IOTA Announces Launch of Chronicle to Store Transactions

July 15, 2020      Vandana Malik

IOTA Foundation, a non-profit foundation that is very well known for next-generation protocols, has announced the launch of Chronicle. Chronicle is a permanode which will be allowing all the node operators to store the transactions. This project was introduced back in the previous year only and now it is coming up with more features.

IOTA DLT is different from other blockchains

The Distributed Ledger Technology (DLT) of IOTA is quite different from other blockchains. The node operators use snapshots of the network and along with this, they delete all the old transactions. The main function of the Chronicle is to allow the node operators to run permanodes. These permanodes store the complete history of transactions in a very easy database. It is very essential to store the permanent transaction to get the details of all the informative transactions.

It has been noticed that with this latest release of Chronicle, IOTA has changed the programming language of the application. It has not been changed from Erlang to Rust and this will be providing great security also. Along with the security, the users will also have great flexibility.

Node operators can choose the duration of transactions 

As this new release of Chronicle by IOTA is going to provide great flexibility to the users. With this, the users or node operators will be able to choose how long they can keep any particular transaction. They can also choose the storage solution that they will be using and along with this, they can also determine the type of data that needs to be stored. Over time, it has been seen that different blockchains have been promising to provide permanent transactions and their information. However, very few of them were able to do so. Now this technology by IOTA is quite different from the design of other blockchains. Hence, it has been believed that the Chronicle is going to perform really well.

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Vandana Malik
Vandana Malik

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.