The #Chrysalis #Network, which is stated to move #IOTA to 100 percent #decentralization, was officially launched. Complete migration to Chrysalis, which is expected to provide a faster, more efficient and more secure IOTA network; Nodes online will be completed after the new Coordinator is made available and the 'genesis' transactions are created for the new tokens .
The transition to Chrysalis is referred to as the “newborn sun” by both the community and the IOTA Foundation because with this new protocol, new tokens and a new network are being created. IOTA's old network will now only be used to move old tokens to the new network. Chrysalis is seen as an important bridge in the transition to the Coordicide Network, which is vital in IOTA's transition to complete decentralization.
After the transition to Chrysalis is complete, it is aimed that the foundation's engineers will turn entirely to Coordicide, digital assets and smart contracts. The next major milestone will be the Nectar Network, a coordinator-free and completely decentralized network that will be launched within a few weeks. Nectar's goal is to find any errors or bugs that may occur in #Coordicide before any updates, and to fix the problem and make improvements.
In the statement made by the IOTA Foundation regarding the transition, the following statements were used:
“Our partners, academia, and developers can now start working on Tangle. There will be no big changes on the way to IOTA 2.0, namely Coordicide. The majority of current code-based tools and APIs are already available in Chrysalis. Projects built on today's code base will not require major changes in the future. "
The migration of 20 percent of the tokens in the IOTA Network, worth about $ 1.4 billion, was ensured prior to the launch of Chrysalis and is now available in the #Firefly #wallet.