A lot have been sceptical around the hype that is placed around IOTA, although it brings to mind so many new ways to think about the blockchain (or the Tangle).
No transaction fees, no miners(miners being the participants), the use of a regulator at the initiation of the network to make system 30% honest, the Tangle itself which improves security and efficiency as the network gets larger, the use of ternary encoding which (may be) quantum-resistant.
All these thoughts are so good to someone who does not understand the implications of the technology. For example, their attempt to make their own hash function, the curl, had security flaws. And everyone knows to never try to make your own cryptography. Several technologist have suggested that what IOTA does is unnecessary complicated, but sometimes I like the freshness that breaks the mould of how to do consensus protocols.
Perhaps, there are other coins out there which put creativity above practicality in their consensus. Do you know some innovative yet legitimate coins?
Everytime someone claims "I've got this new coin, it's better than bitcoin and as secure as bitcoin or even more, and it uses no miners and no fees" my scam alarms got all time highs.
IOTA has been criticized heavily already, and I think it's demonstrated how it is not a better system than PoW. It has it's pros and cons, but you cannot trust a 100 billion dollar economy on that system at all.
Dagcoin and Byteball use the so called DAG (Direct Acyclic Graph) rather than classical Bitcoin-like blockchain. This may seem like a good idea, but again, has pros and cons. And it's obvious the token distribution problem is an huge one, but look into these.
I've also heard something about Hashgraph but im not sure what this done does yet.