IOTA has successfully launched Chrysalis phase 1 on mainnet

  • IOTA has successfully completed the deployment of Chrysalis phase 1 which will bring 1,000 transactions per second and an average confirmation time for transactions of 10 seconds.
  • Node operators have to upgrade to Hornet v0.5.0, while Trinity wallet users have to upgrade to v1.6.0.

IOTA has reached an important milestone in its development. As announced by the development team, the introduction of Chrysalis phase 1 (also known as IOTA 1.5) has been successfully completed. Chrysalis is designed as an intermediate phase before the transition to IOTA 2.0, also known as Coordicide. During the deployment of phase 1, wallet users were asked not to attempt to send transactions. After the implementation of the upgrade on the mainnet was completed, the IOTA Foundation requested all node operators to upgrade to Hornet version 0.5.0.

In addition, the engineering team recommended an upgrade of the desktop version of the Trinity wallet. The mobile version will also receive an upgrade, however, the team is awaiting approval from Apple and Google. The IOTA engineering team stated:

Restart Hornet 0.5.0 with the overwriteCooAddress command once. Make sure to update your Trinity Desktop version. A Trinity Mobile update is also required but we are still awaiting reviews from Apple and Google.

IOTA’s improvements with Chrysalis phase 1

Via Twitter, the IOTA Foundation celebrated the launch of Chrysalis phase 1. In addition, they published a blog post about the new features and improvements that phase 1 brings to the IOTA mainnet. The most important improvement is the increased scalability of IOTA. With Chrysalis phase 1, IOTA is able to process more than 1.000 transactions per second (TPS) compared to 20 in the previous version:

Up until now, the network was only able to consistently handle Transactions per Second (TPS) in the 5 to 20 range. Nodes, especially those running older node software, would start to struggle above 40 TPS. With the whole network upgraded to Hornet nodes, improved tip selection and milestone selection algorithms, and the addition of white flag, the network is now able to support over 1000 TPS.

The same implementation that is now deployed on the mainnet has been able to reach 1500 TPS on our community testnet (comnet) during testing.

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Source: https://blog.iota.org/chrysalis-iota-1-5-phase-1-now-live-on-mainnet-958ec4a4a415

Through the upgrade IOTA will also able to implement more use cases that will benefit users and business partners by bringing IOTA one step closer to an enterprise-ready network.

At the same time, Chrysalis component enhancements allow for improved online confirmation rates. This means that, according to the IOTA Foundation, the experience of sending tokens from one wallet to another will be significantly improved. In addition, sent tokens will not require promotion or reconnection.

The average confirmation time of transactions on the IOTA mainnet should now be at least 8 times faster than before. With milestones being issued every 10 seconds, instead of around 80 seconds, tokens should now go from one wallet to another in a matter of seconds rather than minutes.

Users will also appreciate that, as stated by the IOTA Foundation, that with Chrysalis running a node “has never been easier”. Otherwise, Chrysalis will also bring improvements to the security and reliability of the IOTA network. For example, there will no longer be a risk of the network being affected by a spam conflict.

The white flag approach, implemented as part of Chrysalis Phase 1, completely negates some of the scenarios that impacted the confirmation rate in the previous network, such as conflict spams.

The next milestone will be the launch of Chrysalis phase 2. As stated by the IOTA Foundation’s Chief Engineer, phase 2 is well on track, while development already began on some of the components, like the new wallet and client libraries. Ultimately Chrysalis phase 2 will bring the following improvements:

This effort brings with it changes to every piece of the IOTA software, and will result in the support of a new signing scheme and with it reusable addresses, UTXO, new node API, new client library API, a brand new wallet for both desktop and mobile and more.

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