IOTA (MIOTA) Launches Experimental Crypto Wallet Dubbed Spark

IOTA (MIOTA) Launches Experimental Crypto Wallet Dubbed 'Spark'

The IOTA (MIOTA) team has launched the Spark wallet via IOTA Labs. Spark is a low-security, temporary web wallet designed to hold only small amounts of funds for a very short period. In addition, the IOTA team has also released the projects 2020 roadmap, according to a

IOTA Unveils Experimental Wallet

The IOTA Foundation has created IOTA Labs, a new project designed to funnel IOTAs experiments into a tangible product, and Spark wallet is the first solution to be born from IOTA Labs.

The team says the Spark wallet is designed to help IOTA users to hold small amounts of funds for short periods, after which the user burns it.

IOTA Labs is a new project within the IOTA Foundation to funnel our experimentation into something tangible. Whenever we create an experimental app, we will release it under IOTA Labs. Sparks is the first app to be released under IOTA Labs and has served as a testing ground for some new ideas and tools.

The team has hinted that Spark wallet was developed using Svelte, a highly functional Javascript framework which shares none of the limitations of other Javascript frameworks.

Notably, the team says Spark uses the IOTA JavaScript account module, an account module that tackles the challenges associated with one-time use addresses in IOTA using a payment request system.

IOTA explains:

By specifying an expected amount and timeout on the payment request, we can ensure funds do not arrive on a spent address. When you combine payment requests with a chat system, as would be possible in Trinity V2, you have a frictionless peer-to-peer transaction system.

IOTA 2020 Roadmap

IOTA says it has made significant progress this year, including the creation of Trinity, IRI, individual client libraries, Qubic, and more.

For 2020, the IOTA team has made it clear that it plans to carry out a slew of improvements on its mainnet to boost the networks scalability before Coordicide goes live.

Whats more, IOTA says it plans to implement additional signature schemes in addition to its current Winternitz one-time signature scheme (W-OTS). The team says the new signature schemes will bring significant benefits to the platform, including increased network throughput, reusable addresses and more.

Whats more, IOTA also plans to enhance its autopeering module, tip selection, milestone selection and more. Its worth noting that IOTA is fast gaining adoption across the globe.

Earlier in December 2019, BTCManager informed that Biota, a German waste management association has tapped IOTA for its plastic waste recycling initiative.

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Tags: Northwestern University, Spark New Zealand, Wallet, Infrared Optical Telescope Array, Experiment, Team, JavaScript, Project, SPARK, IOTA Foundation