interesting post. I am interested in his investigation of byteball. I think byteball has a lot new features that are very useful.
Byteball has the following flaws:
- Centralized consensus:
- Liveness risk:
- Unscalable transaction fees:
- Inadequate validation insecurity:
- Limited scaling:
- Not real-time confirmation:
No. "Checkpointing" is done to protect against 34% attacks which would be conducted by dudes publishing Bible on Bitcoin blockchain. Just wait for IOTA network to become larger.
IOTA
can't function without its centralized Coordinator servers.
The
excuse that we should prove it won't work without Coordinator is a delaying tactic of the scam.
They have been
challenged to disprove that it's not entirely worthless, and refuse/delay to do so.
While they
delay awarding ICO tokens, presumably so that insiders can cash out before the pump & dump scam collapses.
Warning: something new will be launched soon that is so far superior that it is going to make both of these highly inferior DAG coins
clearly worthless.
Both in terms of technology clearly stated (and challenges they will not meet) and also
verifiable market adoption that will be orders-of-magnitude greater.
I would wait to release a better coin. Otherwise the IOTA people will just steal your ideas and claim as their own, since they have connections to other companies, and massive amount of shills, a new coin would not be able to compete. Your new coin would just solve their problems, while they would reap the rewards. Just wait until it dies, when the partners start looking for new partners.
IOTA is specified so poorly, they can tomorrow release an entirely new coin and their fanbois and money would not care or notice. IOTA is selling an idea, not a product, the buyers think they are buying a slice of "IoT crypto market", see how many times the buyers had to re-"claim" their tokens, and how many were scammed out of their "tokens" by that process.
Can you imagine, "Ugh, we have a new idea and a process to claim the bitcoins you own, so all your bitcoins from before are worthless, but you can email the founders to claim your new bitcoins". People swallow that.