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IOTA is set to complete its newest project, Chrysalis Network, in two days thanks to its collaboration with the Crypto Finance Group and its Crypto Storage subsidiary. With the completion of the network\u2019s upgrade, IOTA bids goodbye to its exotic design decisions it has been using from its early days and makes its new protocol enterprise-ready. In a statement seen on IOTA\u2019s blog, IOTA owes its most extensive upgrade to Crypto Finance Group and many industry partners.<\/strong><\/p>\n As noted from IOTA\u2019s blog, their aim is not to provide a digital payment solution but also to support industry infrastructures. The project aims to push beyond conventional cryptocurrencies and achieve milestones in<\/span> digital ledger technology<\/span>. Its technology is already being used to provide industry solutions in global trade activities, innovative energy sectors, automotive and mobility, digital identity, supply chain, eHealth, asset management, and decentralized finance.<\/span><\/p>\n IOTA prides itself on an <\/span>extensive ecosystem<\/span> of industry partners and has always leveraged its position to develop a supportive technology for their business use cases and the IoT. Its partnership with Crypto Finance was born in 2019 to help achieve these goals, and the collaboration gained traction following discussions on IOTA protocol improvements.<\/span><\/p>\n As a custodial solution provider, the Crypto Finance Group had been actively involved with IOTA Foundation and even presented its interest in the IOTA network. Its needs were to provide IOTA with storage and custodial solutions, and eventually became IOTA\u2019s first professional storage provider for the IOTA Token worldwide. It served the needs of both financial middlemen and partners across different industries.\u00a0<\/span><\/p>\n The collaboration supports all classes of investors and users in the secure management and access to IOTA Tokens. Leading enterprises using the token are also able to fulfill their institutional and compliance standards.<\/span><\/p>\n Crypto Finance has notably been actively involved in secure storage solutions to all its partners, constantly providing inputs and proposals. It was among the industry players that vouched to replace the Winternitz one-time signature scheme to allow the reusing of private keys and easy handling of clients\u2019 funds. The replacement created significant improvements in conflict handling due to the shift from an account model to a UTXO version.<\/span><\/p>\n<\/span>Leveraging Partnerships for Enterprise Readiness<\/b><\/span><\/h2>\n
<\/span>IOTA\u2019s Storage and Custodial Solution<\/b><\/span><\/h2>\n
<\/span>Crypto Finance Group Elevates IOTA Tokens Demand<\/b><\/span><\/h2>\n