- According to IOTA’s Jakub Cech Chrysalis phase 2 opens up new application scenarios that were previously difficult to implement.
- The effort for the implementation of Chrysalis phase 2 is much higher compared to phase 1.
In the third episode of “Open Sourced” Jakub Cech, Director of Engineering at the IOTA Foundation, presented the functionalities of Chrysalis phase 1 and gave an overview of the upcoming features that will be released with Chrysalis phase 2. With regard to phase 2, Cech noted that the development of the new wallet and client libraries, as well as the implementation of the new transaction layout is already underway. However, the effort compared to phase 1 is much higher, according to Cech:
In general, this is a much larger effort than Chrysalis phase 1 because everything needs to change: the node software, the client library, everything that takes some kind of dependency on those have to adjust to the new APIs. And everything has to be updated, even products like Streams have to adjust for example.
But as Cech further explored, this also brings many benefits to the network. For example, there will be reusable addresses with Chrysalis phase 2, so users can send IOTA tokens to and from a single address more than once. This opens up new application scenarios that were previously difficult to implement:
And this is actually that enables a lot of scenarios that were only possible with workarounds before and with a lot of extra implementation underneath and any kind of client library for example.
In addition, the so-called “bundles” are removed in favor of atomic transactions and a binary transaction layout, making development much easier. This also removes the need to convert from binary to trinary, so that “everything way more efficient than before”.
Another innovation is the development of “high level APIs”, which will greatly speed up and simplify integration and maintenance by enterprises. In addition, a new node API is being developed that will be available for both Hornet and Bee.
The new wallet, which will be released together with Chrysalis phase 2, will replace IOTA’s flagship wallet, Trinity, and integrate the Stronghold library. The fifth major innovation, according to Cech, will be the introduction of the UTXO model, which will make it easier to calculate the status of the ledger and will also enable support for colored coins, among other things. In the long term, the change to the UTXO model will also enable the integration of scaling technologies such as sharding.
Below you can find the entire episode of “Open Sourced”.
Der Beitrag IOTA Chrysalis phase 2 will create new application scenarios erschien zuerst auf Crypto News Flash.