Home CryptoCurrency News IOTA Published New Details About The Upcoming Chrysalis Migration

IOTA Published New Details About The Upcoming Chrysalis Migration

The latest announcement from IOTA is focused on details about the final stages of Chrysalis migration. The new post gives additional information about the largest upgrade in the IOTA network’s history. These details are more about the upgrade process.

Chrysalis will be a whole new IOTA blockchain that differs fundamentally from the current network. Chrysalis is somehow a foundation for the Coordicide phase in the IOTA roadmap. These kinds of upgrades always come with a need for every user to upgrade their applications and tokens. So, the details about the upgrade process are crucial for every IOTA user.

Final Stages Toward Coordicide

The IOTA community was bustling in 2020, developing and making things ready for a significant upgrade. Coordicide is the ultimate goal for these upgrades that relies on multiple phases and steps. Chrysalis is one of the essential steps in this process. IOTA says the blockchain is ready at the final stages to complete the Chrysalis network. The latest blog post from IOTA focuses on the final migration process to Chrysalis phase 2. It has two essential steps before and after the Chrysalis launch.

coordicide

 According to IOTA, users who migrate their funds during the final week before Chrysalis launch will have access to their funds on the new network right away after launch. Those who don’t migrate their funds before launch will be able to migrate them after the launch in a continuous migration process. In other words, users can migrate their funds from the current network to the new Chrysalis whenever they want. But IOTA recommends exchanges migrate ahead of the network launch.

The announcement post continues with details about migrating for token holders. It’s a simple process that includes entering the current IOTA seed into the Firefly wallet. Firefly, the new IOTA wallet, will be initially available only for Mac, Linux, and Windows users. The migration process is the same for all IOTA holders, even Ledger Nano users.

The technical process of Migrating to Chrysalis is detailed in the latest IOTA blog post. According to the post, after the Chrysalis release:

“Both the legacy Mainnet and the new Chrysalis network will be operational. Users can freely migrate funds from the old network at any time, and funds will become available on the new network almost immediately. Funds will be allocated to EdDSA addresses on the new network through milestones based on the migration information from the legacy network.”


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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