Project IOTA prepares for a new update on April 21…Here’s what you need to know
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Answer Project IOTA prepares for a new update on April 21…Here’s what you need to know
The German-based IOTA has published a detailed post covering the upcoming Chrysalis update along with an explanation and briefing on the security and technical aspects associated with the update.
IOTA Update starting April 21, 2021:
The IOTA Foundation mentioned in its latest announcement, which was shared on her official blogThe update to Chrysalis will begin on April 21.
The final stage of #chrysalis Network migration begins on April 21, with #firefly Ensure a smooth token migration process. If you have questions though, be safe when asking for help. Who is ready to # Daybreak? https://t.co/L388hmNgSp#corn pic.twitter.com/2oWtkZY0iX
Read:The story of a couple who lost access to $5.8 million worth of Ethereum
– iota April 8, 2021
During the first update phase, coin holders, trading platforms and custodians will be able to set up their own infrastructure.
The upgrade itself will take effect on April 28, 2021.
Users are not required to do anything.
Despite the announcement of the new digital wallet “Firefly”, the management of the “IOTA” project did not recommend transferring digital currencies from the “Trinity” digital wallet to it.
Meaning no action is required by IOTA holders and holders who store their cryptocurrencies in IOTA-supported digital wallets or trading platforms, as these exchanges will perform the transfer on their behalf.
We mentioned in Arab Bitcoin On March 22, the IOTA Foundation launched a new digital wallet “Firefly” as a starting point for the Chrysalis update.
The new wallet has an advanced user interface and an updated and improved security toolkit.
Here’s what you need to know:
Besides announcing the Chrysalis update schedule, the IOTA Foundation has notified IOTA holders of an increase in impersonation scams, especially at this time.
Read:The total market capitalization of the cryptocurrency market reaches a new record, and Bitcoin reaches 34 thousand dollars
Scammers pretending to be members of customer support ask IOTA holders for passwords, initial phrases and other sensitive data.
The scammers claim that this information is needed to help properly set up and store IOTA cryptocurrencies.
The IOTA Foundation has confirmed that its employees will never ask for initial statements or personal information, let alone send some IOTA cryptocurrencies.
Instead, the IOTA-backed trading platform or digital wallet will perform the actions without any intervention on the part of the users.
Read also:
IOTA founder attacks Bitcoin and Ethereum, describing them as central networks
The IOTA project is testing smart contracts for the first time
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