The first phase of IOTA’s Chrysalis upgrade has gone live on the mainnet, as revealed in a blog post published on August 19. Chrysalis was unveiled last week on August 11 and is an incremental upgrade scheme on the way to IOTA 1.5. 

• Phase 1 brings improvements in reliability, performance, and usability
• Specifically, throughput has improved to support 1000 transactions per second, reaching 1500 on the community testnet
• Confirmation times are also 8 times faster, processing fund transactions in seconds, as opposed to minutes
• Phase 2 will bring a switch to a UTXO model and atomic transactions, among other things
• The full transition to IOTA 1.5 is expected to be complete by the end of the year