IOTA Releases Its Strategy for Chrysalis Phase

News
Fri, 05/15/2020 - 19:08
Alex Dovbnya
IOTA wants to ensure a smooth transition to the Coordicide era with the implementation of Chrysalis
Cover image via U.Today
Contents

The IOTA foundation has introduced its engineering strategy for Chrysalis, which will be an intermittent phase before the eventual launch of Coordicide.

The intended purpose of Chrysalis (IOTA 1.5) is a smoother transition to the much-hyped protocol upgrade that will make the network coordinator-free.  

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A slew of major improvements

With Chrysalis, IOTA wants to add significant performance improvements that will make the project more attractive for developers and enterprises. 

Particularly, it will substantially increase the transaction throughput of the mainnet to ‘several hundred TPS.’ 

Meanwhile, developers who build on top of IOTA will be able to take advantage of new libraries and modules.        

The implementation of Chrysalis will take place in two stages that are expected to be finished in July and October, respectively.    

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The coordinator-free future 

IOTA, whose mainnet was launched back in 2016, could theoretically handle an unlimited number of transactions per second because of a distributed ledger technology called ‘Tangle.’

However, due to the Coordinator (or the ‘Coo’), which ensured the security of the network, it remains centralized.

With the launch ‘Coordicide,’ IOTA plans to kill the coordinator, which could make it the first scalable DLT network.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.


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