IOTA get ready for a new phase: Chrysalis ( IOTA 1.5 )

IOTA get ready for a new phase: Chrysalis ( IOTA 1.5 )

By Cryptonite | Cryptonite | 15 May 2020


 

 

Iota mainnet is operational since 2016 and it reached a lot of feedback from enterprise, institutions and users, this experience is making treasure for the next level of this exiting project… the phase 1.5 is called Chrysalis and will focus on the technology and usage application that will came next couple of years.

Chrysalis (IOTA 1.5) is going to  make some upgrade on the protocol to make smoothly the transition to the phase 2.0 that have a codename Coordicide, the intermediate phase itself is divided in a first part may be ready for July than the definitive Chrysalis phase would be ready in October.

Let’s see what will change in few month, we may see a better scalability and reliability of the Iota mainnet as there will be several hundred trade per second (TPS), startup and enterprises will be able to have a smoothly experience on launch product powered by Iota, also developers will find a more friendly ecosystem removing some actual friction that it seems they experience today.

Iota will update the node software, the wallet software, libraries and the entire infrastructure, we may experience transaction in less than 10 seconds.

Another news will be the introduction of reusable address that would be important for token holders…. This will improve the usability and make integration on wallets and payment systems much more  simple.

In conclusion it seems that Iota is making stuff to be ready to penetrate more the enterprise system and to be more user friendly…. As a IoT token they make sure to be ready for the technology of the future as well, we’ll see how those implementation will work in just a few month.

As a hodler of this crypto I am very exited to see how the market will react to the new phase and of course I will check Iota price and make some new analysis as soon as it change something from my last post (click here to see my last analysis on IOTA).

 

 

SUPPORT & RESISTANCE 

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IOTA  right now is in a very important price level as around 0,20 Dollar is notoriously a big battlefield between bulls and bears, if bears will be able to push the price down we find some support at 0,171 and at a lower price also at 0,124 Dollar, we would never see a lower level but we may be prepared for a predominance of bears with a selling pressure that can touch the last support at 0,108 Dollar.

In the happy case that bulls will be able to push the price up and that the trend will keep going up let’s see where we may find some resistance, at 0,235/ 0,237 is placed the first resistance, this price may open a spike to higher levels that are 0,26 Dollar and 0,291/0,30 Dollar.

The 0,3 Dollar is close to the maximum of medium term and cam be see as an important target for the next months, the actual trendline is solid so far and would drive us till those target, anyway we may be careful of a possible breakout… this would force us to check the support we find on the last paragraph.

 

Thank you for reading and hope you enjoy this post.

 

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