[dtube] IOTA Cryptocurrency Review

in dtube •  last year  (edited)


This is my cryptocurrency review of IOTA that I posted on YouTube on July 10th, 2017.

***I am in the process of adding many of my videos from YouTube on to DTube. Apologies for any posts that you've already seen before!


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All scalable coins with zero fees have a bright future.

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You got a 19.82% upvote from @minnowvotes thanks to @discernente!

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2.05% @pushup from @discernente

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I heard that IOTA is Backed by Very big companies like Bosch, Innogy, Microsoft, Cisco, Ubuntu etc.. That's a good sign!

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Absolutely!

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Although this is all good, for proper assessment more information is needed -- level of engagement (a cursory google search shows no information on what Microsoft is really backing when it comes to IOTA?), next milestone(s) (especially for external stakeholders such as Bosch--what do they really see in IOTA??).

I really like the Iota project, it will only grow over the years. Im glad I invested into it while it was still under 50 cents a coin.

LOVE IOTA!

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When it comes to choosing to invest in either IOTA or Streamr, an important consideration is the scope of each project. Many projects fail when scope creep occurs, which is when the direction of a project shifts or requirements snowball over time. When looking at both projects, it’s clear that IOTA’s team is taking on significantly more than Streamr’s team. The largest task for IOTA’s team is the creation of Tangle, a new transaction process, from scratch. The amount of brainstorming, development, and testing is enormous; and any error will shake confidence in the security of the product. Unfortunately, on July 14th, 2017, a team of researchers at MIT’s Media Lab found glaring red flags in the which took three weeks to fix, which means the $2B IOTA cryptocurrency had a three-week window where users could steal funds from others – a cripplingly long time window for such a large issue. To this day, there are still cryptocurrency experts are staying away from IOTA due to the severity of past bugs and trust issues with the team.

Streamr, on the other hand, is building on the tried-and-true code of Ethereum. In order to overcome the limitations associated with transaction throughput, Streamr is utilizing Ethereum as a means of purely exchanging contracts and not data. Instead, all data transactions occur off the blockchain by utilizing the Streamr’s proprietary data processing engine. By leveraging the verification process of Ethereum, the development team of Streamr can instead focus the majority of their attention on the off-blockchain parts of their technology, which include the processing engine, application development platform, and making key business deals. As the core of the transaction model is rock solid, it allows the team to focus entirely on their off-blockchain portions of their product. Ultimately, this will mean Streamr’s development process will become much more nimble than IOTA’s, as they are not bogged down by extensive testing associated with the transaction process.

Iota is a brand new and novel micro-transaction cryptotoken optimized for the Internet-of-Things (IoT). Unlike the complex and heavy blockchains of Bitcoin and the like, which were designed with other uses in mind, Iota is created to be as lightweight as possible, hence the name "Iota" with emphasis on the ‘IoT’ part.

The number of connected devices that will permeate our modern landscape in the coming decade is estimated to be 50 billion(!) Each of these are designed to make the world a better and more seamless place for us. Tied to this fantastic promise are of course a ton of obstacles to be overcome, of which one major one is micro-transactions. These connected IoT devices must be able to automatically pay miniscule amounts to one another in a frictionless manner without having to compromise on product design by introducing additional hardware. This is why Iota was conceived.

While it was developed as a solution to scalability issues faced in IoT, the underlying protocol is agnostic and can be applied in any other use-cases that utilize micro-transactions.

In order to achieve these audacious goals Iota’s design diverged radically from blockchain cryptocurrencies. It still retains the core principle ideas of the distributed consensus blockchain, but in order to be able to scale to the size of the coming Internet-of-Things ecosystem with tens of billions of devices that are connected to each other, it needed to be very lightweight and efficient. This problem is solved by Iota’s core innovation: the tangle.

Thanks, Louis. What exchange do you recommend for IOTA? (I'm in NZ). Any guides you can recommend would be appreciated.

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Binance is where I have my Iota

IOTA has right now pulled back a little bit but i believe soon it will go up again with a lot ! Hope so :))

it's great to see you in dtube carry on waiting for your other videos

just started following

i enjoy your post ^^! Thanks.

What do you think of vertcoin?

Thanks for vid, I love iota and I think it will be huge in 2018!

No miners and no transaction fees means you can’t make money with it. You can only trade, so many people will not be interested in it

happy for today!

I can't log in to my IOTA wallet since the latest version. anyone know what could be wrong?

I believe the coins with huge coin counts are the real cryptos they are more aware of the ioT to come. Black mirrors were used by witches and wizards way way back to receive knowledge. Our phones and tv's are all Black Mirrors ;) haha funny/creepy

good!.

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Caught this over on your youtube channel, yeah, you certainly have your ear to the ground, only wish I had heard it when it came out...DOH!!

  ·  last year (edited)

I see IOTA heavily compared to RaiBlocks, and since RaiBlocks has Asynchronous transactions how would that reflect to IOTA? as a first glance seems like RaiBlocks would be leading.

I think Dtube is future of internet!

see my simple post on metals...what's your take..(upvoted.)

As someone who works in the micro-chip design industry I am afraid that the "the tech industry" will probably create a special interest group and define their own standard (e.g bluetooth) rather than adopt a proprietary standard such as iota. In my opinion this would be the the biggest threat to the iota business model wrt the Internet of Things domain. However the iota tech sounds really interesting and seems scalable so I wish them the best of luck. Thanks for the review Louis

IOTA is an all time favorite HODL for me as I bought in @ approximately $0.29 because I was already filly aware of the Internet of Things potential. Great D.tube video.... Followed Upvoted & Resteemed!

Recently the CEO of IOTA made the statement that it will be a top 3 crypto coin in 2018. Would not be surprised it will make the top 5 if it can demonstrate to add value to the internet of things