IOTA will enter a new era thanks to Chrysalis – Explica .co

This week the Chrysalis update officially began, with which IOTA will usher in a new era in a completely new network. We’ll tell you!

Chrysalis: The beginning of a new era for IOTA

For those unfamiliar with IOTA, it’s a scalable, free, openly distributed ledger that supports smooth data and value transfers. Let’s remember that IOTA is primarily geared towards the “Internet of Everything”.

In this sense, transactions between devices in the Internet of Things ecosystem are recorded and executed in the IOTA blockchain.

On April 21, the token migration began with Chrysalis. “The Chrysalis update marks the most comprehensive change in IOTA history. Touching all aspects of the IOTA protocol, the libraries, tools, documentation and software, ”explained the press release.

Therefore, this update is the solution presented by IOTA for better performance, more stability and more security in the operating system.

The token migration begins

In this way, token holders must migrate to the new network for the update. According to the statement, crypto users have two migration routes: before Chrysalis officially launches during the designated migration period, or at any time after that.

With that in mind, as of April 21st, users can begin token migration to prepare for Chrysalis. Let’s remember that the launch of the new IOTA will be in 3 days.

Interestingly, Dominik Schiener, co-founder of IOTA, reported just 12 hours after the announcement that IOTA tokens worth $ 220 million were blocked and ready to be migrated to the new network.

“Let’s hit $ 1 billion banned tokens before we launch next week on the 28th!” Closes Schiener’s tweet.

While there is essentially no practical difference between pre-launch and post-launch migration, the first option helps avoid accessibility or network outages.

However, the price of MIOTA, the IOTA token, didn’t have a very positive week. Although crypto has increased nearly 4% in the last 24 hours, it has decreased by almost 12% in the last 7 days.

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