IOTA plans to introduce new wallet “Firefly”

IOTA announced during the week that it would introduce a new wallet. This is called “Firefly” and is intended to replace the previous wallet Trinity.

On November 24th, IOTA commented on the new walltet via Twitter . The platform is preparing for complete decentralization . The company plans to release the wallet 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 our testnet. This will be an exciting new chapter for IOTA and the entire ecosystem.

The decisive factor for the introduction of a new wallet by IOTA was probably that the previous wallet called Trinity was hacked in February. This caused a loss of 1.6 million US dollars. However, IOTA later returned 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’ve learned from Trinity, we’ve redesigned it from the ground up.

In addition, the company has planned to integrate a chat and contacts into the new wallet. In this way, IOTA wants to achieve that Firefly becomes the “benchmark for user-friendly crypto applications”. Whether this plan can actually be implemented will only be seen after Firefly has been introduced.