The IOTA network is preparing to launch the first phase of Chrysalis, also known as IOTA 1.5, on its mainnet sometime next week.
According to a tweet published by the IOTA Foundation, the upgrade will allow the network to process 1,000 transactions per second, and will institute 10-second confirmation times.
In June, the foundation also released the latest version of its node software, Hornet. This paved the way for IOTA 1.5 following a community-driven stress test, which resulted in a stable network with more than 150 nodes. Testing showed that the upgraded network consumed 10 times less memory than IOTA’s previous node software.
In May, a decentralized social media team called Society2 began work on an IOTA-based DeSM framework. This project aimed to enable a new standard in privacy, control, and interoperability between social media platforms.
In the midst of the COVID-19 pandemic, another team based in Madrid released an Iota-based platform to help combat the coronavirus.