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IOTA Foundation To Implement Chrysalis Phase 2 And Coordicide In Q1

IOTA PRice Analsysisa

The IOTA Foundation has revealed that the much-awaited Chrysalis phase 2 project will be deployed soon. Technical director at the foundation Jakub Cech, in a blog post, stated the company’s desire to deploy phase 2 after deploying its phase 1 mainnet in August last year. The company had already rolled out the first alpha-version of the phase 2 project earlier in December.

At the time, IOTA hinted that the phase 2 mainnet will be released in early 2021, and it seems the project is almost set. Cech said the development team is working presently to ensure full implementation of the IOTA 1.5 project as early as possible. He however reiterated that the team is not in a hurry because they want to make sure the launch goes smoothly.

As part of the alpha version testing, the company has tested different components within the past month to ensure flawless and technically sound implementation. The testing also includes the test of various libraries as well as the Node software in the testnet.

Cech reiterated that the purpose is to make sure nothing is left to chance when the project is fully launched.

Client API already concluded

Cech also pointed out that the Bee team has fed data into the node dashboard and a lot of progress has been made as well. Additionally, he said the whole client API was concluded back in December, with the finalization of ledger logic, and the implementation of storage.

Hornet, which is the other node software is getting treatment for dust protection and receiving bug fixes. All these updates, according to Cech, will considerably improve the confirmation rate in the IOTA 1.5 network.

Also, the report revealed that the new wallet Firefly is being integrated into the stronghold for better performance and a “comprehensive wallet audit” that will start at the end of January. He also said the company intends to begin the wallet audit later this month as well.

Coordicide (IOTA 2.0) will be implemented

Apart from the implementation of Chrysalis Phase 2, the plan is to also implement Coordicide (IOTA 2.0), and this may begin in the next few weeks. IOTA hopes to implement the complete package before as early as Q1, although it may occur sooner or a bit later.

Senior research analyst at IOTA Angelo Capossele stated that the company has already mapped out implementation plans for the project.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.