IOTA plans introduction of new wallet „Firefly

IOTA plans introduction of new wallet „Firefly

IOTA announced during the week that it was introducing a new wallet. It is called „Firefly“ and will replace the previous Wallet Trinity.

On November 24th IOTA expressed its opinion about the new wallet via Twitter. The platform is preparing for a complete decentralisation. The release of the wallet is planned by the Bitcoin Victory company in 2020. Dominik Schiener, co-founder of the company, commented on this topic as follows:

In the coming weeks everyone will be able to participate in this new IOTA future and try out our new Firefly wallet and testnet. This will be an exciting new chapter for IOTA and the entire ecosystem.

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IOTA’s introduction of a new wallet was probably due to the fact that the previous wallet, called Trinity, had been hacked in February. This resulted in a loss of US$ 1.6 million. However, IOTA later refunded the money to the customers.

The focus of the Firefly wallet is now primarily on security:

Firefly is our new wallet. We are aiming for a first alpha version this year. After everything we have learned from Trinity we have redesigned it from scratch.

In addition, the company has also decided to integrate a chat and contacts into the new wallet. In this way, IOTA wants Firefly to become the „benchmark for user-friendly crypto applications“. However, whether this plan can be put into practice will only be seen after Firefly has been introduced.