February 24, 2021

IOTA plans to launch Chrysalis update in March

IOTA plans to launch Chrysalis update in March

The IOTA Foundation plans to roll out the Chrysalis update to the mainnet in March 2021.

Project developers announced significant progress and readiness to move to full decentralization in the Chrysalis network in March.

The Testnet Chrysalis, launched on December 14, has proven its readiness to fully operate and deploy Coordicide - IOTA 2.0.

The function of tokenization and rapid tracking of the activation of digital tokens is the main task for the next period.

Unlike other blockchains, the IOTA network is secure, decentralized, and energy efficient despite using the Proof-of-Work consensus algorithm.

In addition, the network can scale, whilethe bandwidth increases with the needs of the network. Unlike Bitcoin or Ethereum, which currently suffer from high fees, IOTA's scalability means zero transaction costs, even for intensive projects.

The developers have created a new Firefly wallet from scratch to replace Trinity. In addition, IOTA launched its own oracles to protect against data manipulation.

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