What is Chrysalis?

Chrysalis, also known as IOTA 1.5, is the latest upgrade from the IOTA project, aimed at bridging the gap between its present state and the future vision of a Coordinator-free network. Imagine a caterpillar doing yoga: it’s not ready to fly, but it knows it’s in the transformational stage. Similarly, Chrysalis prepares the IOTA platform for the ambitious Coordicide, which is like calling to retire the guardian angel known as the Coordinator.

Chrysalis Features: Big Changes Ahead

The upgrade comes packed with an exciting list of features that may cause traditionalists to raise an eyebrow. One major addition is the new cryptographic signature scheme, Ed25519, which will coexist with the existing WOTS scheme. Although Ed25519 sacrifices some quantum resistance, it offers practicality by allowing users to reuse the same address. Think of it as grabbing a reusable coffee cup rather than always getting a new one at your local café.

Transactions Made Simple

With shifting to the Ed25519 scheme, transaction sizes are expected to shrink, leading to an increase in Transactions Per Second (TPS). Schiener highlighted that these improvements were frequently urged by both the community and corporate partners, echoing the desires of a crowd asking for more efficiency at their local coffee shop.

The Shift to Tokens

Chrysalis aims to transform IOTA into a robust platform for token issuance. This isn’t just a whim; it requires two pivotal changes: the introduction of atomic transactions and a transition to the UTXO model. What does that mean? In layman’s terms, more secure and efficient ledger management that could pave the way for