A new wallet is an “entry point” for enthusiasts of the upcoming Chrysalis phase of IOTA progress. What’s special about it?
Contents
- Where usability meets security: the launch of Firefly
- Encryption, backup, portability: what’s new in Firefly
IOTA Foundation, the non-profit organization behind the development of IOTA DLT blockchain focused on IoT use cases, is proud to present its latest update, Firefly Wallet.
Where usability meets safety: launch of Firefly
In their official announcement, representatives of the IOTA Foundation explained that end-user wallets are the most important point of the entire crypto ecosystem, as they will have to combine all features in 2021: crypto storage, exchange, trading, NFT hosting, etc. is designed to address these ambitious goals.
First, Firefly is promoted as an intuitive application with a polished interface. As previously covered by U. today, IOTA co-founder David Sonstebo has stated that Firefly will set new standards for UX / UI design.
Every element of IOTA’s Firefly is designed to erase the problems users face when dealing with cryptocurrencies today. The architecture is described as ‘modular’ and therefore easy to understand.
Dominik Schiener, co-founder and chairman of IOTA Foundation, outlines that Firefly will outgrow the current “crypto wallet”:
This version is the beginning of IOTA as an app ecosystem that is widely used. Firefly will usher in a new standard of usability and flexibility in the wallet space, where previously there was a fairly limited number of offerings that deal with a literal understanding of the term wallet.
Encryption, backup, portability: what’s new in Firefly
At the heart of IOTA’s Firefly are two rust-written libraries: one for app development and another, called Stronghold, is responsible for security. The new wallet is protected by encrypted backup and secure memory enclaves (sensitive operations to place in isolated memory slots).
Firefly’s transactions are authorized much faster than those of its predecessor, Trinity. Firefox users can easily manage multiple accounts and restore their wallets on many devices with a patented Stronghold backup.
The development team is planning numerous additions to the system that will be introduced soon, including chat and contact management modules, NFT storage and seamless wallet integration.