The Crypto Finance Group has announced that it will support the upcoming IOTA upgrade. After participating in the planning and development of the upgrade
Crypto Finance Group announced that it will support the latest IOTA upgrade after having been involved in the development of Chrysalis.
Currently, the Crypto Finance Group is providing access to the IOTA ecosystem by providing storage solutions to financial institutions and intermediaries. This makes the company the first professional IOTA token storage provider worldwide.
The company has already migrated its infrastructure to Chrysalis, which will benefit the IOTA protocol through significant improvements in terms of performance, stability, security and reliability.
What does Chrysalis offer?
Chrysalis sees upgrades for a large number of areas within the network offering as one of the most extensive upgrades to the IOTA protocol. The upgrade will enable IOTA to build smart contracts and offer tokenization in the future.
Essentially, the upgrade will allow IOTA to develop its applications such as automated market makers (AMM), DeFi (decentralized finance) platforms, oracles and smart contract-based startups.
IOTA continues to push for the creation of its own ecosystem that enables permissionless and scalable distributed ledger technology.
The network is keen to develop a simpler method of mass adoption of the protocol that includes an important function, including feeless transactions. Security and decentralization remain important to the project as it aims to create unprecedented scalability in the future.
IOTA was started in June 2017 and has since built and expanded its network. The project tries to solve important problems that other blockchain faces have. Such as transaction fees, scalability issues, and high energy consumption.
At the time of writing, the IOTA price was $ 1.99 with a total market cap of $ 5.5 billion.
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