter transaction confirmation time, approximately 10 seconds.
- The mainnet will be able to process 1.000 to 1.500 TPS, which is undoubtedly a substantial increase for IOTA.
- Transactions made on the network will not need to be re-attached.
- Increased performance and reliability for network nodes.
- Simplify and reduce node configuration times thanks to the automatic connection function.
The developers also state that the implementation of these new features requires the new update, which will include all nodes in the network, along with the IOTA coordinator node.
Plan, Action and a second phase for Chrysalis
IOTA's work and dedication does not stop. Today they launched the first phase of Chrysalis, the second phase of the update is being prepared for mid-October, and the next step will be Coordicide, the long-awaited IOTA 2.0 that will define the successful future of the network.
Chrysalis Phase 2, which will finish preparing the network for its new IOTA 2.0 release, will integrate new features into IOTA that represent major and significant changes to the core protocol and overall network structure. With the new features, IOTA will be able to provide hardware support for all major architectures, as well as feature a much more simplified design that will allow for reduced transaction sizes, improving network performance and usability.
Likewise, Phase 2 of Chrysalis will also integrate tokenized assets and colored coins, which will have the function of identifying and representing real-world assets within the network. Meanwhile, the integration of reusable addresses to IOTA also represents an important change, as it will simplify and facilitate the integration of exchanges, Wallets and payment systems, as well as allowing the transition from the WOTS address scheme to the cryptographic signature scheme EdDSA.
Continue reading: STM32Cube, STM's new features that facilitate access to the Internet of Things (IoT)
