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The trits are bizarre and introduce complexity but isn't necessarily a critical flaw. I don't see anything in the article about them. They rolled their own cr
by psychlops 7y ago
The trits are bizarre and introduce complexity but isn't necessarily a critical flaw. I don't see anything in the article about them. They rolled their own crypto, but later corrected it.
Indeed, it has had their centralized Coordinator with plans to decentralize. Is that a flaw? Maybe, but it's also a scaling issue.
The distributed proof of work is novel as well as the absence of centralized mining and transaction fees.
- jki275 7y agoThey "corrected" it when they were called out on it, while claiming it wasn't a problem, and also claiming they did it on purpose so that if someone "stole" their code they could attack and destroy anything someone else would create. Truly bizarre bullshit.
- psychlops 7y agoI don't recall reading about their rationale that way. Only the unholy way in which they defended it, while swapping it out then sequestering all iota until claimed through centralized means. Sadly, I don't think that the blind defense of flawed security is that bizarre and is all too common today. That said, it was corrected and seems solid to date.
- jki275 7y agoSolid? The entire ecosystem has been down for two weeks because it's a centralized shitcoin. There's nothing "solid" about this. It's a scam. And yes, that's exactly how they described it.
- psychlops 7y agoWhat's not solid about their current Kerl implementation? It's a scam? Any link to how they are intentionally stealing money? I'd like to know how you know.
- jki275 7y agoI don't have the time or inclination to engage with shills. Read for yourself and make up your own mind. https://bitcointalk.org/index.php?topic=5227016.0 https://bitcointalk.org/index.php?topic=5227016.0