Quote from: STT on December 03, 2017, 04:56:52 PM

I was told IOTA is far superior to traditional limited blockchain coins but I'm not really familiar with it yet. Is it still in development and open to big changes or is it more in the stages of finishing or removing minor bugs.

How close to proof of stake is IOTA network and what advantages does it have over that process of confirmation. I like that its wanting to work on a variety of connected devices, is that mostly around ARM devices that have become prevalent I guess, could a 'smart LED' become a 'miner' . I suppose its very much including mobile phones in that case. Thats a big positive I think for the mainstream as for many people their best computer is the phone they carry, other coins state this is a positive security issue though.

I wanted to ask really, how vulnerable is IOTA to the vast array of ASIC devices that were built to mine Bitcoin and even some that exist for scrypt. The problem is if the standard is so open to the 'internet of things' dont these devices then count as a vast standing army. Many asic can no longer contribute to BTC as its become too complex, would they be employed in IOTA or be a threat even. Or is IOTA completely different and incompatible to any adaption of previous crypto hardware/technology.

Im interested in the innovation but what is its present processing capability in transactions per hour?

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When i first started using IOTA, i generated my random seed using Microsoft Powershell. I assumed that I can rely on Microsoft for the randomness. I was wrong.The seed generated by Powershell is not random enough and all combinations can by cycled through in a matter of hours or days.

To be fair is that not a problem outside the protocol, a bad random generator.

IOTA is a fantastic project which if successful could be the one which leads the market. HOWEVER, BE VERY AWARE ThAT CuRRENTLY IT hAS FLAWS so make sure if you use their system, be very proactive with their developers otherwise you may wake up without any iota. Either that or keep them on an exchange.

Good luck, keep your coins safe.

To be fair is that not a problem outside the protocol, a bad random generator. - Correct - however had you not known perhaps you'd have used the same seed generator. Consider yourself wise to that threat.