A New Mobile and Desktop Wallet That Makes Hacking Harder and Auditing Easier

The IOTA Foundation, a non-profit organization supporting and developing an “un-blockchain” solution using The Tangle, a stream of interlinked and individual transactions distributed and stored across a decentralized network of participants, today announced that its digital wallet, which has been in beta and proven to support over $1.8 billion of IOTA tokens transacted, is now generally available.

The testing for the full release of their Trinity wallet included 160,000 downloads, and is now available for mobile and desktop platforms, including Mac, Windows, Linux, iOS and Android.

The Tangle is the data structure at the heart of IOTA and uses a directed acyclic graph (DAG) (directed and without cycles connecting the other edges) instead of a blockchain to store its ledger, addressing traditional blockchains’ inability to scale and operate without latency. When a new transaction is introduced, it is added as a new vertex in the DAG, rather than forcing all participants to agree on the longest chain and discard forks and side branches.

The IOTA Tangle allows different branches of the DAG to eventually merge, resulting in a much faster overall throughput.

The first transaction in the Tangle is referred to as the genesis. All the IOTA tokens were created in the genesis, and no new ones will ever be created. All transactions in the tangle approve the genesis directly or indirectly.

Once a transaction is approved by newer transactions, it becomes part of the consensus and is practically impossible to alter. The Tangle achieves this by requiring each transaction to perform a small proof-of-work computation, which makes it expensive to spam or fork the Tangle after consensus has been established.  Tangle is also more efficient than blockchain in that there are no miners, no miner fees, and therefore no incentives to slow the network down and less risk of conflicts of interest.

The new Trinity wallet simplifies IOTA token storage, with what the Foundation claims are best-in-class security measures and considerable customizability.

“Our industry-leading wallet, Trinity, delivers on IOTA’s goal to provide secure, accessible and community-driven token storage for the international cryptocurrency marketplace,” said Dominik Schiener, co-founder, IOTA Foundation. “We have partnered with our IOTA community to ensure we are addressing the cryptocurrency market’s needs with the utmost levels of excellence.”

The application has been thoroughly reviewed in an extensive auditing process by world-leading cybersecurity firms SixGen and Accessec.

“We are happy to bring our commitment to rigorous security testing and superior wallet security to the IOTA Foundation’s Trinity wallet,” said Ethan Dietrich, CEO, SixGen.  “It is clear the Trinity team takes security very seriously and has applied best practices throughout the wallet's development. SixGen’s in-depth review and testing ensures users can store and send tokens with confidence and peace of mind.”

“The explosive growth of decentralized Internet services is fueled by the adoption of IoT, Artificial Intelligence and edge computing applications,” said Michael Hathaway, founder of IronBridge Enterprise and the Koyoti Project. “Distributed Ledger Technology (DLT) presents compelling security solutions for this emerging Internet landscape, However, business adoption remains spotty due to concerns about scalability, transaction latency and ease of use. IOTA has addressed many these challenges with its Tangle network. The release of a flexible, easy to use wallet like Trinity, simplifies the process of managing tokens for distributed ledger transactions, removing yet more barriers to adoption. We’re thrilled to see the IOTA development community’s release of the Trinity wallet.”

IOTA Trinity Features

• Ease of use: Trinity is designed for new and advanced users alike, with an intuitive design                       and easy-to-use features.
• Hardware wallet compatibility: Trinity is compatible with the Ledger Nano S, X and Blue hardware wallets. When used in conjunction, Trinity and Ledger provide unparalleled security for storing and accessing your IOTA tokens.
• Community-sourced design: Trinity delivers bespoke features and innovative design thanks to input and contributions from IOTA’s expert user community.
• Secure SeedVault digital backup: Trinity uses the recognized security standards of Keepass for encrypted seed backup and features strong multi-level encryption.
• Global language support: Trinity has been translated into 25 languages for international          accessibility, including English, French, German, Chinese, Hindi, Italian, Indonesian, Japanese, Korean, Spanish and others.
• QR scanning and deep linking: Trinity offers secure and convenient features for prefilling               transaction information, streamlining peer-to-peer address exchange and IOTA-based E-commerce.
• Biometric authentication: An additional security and convenience layer, Biometric                      authentication provides peace of mind and control when authorizing transfers and unlocking the mobile wallet.
• Price graphing and fiat conversion rates: Trinity gives users the ability to track price and                    market changes and easily transact IOTA in fiat equivalents. 
• Theme customization: Trinity users can make the wallet their own with a selection of themes.                                                                                                                                          
• Node quorum: Trinity queries multiple sources to verify the integrity of network-related           information, delivering first-class networking security.
• Automatic node management: Trinity offers automated node management to ensure an           uninterrupted connection to the Tangle, IOTA’s alternative solution to blockchain.           

IOTA is a global not-for-profit foundation incorporated and headquartered in Germany. The IOTA Foundation's mission is to support the research and development of new distributed ledger technologies (DLT), including the IOTA Tangle. The Foundation encourages the education and adoption of distributed ledger technologies through the creation of ecosystems and the standardization of these new protocols.

The IOTA Tangle moves beyond blockchain by providing the world's first scalable, feeless and fully-decentralized distributed ledger technology. The Tangle uses its own unique technology to solve three fundamental problems with blockchain technology: high fees, scaling and centralization. It is an open-source protocol connecting the human economy with the machine economy by facilitating novel Machine-to-Machine (M2M) interactions, including secure data transfer, fee-less micropayments, and secure access control for devices.

Share this Page