Market NewsJanuary 9, 2021 by Kelly Cromley

IOTA Gearing Up to Implement Chrysalis Phase 2

IOTA Foundation’s technical director Jakub Cech disclosed that the organization is moving forward in its plan of rolling out Chrysalis phase 2. It can be remembered that in August 2020, Chrysalis phase 1 was implemented on mainnet.

Furthermore, the initial alpha variant of phase 2 was unveiled in mid-December. The much anticipated Chrysalis phase 2, promised to be rolled out in “early 2021”, is getting near.

As per Cech, the core programming team is doing the necessary groundwork for full deployment of IOTA 1.5, also referred to as Chrysalis phase 2. In the past three weeks, during the trial of the alpha variant, the IOTA Foundation has been “testing various components, such as the Node software or the various libraries in the testnet.” Regarding the outcome of trial, Cech said:

“The testnet proved to be incredibly stable over the testing period and we are excited to be extending it with additional features soon.”

Regarding the advancement of distinct elements, Cech revealed that the Bee team has moved forward in deploying the latest node dashboard and inputting data. Furthermore, the total client API got over in December, the deployment of storage was made steady, finalized ledger logic, and tangle caching got operational.

Bugs were fixed in Hornet, the other node software, in addition to implementation of dust safeguard. Specifically, fixing bugs have “significantly improved the confirmation rate in the Chrysalis test network.” Furthermore, audits of all aspects are being carried out.

In light of this, the incorporation of Stronghold in the latest wallet Firefly is presently being worked out for the purpose of having a “comprehensive wallet audit” conducted in the next two weeks. Cech gave his views on the current situation as follows:

“A large part of the Chrysalis phase 2 effort is auditing the new functionality. We have started the audit on the protocol changes made to the node software. The wallet audit will also be happening in January.”

However, it is not just Chrysalis Phase 2, but even Coordicide (IOTA 2.0) could happen in the weeks ahead, at the minimum on a testnet basis. As Angelo Capossele stated on Discord the “full Coordicide solution will be implemented by Q1. Of course, this is an estimate. It may happen sooner, or a little later.”

As per the top Research Scientist, the IOTA Foundation looking at the implementation of the following:

“1. We need to finish refactoring the Tangle, its data flow, the Ledger state and the DAG branch manager. Then we can merge the Value Tangle with the Message Tangle.

2. After that we can finally integrate what we already have regarding Mana.

3. By that time, we should be ready to integrate the congestion control.

4. Somewhen in February we will integrate: Approval switch, Timestamp voting, epochs, approval weight and bind access mana with the congestion control.

5. Finally we will integrate Mana with FPC, dRNG, and then snapshots.”