Chrysalis Token Migration Begun
Chrysalis update comes with a cutting edge level of security, and magnitudes higher resilience vastly improved transaction speeds and throughput capacity. This the most important milestone in the IOTA Ecosystem.
Chrysalis also brings a complete overhaul of IOTA’s developer tooling, making IOTA easier than ever before to develop with.Anyone can develop use cases on IOTA without having to fear major breaking changes
Token migration:
April 21st, 2021, token holders can begin migrating their tokens to the new address and encryption scheme introduced by the Chrysalis network update on April 28th 2021. Tokens transferred to the new network using Firefly between the 21st and 28th of April will be credited to their owners under the new address scheme after the Chrysalis update.
Locked tokens will then become available right after the start of the Chrysalis network on April 28th.
The migration of tokens between the 21st and 28th of April 2021 is not mandatory.Token holders will be equally able to migrate tokens after the Chrysalis network update on April 28th, at least until Coordicide, for which the IOTA Foundation estimates being able to present a fully decentralized release candidate later this year
After the migration, Trinity Wallet will be discontinued and Firefly will be the official wallet of the Chrysalis update for token migration
Note that until the Chrysalis network update on April 28th, Firefly can only be used to migrate tokens and after Chrysalis update, Firefly will be the only wallet to be used for all IOTA Token transactions.
ABOUT IOTA
IOTA is an open-source distributed ledger and cryptocurrency designed for the Internet of things. It uses a directed acyclic graph to store transactions on its ledger, motivated by a potentially higher scalability over blockchain based distributed ledgers.
