IOTA: Hornet ready for Chrysalis, PoC for smart contracts in September

  • The IOTA Foundation has completed the final work for the release of Chrysalis phase 1 next week.
  • The work in the area of the IOTA Smart Contracts is progressing with the publication of a first proof of concept planned for September.

In a new development update, Jakub Cech, Director of Engineering at the IOTA Foundation, informed about the current progress in all areas. As Cech initially explained, Chrysalis (IOTA 1.5) phase 1 will appear on mainnet on August 19, 2020. The components of Chrysalis phase 1 have been implemented in the Hornet node and were made available for the Comnet network.

As CNF reported that a spam test on the Comnet testnet reached peaks of around 1,500 transactions per second (TPS) and over 1,000 confirmed transactions per second (CTPS). Regarding the upgrade to Chrysalis, Cech reminded all node operators to perform an update. In particular, old IRI nodes need to migrate to Hornet, for which the IOTA Foundation has provided a migration tool to keep the history.

As Cech further announced, the coordinator’s address will change. The first time the node is restarted after upgrading to Chrysalis phase 1, the Coordinator’s address will need to be changed. Work on Chrysalis phase 2 is also in full swing, “from wallet software to specifications and implementations,” Cech said.

The other Node team, Bee, is currently working on the integration of Chrysalis phase 1, with first parts already reviewed by an external party, however, with a publication on mainnet postponed from August to September 2020. A first alpha version of the Bee node for Chrysalis should be released in the coming weeks, while the functionality for Chrysalis phase 2 is being developed in parallel.

IOTA Pollen, Smart Contracts and the new wallet

IOTA 2.0 is also in full swing, as Cech explains. Cech referred to the new GoShimmer version for Pollen (v0.2.3) which was released this week. Furthermore, the IOTA Foundation is already working on Nectar. The individual components for this will be iteratively published on the testnet in the coming months, starting with the distributed random number generator (dRNG).

In the area of IOTA Smart Contracts, the responsible development team has made “progress towards the first PoC” (proof of concept), so that the release of a first PoC has been announced for September. Cech commented on the individual advances:

The team has been progressing towards the first PoC of our new smart contracts integration. Lately with focus on switching to the GoShimmer core APIs and with adding new smart contracts for the initial implementation. The VM part of the team has been working on finishing up the Wasm VM that will be integrated with the Wasp node.

With regard to Stronghold and the new IOTA wallet, Cech noted that the IOTA Foundation hopes to open the wallet library to the community very soon. The final details of the architecture of the new wallet have been clarified and individual components have already been implemented:

Individual components (e.g. Stronghold, Wallet, UI) exist as ‘actors’ within the wallet, communicating with one another via messages. Applying such a structure gives greater assurances of security, isolating each component to ensure they don’t share memory.

With the wallet supervisor and UI actors implemented, we are now in a position to start building out the wallet front end. Other work has involved speccing out the chat and contact system (using the Matrix protocol), as well as updating Trinity to accommodate for Chrysalis part 1 next week.

About Author

Jake Simmons has been a crypto enthusiast since 2016, and since hearing about Bitcoin and blockchain technology, he's been involved with the subject every day. Beyond cryptocurrencies, Jake studied computer science and worked for 2 years for a startup in the blockchain sector. At CNF he is responsible for technical issues. His goal is to make the world aware of cryptocurrencies in a simple and understandable way.

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