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https://iota.org/ https://iota.org/ > Scalable, Decentralized, Modular, No Fees

by veeti 9y ago

andrewla 9y ago
Hmm... I did not mean for my reply to be an apology for IOTA, though reading it now I can easily see how it looks like it. I'm not trying to rewrite history and say that "IOTA was never intended to be decentralized". I'm saying, as the article points out, that IOTA is effectively centralized, and the plan for moving to being decentralized is fatally and irretrievably flawed. I also think the rhetoric about being a currency for the "Internet of Things" is a nonsensical claim at best. The fact that the coins does not deliver on anything it promises does not mean that it is worthless, because it still delivers on other things that people find useful. I'm not sold on IOTA (I have no holdings myself) just as I am not sold on the other big centralized competitors (Ripple or Stellar), but I don't think it's significantly worse than either of those in terms of what it delivers.
- fathomit 9y ago
  IOTA is centralized IOTA is more decentralized than any blockchain crypto that relies on 5 pools of miners, all largely based overseas. Furthermore, coordinator isn’t a central server all transactions pass through, contrary to popular misconception. It is just normal actor who adds transactions to the tangle, which other nodes can use as milestones, if they wish. It’s a shepherd, you could say, which the herd can follow so they don’t go astray (following some malicious nodes or whatnot). The Monte Carlo Random Walk algorithm is what will create consensus in the herd when there is no shepherd any more. It will be comparable to every sheep calling out while also following the sound of the call of the rest of the herd. That way they can all tangle up together. Referencing the coordinator is also optional. Also, if you research and understand how IOTA intends to work without the coordinator, it’s easier to accept it for now as training wheels. I suggest reading pg 15 and on of the white paper analyzing in great depth how the network will defend different attack scenarios without a coordinator. For the past several months, IOTA foundation has been using St Petersburg college’s super computer to stress test IOTA and learn when they can turn the coordinator off. There will likely be a blog about the results soon. This is another great read covering double spends on IOTA without a coordinator: www.tangleblog.com/2017/07/10/is-double-spending-possible-with-iota/ This too: http://www.reddit.com/r/Iota/comments/7eix4a/any_iota_guru_that_can_explain_what_this_guy_is/dq5ijrm http://www.reddit.com/r/Iota/comments/7eix4a/any_iota_guru_t... Also this correspondence with Vitalik and Come_from_Beyond https://twitter.com/DavidSonstebo/status/932510087301779456 https://twitter.com/DavidSonstebo/status/932510087301779456 At the end of the day, outstanding claims require outstanding evidence and folks approaching IOTA with a “I’ll believe it when I see it” attitude is completely understandable. It’s all about your risk tolerance.

https://iota.org/ https://iota.org/ > Scalable, Decentralized, Modular, No Fees

by veeti 9y ago

https://iota.org/ https://iota.org/ > Scalable, Decentralized, Modular, No Fees

Hmm... I did not mean for my reply to be an apology for IOTA, though reading it now I can easily see how it looks like it. I'm not trying to rewrite history and say that "IOTA was never intended to be decentralized". I'm saying, as the article points out, that IOTA is effectively centralized, and the plan for moving to being decentralized is fatally and irretrievably flawed. I also think the rhetoric about being a currency for the "Internet of Things" is a nonsensical claim at best. The fact that the coins does not deliver on anything it promises does not mean that it is worthless, because it still delivers on other things that people find useful. I'm not sold on IOTA (I have no holdings myself) just as I am not sold on the other big centralized competitors (Ripple or Stellar), but I don't think it's significantly worse than either of those in terms of what it delivers.

fathomit 9y ago
IOTA is centralized IOTA is more decentralized than any blockchain crypto that relies on 5 pools of miners, all largely based overseas. Furthermore, coordinator isn’t a central server all transactions pass through, contrary to popular misconception. It is just normal actor who adds transactions to the tangle, which other nodes can use as milestones, if they wish. It’s a shepherd, you could say, which the herd can follow so they don’t go astray (following some malicious nodes or whatnot). The Monte Carlo Random Walk algorithm is what will create consensus in the herd when there is no shepherd any more. It will be comparable to every sheep calling out while also following the sound of the call of the rest of the herd. That way they can all tangle up together. Referencing the coordinator is also optional. Also, if you research and understand how IOTA intends to work without the coordinator, it’s easier to accept it for now as training wheels. I suggest reading pg 15 and on of the white paper analyzing in great depth how the network will defend different attack scenarios without a coordinator. For the past several months, IOTA foundation has been using St Petersburg college’s super computer to stress test IOTA and learn when they can turn the coordinator off. There will likely be a blog about the results soon. This is another great read covering double spends on IOTA without a coordinator: www.tangleblog.com/2017/07/10/is-double-spending-possible-with-iota/ This too: http://www.reddit.com/r/Iota/comments/7eix4a/any_iota_guru_that_can_explain_what_this_guy_is/dq5ijrm http://www.reddit.com/r/Iota/comments/7eix4a/any_iota_guru_t... Also this correspondence with Vitalik and Come_from_Beyond https://twitter.com/DavidSonstebo/status/932510087301779456 https://twitter.com/DavidSonstebo/status/932510087301779456 At the end of the day, outstanding claims require outstanding evidence and folks approaching IOTA with a “I’ll believe it when I see it” attitude is completely understandable. It’s all about your risk tolerance.