- IOTA has made great progress on various subprojects such as Chrysalis, Bee, IRI, GoShimmer and smart contratcs.
- In addition, the roadmap for chrysalis has been updated and is scheduled to be completed by the end of October 2020.
In a new comprehensive development update, the IOTA Foundation has informed the community about the latest advances in Chrysalis, Bee, IRI, GoShimmer, Trinity and smart contracts. The focus of the programming and research work was on Chrysalis, which should be ready for business use before GoShimmer.
Chrysalis soon ready for business use
Earlier this month, Chrysalis (IOTA 1.5) was released, which included a number of different protocol upgrades that make Chrysalis compatible for cordicide. Since then the engineering teams have been working closely with the Hornet team to finalize all specifications for the first Chrysalis changes. These are expected to be released in the coming weeks.
The new roadmap for Chrysalis describes that Chrysalis will bring four advantages. The transition to Coordicide is to be facilitated with leaner code, the scalability is to be increased to several hundred transactions (TPS) per second, the developer environment is to be optimised and various components are to be made suitable for use in companies more quickly. In concrete terms, this first phase is to be completed by the end of June.
The Bee team has recently merged 2 RFCs (Request for Comments) and will also document further development work in detail. With the help of a member of the community, the Bee RFC Book was created. There all RFCs are documented and merged. Furthermore, the Bee-Team has started to implement the White Flag in the Bee-Node. The team is also working on the development of a prototype, which will be presented in the next weeks.
The Hornet team is currently testing the RC version of Hornet 0.4.0 and is also working on the migration from BargerDB to BoltDB. It is planned to release Hornet 0.4.0 within the next weeks. The team is also working on the following further updates:
The team has also started on implementing Weighted Uniform Random Tip selection (Protocol RFC #8) and White-flag (Protocol RFC #5) Chrysalis changes. The upcoming release of Hornet 0.4.0 already contains Autopeering, which is also part of Chrysalis.
The Smart Contract Team has been extended, the complete development has been completely decoupled into a separate node called Wasp. Wasp will connect to GoShimmer to access the Tangle. The team has also integrated Wasp’s State Manager and Consensus Operator components. Transaction throughput has been improved because requests are now processed in batches.
In addition, the mocking of the value transaction flow of GoShimmer and UTXO-Ledger was implemented, in order to be able to test all important functions until the Value Tangle is completely finished. It is also important to note that a new version of the Trinity desktop wallet 1.5.0 has been released. This contains important bug updates and can be downloaded from this page (Desktop) or the mobile version.
IOTA price follows current market trend
The entire crypto market is currently in an uncertain phase as the pre-halving hype has flattened out and a new direction must now be found. MIOTA’s price has dropped by 2.30% within the last 24 hours to a price of $0.20. With a market capitalization of $557 million, IOTA is ranked 24th among the largest cryptocurrencies worldwide. You can check the price development of over 5,000 in our chart ticker.
