The #IOTA #Foundation, the nonprofit behind the development of the IOTA DLT blockchain focusing on IoT use cases, proudly presents its latest update, the Firefly wallet.
The IOTA Foundation, the nonprofit behind the development of the IOTA DLT blockchain focusing on IoT use cases, proudly presents its latest update, the #Firefly wallet.
Representatives of the IOTA Foundation emphasized that end-user wallets remain the highlight of the entire cryptocurrency ecosystem as they need to consolidate all functions in 2021: crypto storage, swap, trade, #NFT hosting, etc. The new Firefly is designed to achieve these ambitious goals.
First, Firefly was introduced as an intuitive application with a bright interface. IOTA co-founder David Sonstebo previously claimed that Firefly will set new standards in terms of UX / UI design. Each element of IOTA's Firefly is designed to eliminate the hassle that users face today when interacting with cryptocurrency wallets. Its architecture is designed to be "modular" and therefore easy to understand.
Dominik Schiener, co-founder and president of the IOTA Foundation, states that Firefly will surpass what is now called a " cryptocurrency wallet":
“This release marks the beginning of IOTA as a widely used application ecosystem. Firefly will bring a new standard of usability and flexibility to the wallet space. "
Encryption, Backup, Portability: What's New in Firefly
At the core of IOTA Firefly are two libraries: one for application development and the other for security. The new wallet is protected by encrypted backups and secure storage areas (sensitive transactions to be placed in isolated memory slots).
Firefly's processes were authorized much faster than its predecessor, Trinity. Firefly users can easily manage multiple accounts and restore their wallet to multiple devices with a patented Stronghold backup. The development team is making numerous additions to the upcoming system, including chat and contact management modules, NFT storage and seamless wallet integration.