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RE: IOTA is problematic ($MIOTA) Broken Internet of Things
@cryptoportfolio you are the man for exposing scams like VERI. Any great Financial Analyst knows how to independently verify for themselves what the crowd does not see. IOTA has massive security issues and we appreciate you pointing this out in great detail. Nearly every great developer in the blockchain space has come out against IOTA not b/c of competition but b/c it has critical security flaws that go against cryptographic consensus mechanisms. Thank you Dan!
If the security issues are so massive, I wonder, why there hasn't been any equivalent of the DAO on IOTA, yet? 🤔
The DAO hack was a smart contract breach of the DAO only. It had nothing to do with the Ethereum core protocol. IOTA concerns many cryptographic experts b/c its not full consensus many times over like blockchain + Raiden or LN will allow very cheap transactions in the future. EOS and Steem are also "free" transactions. Apps will be built for IOT plugin to use with ETH, NEO, EOS and other Blockchain based systems. The problem with IOTA is its not secure and there is little advantage over off chain scaling. Any blockchain can do IOT in the future not just IOTA like its branded.
If it wasn't secure then it could be hacked. There is a 1.6 billion dollar bounty. And yet no funds have ever been hacked. No, IOTA is secure, more than any blockchain. You just swallow the FUD and don't look beyond surfaces.