The IOTA developers have unveiled a beta version of the Firefly desktop wallet, which will replace Trinity. The usability and security of the wallet has been enhanced by the modular architecture.
In an official statement, the IOTA Foundation emphasized that end-user wallets remain a key element of the entire cryptocurrency ecosystem. Wallets should combine all the most important functions: cryptocurrency storage, exchange, trade, NFT hosting, etc. The new Firefly wallet is designed to meet these ambitious goals.
Firefly is positioned as an intuitive application with a well-designed interface. Earlier, IOTA co-founder David Sonstebo stated that the wallet will set new standards in terms of UX / UI design. Firefly was designed to eliminate the hassle that users face when interacting with cryptocurrency wallets. The architecture is described as “modular” and therefore easy to understand.
“This release marks the development of IOTA as a widely used application ecosystem. Firefly will usher in a new standard of usability and flexibility in the wallet space, where previously there was a fairly limited set of offerings based on a literal understanding of the term wallet, ”said Dominik Schiener, co-founder and chairman of the IOTA Foundation.
Firefly is based on two Rust libraries: one for application development, and Stronghold, which is responsible for security. The new wallet is protected by encrypted backups and protected memory enclaves. Firefly transactions are authorized much faster than Trinity transactions. Users can easily manage multiple addresses and restore their wallets across multiple devices with Stronghold’s patented backup.
The development team is reporting numerous additions to the system coming soon, including chat and contact management modules, NFT storage, and seamless wallet integration.
Earlier this month, IOTA developers launched the stable version of the IOTA Smart Contracts Protocol (ISCP) smart contract platform. The new platform will allow developers to compile and test smart contracts. Last month, the IOTA Foundation planned to roll out the Chrysalis update to the IOTA mainnet in March, as well as add tokenization capabilities in the first half of 2021.
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