Eric Wall on IOTA

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Eric Wall is the crypto lead at Cinnober, a company that develops real-time clearing technology for trading venues and clearinghouses.

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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.

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IOTA reviews by Eric Wall

🔑 0 positive | 💩 3 negative

2018

  • 💩

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

    2018-07-31 | Full Review

  • 💩

    I follow DLT projects where the people working on solutions are honest and transparent. IOTA is not only nonfunctional but also opaque and deceitful, sometimes outright malicious, and its community is either dumb or toxic. Therefore, I will give up on IOTA in particular.

    2018-07-13 | Full Review

2017

  • 💩

    IOTA in its current form does not provide any censorship resistance, since the path of the tree is centrally directed through a Coordinator node run by the IOTA Foundation. As such, IOTA is no more decentralized than an Apache Kafka cluster, or Ripple and their Unique Node List.

    2017-06-14 | Full Review

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💩

A *Byzantine* *fault* *tolerant* consensus system's whole purpose is to be designed to handle ANY error or malicious behavior from a subset of the nodes and still reach consensus. In NEO, their system couldn't handle the most simple error of one node.

2018-03-04 | Full Review

🔑

EOS is a necessary experiment with decent performance, semi-centralization and invisible fees.

2018-08-13 | Full Review

💩

I am not convinced by Cardano's base-layer security. AFAIK, it's non-slashing PoS (slashing appears to be not decided on yet but unlikely?). I'd be very curious to learn how this doesn't introduce an array of trust assumptions and attack vectors.

2018-10-07 | Full Review

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💩

IOTA is disputing this in part because

- they lack a functional understanding of cryptography to the extent that they are taking the informal answers of security.stackexchange.com as rigorous definitions;

- they lack any natural intuition about how to think about security, to the extent that they are rolling their own crypto and testing it on production systems without peer review; and

- they lack the social skills to accurately interpret the more qualitative aspects of these textbook definitions, such as what the word “negligible” means.

2018-03-04 | Full Review

💩

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

💩

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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