IOTA: Important Updates for Bee, Chrysalis and Smart Contracts

IOTA: Important Updates for Bee, Chrysalis and Smart Contracts

IOTA Foundation has made remarkable updates on the Bee, IRI, Chrysalis and the Trinity wallet project, Crypto News Flash website reported.

Changing the roadmap a little, the foundation has stressed some features such as smart contracts which will be launched soon because such features see high demand.

Chrysalis, Bee, Triniy receive significant updates

Developers indicated that they collaborated with the Hornet team to finalize the specifications for the first changes in chrysalis. The most significant improvements are the random tip selection (protocol RFC #8) and white flag (protocol RFC # 5). They also include the signature scheme ed25519 (protocol RFC # 9).

Moreover, developers are already testing the autopeering in the Hornet node software. Thus, the autopeering will be deployed in the next Hornet version. The team is completing the final work on the first Bee prototype. Bee has already showed successful performance in first internal testing.  

IOTA has launched the IRI 1.8.5 last month, to remove major changes in the bundle validity rules. Version 1.8.6 will receive further updates, and thus will be introduced the next week.

IOTA is focusing on delivering significant features that boost demand in the industry. Thus, the foundation is designing new approach for smart contracts as a layer 2 solution. This is to perform complex functions to Ethereum on the Tangle.

To show the far-reaching features of the Unified Identity Protocol, Trinity developers are focusing on developing a PoC app and website. Meanwhile, the Go-Shimmer team is developing other features via the attached FPC protocol to support value transactions with conflict resolution. GoShimmer’s latest edition is scheduled to go live early in June.

IOTA discloses clues about Sharding Solution

IOTA developer Hans Moog has talked in a series of blog posts about the sharding solution for IOTA Tangle.

While the technology is still being studied, Moog said it is too early to discuss them publicly, adding that IOTA faces different challenges than other cryptocurrencies such as Ethereum.

It is worth mentioning that developers do not face the problem of increasing transaction fees while the network is heavily loaded, due to IOTA Tangle’s fee-of-charge system. 

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.