On April 28, 2021, the IOTA protocol successfully activated the Chrysalis update. Now enthusiasts are experimenting with end user functions in the new IOTA.
Post-Chrysalis IOTA meets “identities”
Filancore GmbH, an initiative that addresses decentralized identity management tools, reported an interesting milestone.
The team behind the initiative shared the transaction ID in the IOTA protocol. This message does not contain value transfer, it just confirms authentication. Data on identity was released on blockchain today on April 30th. With this tweet, decentralized authentication at the Chrysalis stage was made public for the first time.
Cryptocoin. com, IOTA completed its transition to Chrysalis between April 21 and April 28. This process would lead to a major change in account management policy, wallet and token migration.
Decentralized identity management remains the focal point for the blockchain network
Dominik Schiener, founder of IOTA, emphasized that all transactions, including those related to decentralized authentication, are subject to zero fees:
Amazing! I’m looking forward to using my IOTA powered ID with free transactions on my Firefly wallet.
Moving identity management to the blockchain is among the main focal points of the team. It was first mentioned in the “Developer Update” held in 2019.
On March 29, 2021, Jelle Millenaar, identity leader of the IOTA Foundation, announced that IOTA’s identity solution is more advanced than Microsoft. The tech giant decided to use Bitcoin-like networks, the Sidetree protocol, and the Inter-Planetary File System (IPFS) for decentralized identity storage.
Also, as we have previously reported, according to the official statement made by the team, IOTA continues to work closely with Crypto Finance AG, a regulated digital asset service serial vendor. Crypto Finance AG fully supported the transition of the protocol to Chrysalis.