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IOTA

IOTA is a cryptocurrency that's based around Directed Acylic Graphs (DAG) rather than PoW or POS consensus mechanisms. IOTA is aimed at removing the need for blocks and transaction fees.

Finance and payments

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Reviews for IOTA

🔑 0 positive | 💩 20 negative

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While IOTA was one of the first major projects to build a DAG instead of a blockchain, we find that the approach taken by the IOTA team presents many reasons to be highly concerned. While DAG-based systems may form an important part of the future of the crypto ecosystem, we have reservations about the DAG implementation of IOTA, as listed above.

2018-01-23 | Full Review

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Most of the stuff in this space doesn't get actively exploited. Look at BTCP or IOTA, both terribly, hilariously insecure, and, yet . . . nothing. That doesn't make them secure; it only means there is lower-hanging fruit for people to exploit.

Matt Corrallo, Engineer at Chaincode Labs and Bitcoin Core Developer

2018-06-03 | Full Review

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IOTA is a bad joke but still has a $4B market cap, 5x that of last summer. ICO market seems frothy still.

2018-05-28 | Full Review

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IOTA has some promising ideas. Its community needs to learn to be better team players though.

2018-04-26 | Full Review

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IOTA is garbage.

2018-03-31 | Full Review

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IOTA is so batshit crazy they managed to turn a theoretical one-time-signature vulnerability into an actual, practical-to-exploit one.

2018-03-12 | Full Review

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I like to think the markets will eventually abandon tech-train-wreck coins (like IOTA).

2018-02-25 | Full Review

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IOTA's primary pitch is to be infinitely scalable and free. This requires that users run nodes that validate transactions, and that these "users" can be things like a toaster to be applicable for IOT. Tangles use tiny amounts of PoW to validate and prevent spam. But . . . if the PoW required is so low that your toaster can do it, then it's also low enough that a bad actor can mess up the graph with cheap spam.

Ari Paul, Co-founder and CIO of BlockTower Capital

2018-02-19 | Full Review

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IOTA is more appropriately described as a “crowdsourced hate machine” these days.

Nic Carter, Partner at Castle Island Ventures and Co-creator of Coinmetrics

2018-07-24 | Full Review

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IOTA is a scam.

2018-07-13 | Full Review

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IOTA just wound up with a worse set of choices because the reality of this fundamental trade-off wasn't confronted. So instead of a considered optimization, we get a lopsided choice that fails to scale.

2018-09-09 | Full Review

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IOTA is amazingly bad. I find it hard to believe it's valued at billions of dollars. I guess they have great marketing or something. I never got into it because I looked at their Java reference implementation and found it to be a mess.

2018-01-24 | Full Review

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A quick reminder that it’s November 2018 and IOTA *still* depends on a centralized server to keep their network from forking.

2018-12-25 | Full Review

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IOTA, made by the same geniuses who rolled their own cryptography without peer review, harassed the cryptographers who found the vulnerability, and tried to cover it all up with increasingly absurd excuses.

2018-11-21 | Full Review

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We have evidence that IOTA intentionally has been misleading their community.

2018-07-31 | Full Review

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I strongly disagree with many of IOTA's technical decisions (trinary, custom hash functions, POW on transactions), and find some of their behavior deeply egregious to the point where it goes beyond mere negligence. The "security flaw as copy protection" thing is particularly offensive, and makes it difficult to trust the current dev team.

2017-09-26 | Full Review

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