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I've reviewed the IOTA paper and some docs on it. It seems too good to be true, if it works it's much better (faster, free) than block chain cryptocurrencies wi
by albertgoeswoof 9y ago
I've reviewed the IOTA paper and some docs on it. It seems too good to be true, if it works it's much better (faster, free) than block chain cryptocurrencies with no downsides. I am surprised that no one else has come up with this approach so far, why is that?
The only downside it's not currently decentralized, and requires a "conductor" to run securely, which will be removed in the future, apparently. The other criticisms are at the first implementation (rolling own crypto), which is an error that impacts confidence in the team but not the currency / concept.
- danieldelouya 9y agoThey will switch to a decentralized coordinator this or next month
- albertgoeswoof 9y agoWhy not now? (genuine question)
- yestur 9y agoByteball exists and doing well just missing marketing (there wan no ICO! so no big funds). Also has witnesses system but 3rd party witnesses already exist and promises to allow more decentralized once ripens
- tfha 9y agoIt is too good to be true. And it's not true. You will not be able to find any major bitcoin devs saying anything encouraging about iota. Nor tangle/braid/dag researchers. Nor ethereum devs. Nor respected academics. Why? Because everyone serious who has taken time to look at the paper has realized it's not a valuable project, and makes plenty of claims it can't back up.
- carolita 9y agoAnd WHY would that be that no Bitcoin dev says good things about another crypto? Hmm, no conflict of interest at all.