The sideways pattern of the crypto market seems to be continuing for a couple of days now, with Bitcoin stuck at around $7500 and unwilling to either break out or drop further down. One of the beneficiaries of this movement has been IOTA, which managed to record some solid gains during the last few days. IOTA’s price rose from 20651 sats to 23203 sats where it was traded last night, and seeing a coin rise in such a manner is a welcome sight after the previous bearish period.
The rise should not be attributed solely to the relative recovery of the market, as IOTA recently did come out with a major project update. The fans and holders of the token rejoiced on May 29th at the news that IOTA is finally releasing the beta version of its Trinity Mobile wallet app.
After a fervent couple of months of development and work, the long awaited application is finally ready for public consumption. The project was initially born as a community project and has since been adopted and advanced forward by the IOTA Foundation. In a blog post describing the launch, IOTA team describes Trinity as a “user friendly, born of the community, earnestly championed by the community” wallet. The wallet has apparently gone through two external reviews, namely a threat modeling exercise and a security audit. Both have uncovered threats and bugs that were fixed and patched to ensure that any and all issues with the wallet are fixed before its commercial use begins.
Main features that Trinity will offer to its users are:
- Paramount Security – Safe seed storage with strong encryption and two-factor authentication helps to protect your funds.
- Easy Management – Access multiple accounts with a single password. Your transactions and balances are updated automatically. A simple set of steps is also put in place to ensure that the wallet is user friendly, customizable and easy to set up.
- Fast and Secure Transactions – Quick transfers and automatic promotion make transactions smoother than ever. Users can use QR code support (the wallet has a paper variant) in addition to features that prevent reuse of addresses which is common amongst scammers.
- Market Watch – Trinity keeps you up-to-date with the current value of IOTA across a range of currencies.
The community seems to love the wallet already, with a Redditor named YourDailyCoin posting the following:
The wallet is an excellent move for IOTA and has clearly caused a lot of good for the project already, as IOTA is trading at $1.74. With moves being made to bolster the project’s security (appointment of Mathew Yarger) and a recently secured partnership with the United Nations Office for Project Services (UNOPS), Trinity will help IOTA grow even further. The wallet is currently available for Android and iOS devices, with a desktop version in the workings.
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