IOTA Deploys Chrysalis Phase 1 Upgrade; Network Capacity Boosted to Over 1000 TPS


The IOTA Chrysalis upgrade has gone live on the Mainnet, marking the first phase of its deployment. Its success comes as a significant milestone in IOTA’s journey towards full decentralization, being the intermediate stage before the much anticipated 2.0 launch. Chrysalis upgrade, which is also dubbed ‘IOTA 1.5’, comprises components that will boost IOTA’s blockchain usability, performance, and reliability.

According to the announcement blog by IOTA on August 19, the first phase of Chrysalis will boost IOTA’s efficiency to over 1000 TPS and could go up to 1500 TPS as had been achieved during the community testing.

While the progress made with launching Chrysalis on the Mainnet is a significant milestone, it quite noteworthy that IOTA will only become fully decentralized once the coordinator is removed; this is where the final decentralization phase ‘Coordicide’ derives its name. The IOTA ecosystem will move from being verified based on a centralized server to decentralized network contributors.

Other Improvements on IOTA’s Ecosystem

Apart from increased network capacity, the Chrysalis upgrade comprises of technological advancements that boost its other functionalities too. The blog notes that token transfers can now happen in a matter of seconds, given an improved average confirmation time by at least eight times. IOTA has also become more reliable and secures based on the white flag approach and compatibility with various tip selection algorithms.

Chrysalis has also simplified the process of running and maintaining nodes on IOTA; the upgrade allows interested contributors to initiate and complete this procedure in just four commands via Nuriel’s playbook or APT. Wallet users have since been directed to upgrade their Trinity Desktop version as IOTA awaits reviews from Google and Apple on the mobile version.

Following the success of Chrysalis phase 1 deployment, IOTA noted that phase 2 should be up and running by the end of 2020 in preparation for coordination. By then, improvements under Chrysalis should have made the network enterprise-ready.

IOTA Live Price

1 MIOTA/USD =$1.1640 change ~ -3.72%

Coin Market Cap

$3.24 Billion

24 Hour Volume

$55.07 Million

24 Hour VWAP

$1

24 Hour Change

$-0.04

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide