In a move to keep faithful believers of the IOTA (MIOTA) project updated on the day to day happenings, the team at IOTA have released an update of the progress of the much anticipated Trinity Wallet. Such an announcement comes at a much awaited time when the value of the coin in the markets has been battling to stay above the $1 mark. Currently IOTA (MIOTA) is trading at $1.29. The lowest price of the coin this year was $1.04 on the 16th of March this year. This is exactly one week ago.
At its prime, IOTA was trading between the relative stable values of $3 and $5 during a brief period in late December and early January. Its peak was seen on December 29th, 2017 when it was trading at $5.39. The current price of $1.29 is a 76% drop from the peak value. It is no wonder the team at IOTA is constantly updating the believers of the project with news of the Trinity Wallet and new team members joining the project.
The long awaited Trinity Wallet has been in development since last year and has been run as a loosely controlled community project in tune with the motto of decentralization popularized by the creator of Bitcoin, Satoshi Nakamoto. Perhaps this is why it has taking too long to be released for consensus is hard to reach with a large group of developers rather than when with a handful of participants. With a large community based project, progress is bound to meet hurdles such a standardization of coding and communicating with the entire development team.
However, the Trinity Project has undergone an alpha test involving a bit over 250 users on both iOS and Android platforms. Such a test release allows the team to get feedback from the users and be able to audit the wallet for bugs and vulnerabilities. When it comes to wallets, security and safety is of utmost importance. Therefore, waiting a few more days or weeks will not be a bad thing considering the repercussions of releasing an untested product.
The audit, according to the team, will last another 6 – 7 weeks so as to guarantee a good secure wallet as earlier mentioned. The process is being led by accessec, a consultancy firm that supports the planning, design and implementation of digital projects such as the Trinity Wallet.
To add to the update of the progress of the Trinity project, IOTA has recently added Madjid Nakhjiri and Alexy Sobolev to the IOTA foundation team.
Madjid Nakhjiri comes into the team as an expert adviser on Private Key Infrastructure. He will have a crucial role on the IDentity of Things (IDoT) efforts in the IOTA Project. The Identity of Things (IDoT) is an area of endeavor that involves assigning unique identifiers (UID) with associated metadata to devices and objects (things), enabling them to connect and communicate effectively with other entities over the Internet. This is more or less what the Tangle is all about. Madjid has experience working for Samsung and MediaTek IOT business unit.
Alexy Sobolev has already been working with the IOTA team in the development of use cases and Proof Of Concepts with different companies to demonstrate the potential of IOTA. This recent announcement makes him an official member of the IOTA foundation. Alexy is a seasoned software engineer with over 9 years experience in development of complex IT systems with a particular focus on front end development.
All in all, there is a glimmer of hope in the IOTA project with the news on the development of the Trinity Wallet and the addition of Madjid and Alexy to the IOTA foundation team. The IOTA project is doing a good job by constantly updating its believers who have great hopes for the equally great project.
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