IOTA Foundation will activate its most crucial upgrade of the last few years, Chrysalis, on April 28, 2021. The token's migration toward brand new wallet environment Firefly will start next Wednesday.
Pre-Chrysalis migration starts on April 21, 2021
First and foremost, IOTA Foundation assures users that they can move their tokens either during the migration period or after April 28; there is no rush. Meanwhile, those holders of IOTA who store tokens on Ledger Nano hardware wallets should wait a couple of weeks: binaries and instructions for their migration will be issued soon.
Also, the accounts with small IOTA holdings, less than one IOTA or $2.30 in actual prices, will not be able to move their funds to Chrysalis, so their owners should accumulate coins prior to the crucial event.
Two main scenarios for migration include the importation of the wallet through text backup and through a backup file (small .kdbx-file). To move funds via text backup, 81 characters of a seed phrase should be entered in a special field in Trinity. If a recovery file is used, it should be uploaded.
Once the account is imported, the IOTA holder needs to check the settings and customize the security settings of his/her new Firefly wallet.
Common scenarios for painless migration
IOTA representatives stressed that the whole process of migration is automated, so tokenholders should just follow the instructions and enjoy the ride:
The heavy lifting is fully automated through the Firefly wallet and token holders are guided by a simple interface.
Once the wallet goes live in Firefly, users should check the balance of tokens and create a new password and PIN to access them. Then, he/she creates a new recovery phrase and Stronghold seed, the key to IOTA's native one-stop data security solution.
The remaining steps are automated: with a password and the seed and backup file created, the user just needs to initiate migration.
As covered by U.Today previously, IOTA Foundation highly evaluates the prospects of Chrysalis in terms of transaction security, speed and dApps performance.