Main navigation

IOTA's Migration to Firefly Starts on April 21, Comprehensive Guide Released

News
Fri, 04/16/2021 - 13:21
article image
Vladislav Sopov
IOTA Foundation is getting closer to the start of migration from Trinity wallet to brand-new Firefly. Here's what IOTA holders should know
IOTA's Migration to Firefly Starts on April 21, Comprehensive Guide Released
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Contents

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.

IOTA Foundation explains the details of migration to Firefly
Image via Twitter

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.

Related
IOTA's Chrysalis Will Allow "Significantly More" Devices to Use It, Co-Founder Dominik Schiener Says

As covered by U.Today previously, IOTA Foundation highly evaluates the prospects of Chrysalis in terms of transaction security, speed and dApps performance.

article image
About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)