IOTA, the 20th largest crypto in the market by capitalization, plans to release the first phase of Chrysalis, also known as IOTA 1.5, next week, the project has reported through Twitter.
According to the announcement, the update will bring many new features, including the fact that the network will be able to process 1,000 transactions per second and that confirmation times will be reduced to 10 seconds.
IOTA launched in June the latest version of Hornet, its node management software, paving the way for the arrival of IOTA 1.5 after a community-driven stress test that resulted in a stable network with more than 150 nodes. The tests showed the upgraded network consumed 10 times less memory than the previous IOTA node software.
During the coronavirus pandemic, a team based in Madrid has developed an IOTA-based platform to help fight the virus.
At the moment, the crypto has posted a growth of 12.62% over the last 24 hours to reach $0.392.
IOTA's wallet Trinity was attacked in February by hackers who took over $300,000 to $1.2M in IOTA tokens. IOTA suspended its network after the attack in order to "make sure no further theft could occur until they found out the root cause of those thefts".
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