The IOTA network is preparing to launch the primary phase of Chrysalis, also referred to as IOTA 1.5, on its mainnet sometime within the upcoming next week.
In line with a recent official tweet published by the Foundation, the upgrade will permit the network to process 1,000 transactions per second, and can institute 10-second confirmation times.
Earlier in June, the company also revealed the newest version of its node software, Hornet. This paved the way for IOTA 1.5 following a community-driven assay, which resulted in a stable network with over 150 nodes. Testing also revealed that the upgraded network consumed 10x times less memory than IOTA’s previous node software.
Also in May, a decentralized social media team called Society2 began work on an IOTA-based DeSM framework. This project aimed to introduce new standard in privacy, control, and interoperability between social media platforms.
In the midst of the coronavirus outbreak, another team based in Madrid released an [IOTA-based platform] to assist combating the COVID-19.