IOTA: Hitting a Roadblock with the Trinity Wallet

The digital asset is yet to become more agile by offering an intuitive wallet.

The most awaited news for the IOTA project is the long-awaited release of the Trinity wallet. The IOTA project has seen great popularity, and the lack of a secure mobile wallet is somewhat curbing its image.

The IOTA alpha release of the Trinity wallet has been tested by a small pool of Android and iOS users. But the wallet still has to prove its security is top-notch:

“There had also been an increase in the number of non-technical users entering the IOTA community. This meant that the wallet had to be foolproof, from both a frontend perspective and in terms of backend security features,” explained the IOTA team in a recent blog.

Right now, the Trinity wallet release has in effect been rolled further into the future, as the code and logic are being refactored. Additionally, the IOTA project will have to negotiate with app stores for its wallet positioning. But security remains the highest priority, and the IOTA foundation will seek an independent audit before launching the wallet:

Luckily, the recently released fake Trinity wallet has been intercepted as a scam, blacklisting the address for now.

IOTA Market Price Lags

The IOTA market price has, paradoxically, fallen despite the relatively encouraging news. IOTA slid by more than 7% in the past day, to $1.32. The asset has been relatively stable in the past weeks, recovering to above $1.20, but at one point slid seriously below $0.90. As the markets remain prone to corrections, the price around $1.30 for MIOTA also seems shaky.

During previous trading sessions, MIOTA has been ahead of the market while other coins were falling. Toward the end of March, the MIOTA trading volumes remain relatively thin. More than 30% of MIOTA trading happens on Binance, but even on that exchange, the pairing with BTC is relatively inactive.

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