Genesis loaded ….
Coordinator deployed ….
Nodes online ….
Community ready to participate ….
Chrysalis ready for launch!
We are over the moon to announce that the Chrysalis network upgrade is officially live. We have entered a new dawn for IOTA, with a brand new protocol, wallet and suite of libraries now fully operational. With Chrysalis, IOTA is becoming production ready, and we have a clear path towards our full decentralization with Coordicide.
Tokens worth more than $1.4 billion were locked for migration prior to the network launch. These tokens are now available under their respective EdDSA addresses in the Chrysalis network, and users that have not yet migrated can now do so through our fluid migration process. Tokens held on exchanges like Binance, Bitfinex or Bitpanda, as well as many others preparing for the network update, have been migrated by the respective exchanges on behalf of their customers.
Users maintaining (or planning to maintain) a Chrysalis Hornet or Chrysalis Bee node can now upgrade their systems, using the respective latest releases (Chrysalis Hornet release, Chrysalis Bee release). The same applies to anyone intending to maintain a legacy IOTA node, for which we prepared a release as well.
On behalf of the entire IOTA Foundation, we want to congratulate our community and the team for their outstanding work, suggestions, improvements, the long days and nights and the many feedback rounds which resulted in the successful launch of the Chrysalis network today. Chrysalis is a prime example of how collaborative effort and community involvement can help elevate a project to new heights. The Chrysalis network upgrade would not have been possible without the help of the entire IOTA community. We are very grateful to be part of such a capable, enthusiastic and engaged ecosystem.
The time has finally come. With Chrysalis, IOTA is now enterprise-ready and has entered a new era of adoption, serving as a base layer for the machine economy, the Internet of Things and beyond, enabling new use cases and setting standards in data and value transfer. All of this is achieved without fees and while maintaining a minimal environmental footprint.
Partners, academia, and developers can now start to build on the Tangle and plan for the future. There will not be substantial changes on the way to IOTA 2.0, Coordicide, as the majority of the code-base including tools, libraries, and APIs already exists in Chrysalis. Projects built on today’s codebase will not require major refactoring later on.
With the work for Chrysalis complete, many of the Foundation's engineers are now able to fully focus on Coordicide, Digital Assets and Smart Contracts. The next major milestone to a fully decentralized IOTA 2.0 is around the corner, with the Nectar network launching in just a few weeks!
Nectar will be the first complete implementation of the major Coordicide modules, which will be followed by the launch of the incentivized testnet. The goal of this network is to discover any bugs and issues and make any refinements before a release candidate for the IOTA mainnet.
IOTA will become the first production-ready DLT network based on a fully decentralized leaderless consensus protocol that is scalable, feeless and secure. This is a tremendous pioneering achievement and milestone for the innovation of distributed ledger technology. All achieved without requiring any miners or wasting resources.
Creating technology that can shape the future for the better is one of the major reasons the IOTA Foundation exists. Today we celebrate the most important update in IOTA’s history before we continue our work on IOTA 2.0. Let’s enjoy the moment and then continue working together to build the future of DLT.
Now the countdown begins to our next big step: Nectar.
For IOTA AS, the required Hornet node configuration can be found here. The IOTA AS network ID is “as-network”. Peers can be found in the #fullnodes channel on the IOTA Discord. Please note that we included the network ID in the placeholder transaction ID used in genesis outputs to avoid being susceptible to replay attacks.