IOTA release of its new IOTA 1.5 update known as Chrysalis last August, will bring the network one step closer to implementing IOTA 2.0.
Chrysalis (IOTA 1.5) Phase 1, is an intermediate stage for the implementation of the IOTA 2.0, also known as Coordicide . With the launch of Chrysalis on IOTA mainnet, IOTA Foundation seeks to significantly improve performance in transaction and confirmation times.
The first phase of Chrysalis will allow network users to send and receive tokens from the platform in a shorter time. Likewise, the new update seeks to integrate new features in IOTA to improve the usability of the network.
The second phase of Chrysalis is envisioned to introduce functions such as inbound transactions ( UTXO ), reusable addresses, tokenized assets, and atomic transactions , which are a form of trustless and decentralized exchange.
Chrysalis Phase 1 Technical Aspects
Although the first phase of IOTA 1.5 came a month after the planned launch, there is no doubt that IOTA developers have made concerted joint effort to implement the new features and improve the usability and operability of the network.
Developers indicated that among implementations that users will see in this phase are:
The mainnet increased processing capacity from 1,000 to 1,500 TPS, a substantial increase for IOTA.
Higher performance and reliability for network nodes.
Simplification and reduction of node configuration times thanks to the automatic connection function.
Likewise, the developers affirm that for the implementation of these new functions the new update is required, which will include all the nodes of the network.
A Second Phase for Chrysalis
With the launch the first phase of Chrysalis, the team has set sights on the next phase as they plan by mid-October, an update leading to Coordicide, the long-awaited IOTA 2.0 that will define the network’s future.
Chrysalis Phase 2, prepares the network for IOTA 2.0. This will bring new functions to IOTA that represent important and significant changes to the core protocol and overall network structure. The new features, will enable IOTA to provide hardware support for major architectures. It also features a much more simplified design that will reduce the size of transactions, improving the performance and usability of the network.
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.
For its part, the integration of reusable addresses to IOTA also represents an important change, since it will simplify and facilitate the integration of exchanges, wallets and payment systems. It will also allow the transition from the WOTS address scheme to the EdDSA cryptographic signature scheme .