IOTA under critical assessment, new discoveries?
A series of articles addresses the tangle whitepaper, the iota foundation team and the technical implementation of Iota.
Amidst all the hype and FUD about iota, this in-depth analysis provides a balanced view on the tech, not without a few critical points:
Part 1: General overview
https://medium.com/konfid-io-blockchain-reports/iota-report-decoding-the-tangle-part-1-a7705c458583
Part 2 - tangle snapshots and transaction history:
https://medium.com/konfid-io-blockchain-reports/iota-report-decoding-the-tangle-part-2-the-known-and-unknown-history-of-the-iota-project-3db9f5f3cfa3
Part 3: coordinator discussion
https://medium.com/konfid-io-blockchain-reports/iota-report-decoding-the-tangle-part-3-4-284e7703dd2c
Most of the coordinator issues are known already, and the iota foundation has addressed these and die already announce that the coordinator is continually phased out, thus the criticised centralization will be removed.
The second part covers the transaction history, which apparently - because of the regular snapshots taken - cannot be browsed back to the genesis, which really sounds like an issue.
The tech of the tangle might still be in beta but still, with billions now sold via the ico, a complete transaction history is critical.
There is a a part IV of the series announced which should be published around next week, so let's see what the final conclusion will be.
What's your thoughts on this?
Found this interesting? please up-vote, comment, follow me!
yeah coordinator is a must at the moment, as a training tool, it is used to boost network, because atm network doesn't have a lot of nodes, so it can not function properly. Here is a statement regarding the issue from David Sonstebo: "You don’t take the kid, put him on the bike for the first time, fuck the helmet and everything and put him on the steepest hill. Even though the intention is to learn him how to ride a bike, you just don’t do that. You put him on the bike, you put on training wheels, you give him helmet, you teach him how to be balanced and coordinated and wait untill kid evolves before you take away training wheels and helmet!"
I am a big fan of David Sonstebo, I think team behind IOTA is rock solid, but they do have a very futuristic vision, a lot of ppl dont realize that.
Public is evaluating IOTA like they have a working product, they dont, their goal is to conquer IoT, market worth trilions of dollars, to do that you need more time than 2-3 years...if they manage to achieve that 2/10 times my investment still has really good EV (expected value).
100% agree with what you say, IOTA is not in production phase, and Dom Schiener has stressed this several times, saying he is "hoping to reach production by the end of the year", still many analysist pretend otherwise and as if there wasn't a roadmap up still to cover.
Nevertheless, the info about the historical transactions is something i dont like to hear ( i always thougt a snapshot would also make accessible all past transaction, which not seems to be the case), with billions of dollars invested that should be covered better imo, if in fact true.
Last one is out: https://medium.com/konfid-io-blockchain-reports/iota-report-decoding-the-tangle-part-4-4-939543ac0050