IOTA (MIOTA)’s team behind the creation of Trinity has announced the launch of Spark wallet, a new low-security, temporary web wallet, or “burner wallet” said to be an original concept of Ethereum developer and ConsenSys research director Austin Griffith.
First used in February 2019, Crypto Burner Wallet, helped Splunk, a CharityData analytics giant, raise $40,000 for charity among 10,000 attendees during its annual conference, held in Las Vegas. At the conference, the highest single donation was $10,446, and was awarded to the human-trafficking awareness group Global Emancipation Network.
Now, the Griffith idea is being used to design IOTA’s Spark. The idea is that holders of the IOTA token can make use of the wallet for small amounts of funds within a short time and then “burn” it. The wallet makes it possible for users to wipe the seed and transaction history.
As IOTA keeps experimenting with new ideas, IOTA Labs is experimenting with converting some of them into something beneficial. So, anytime IOTA creates any experimental app, it is released under the IOTA Labs.
Spark is the maiden app to be unveiled under the IOTA Labs, which serves as a place for testing innovations and tools.
The results, according to IOTA, will feed into decisions around Trinity V2’s tech stack and functionality.