Home CryptoCurrency News Firefly Will be the New Wallet for IOTA 1.5

Firefly Will be the New Wallet for IOTA 1.5

IOTA published some new details about the development processes towards IOTA 1.5. The team is working hard to make IOTA a comprehensive blockchain solution for enterprises. One of the new components in this development process is the Firefly wallet, which will act as a complete IOTA solution.

Creating a solution for enterprise-level customers has always been an area of focus and effort in many blockchain networks. IOTA is one of them that has been busy in the past months to develop a complete business-focused product. They want to launch the fully decentralized IOTA in the future, and IOTA 1.5 is one of the essential steps in that path.

Some of the old components will be removed from IOTA to transition it from an experimental solution to a practical one. According to the latest announcement:

“Experimental features like trinary encoding and Winternitz One-Time Signatures (W-OTS) have been removed and replaced with carefully-selected, tried-and-tested standards. These changes will allow IOTA to realize the original promise of a DAG-based DLT protocol without the technical baggage and entry barriers introduced by early design choices.”

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Trinity has been the primary wallet for IOTA users until now. It has been very successful in serving users and providing useful functionalities. But the team believes in the process of a comprehensive solution they need to improve their offerings. As a result, Trinity will remain in IOTA 1.0, and the team will launch a new wallet for IOTA 1.5.

IOTA says the primary wallet for IOTA 1.5 will be Firefly. They have used their expertise and experience from the past years to rethink the wallet’s logic and design parts. As a result, Firefly will be a completely new wallet for IOTA users with more services.

 The infrastructure level of Firefly is designed somehow to support additional features in the future. They will add features gradually to make Firefly a complete cryptocurrency solution.

According to ti the recent announcement, security is one of the essential priorities in the development of Firefly:

“The major steps forward in Firefly’s first version are security, core user experience, and expandable architecture. If you want an app to become an extensible platform, your primary focus should be on perfecting your core.”

The first version of Firefly will be released with essential features like profiles, new UX, and some benefits of Chrysalis like reusable addresses, 24-word recovery phrases, and improved network performance.

If you are interested in this project and want to be informed of everything that happens, visit our Iota News section

Mehdi Zare
Mehdi Zare
I am a young father who always loves to learn. Security and privacy topics are my main interests, and so, blockchain as one of the most strong security and privacy solutions of the modern industry excites me too.
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