The IOTA network is preparing to launch the first phase of Chrysalis, also known as IOTA 1.5, on the main network sometime during the next week.

According to a tweet from IOTA, the update will allow the network to process 1,000 transactions per second and set a confirmation time of 10 seconds.

The foundation also released the latest version of the Hornet Node program in June. This paved the way for IOTA 1.5 after community testing, which resulted in a stable network of over 150 nodes. Testing showed that the upgraded network uses 10 times less memory than previous IOTA node software.

In May, a decentralized social media team called Society2 began work on the IOTA-based DeSM framework. This project aims to create a new standard for privacy, control and interoperability between social media platforms.

In the midst of the COVID-19 pandemic, another team from Madrid has launched an Iota-based platform to fight coronavirus.