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IOTA Surges Past Ripple

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Re: IOTA Surges Past Ripple

#81

Post by Buttes »

EGreg wrote: post #73
Buttes wrote: post #71

Earlier quoted context omitted.

My understanding is you only need 33% of the hash power at any given time . Since PoW is only done as part of sending transactions, it probably takes less hash power than you'd think to cause problems.

Why does everyone repeat that Byzantine consensus requires maximum 33% of participants to be dishonest? If messages cannot be forged, then a consensus could make positive progress with even 99% of participants being dishonest.

>Why does everyone repeat that Byzantine consensus requires maximum 33% of participants to be dishonest?

Not 33% of participants, 33% of the hash power, could just be one participant with a pile of GPUs or ASICS or "JINN" chips lol. That's the claim made by the IOTA author, anyway.

Right now it wouldn't surprise me if someone could amass 90+% of IOTA hash power anyway.

>If messages cannot be forged

Tbh this is not even a given with IOTA.

Re: IOTA Surges Past Ripple

#82

Post by Aledgerly »

tfha wrote: post #60

IOTA is built by a bunch of technical founders who know enough about blockchain to confuse a lot of non-experts into thinking they are really smart and credible. But you will see very consistently in the cryptocurrency space that the experts refuse to endorse iota, and frequently say strongly negative things about it. They are very effective at selling snake oil, but that's all their blockchain is. The tangle that th…

You are so full of lies...

"know enough about blockchain to confuse a lot of non-experts". Yes, they just INVENTED full Proof of Stake, they did the first decentralized voting, asset exchange, supply chain and so much more on top of blockchain since 2011.

They pioneered so much of this space that to hear you lie flat out is almost too dumb to even spend time correcting.

There is no one on Earth with more blockchain expertise than the IOTA team, not even Etheruem (they are largely basing their future on the work IOTA's team did in 2013)

Re: IOTA Surges Past Ripple

#83

Post by Aledgerly »

donquichotte wrote: post #25

So this [1] is where they announced their "partnership" (which, to me, remains obscure in nature) with Microsoft. The blog post is long and features many well-made graphs, including pictures of "Data Silos" with a pictogram of a lock on it, slogans like "Data is the new Oil" in a subsection "Crudely put, data is the new crude", the famous DIKW Pyramid (Wisdom, Knowledge, Information, Data) and, my favourite, the titl…

Everything in that blog post is very much what the rest of the industry is agreeing with. Sources backing this up is even cited in the damn blog post man.

Re: IOTA Surges Past Ripple

#84

Post by algorithmsRcool »

Aledgerly wrote: post #77
Buttes wrote: post #70

Earlier quoted context omitted.

It gets better... their "improved" version of "curl"? Kerl. You can't make this shit up.

Kerl is Keccak I.E. SHA-3, the international NSA standard. They called it Kerl for fun in homage of Curl, which is still under active development with the absolute world-leading cryptographers of lightweight cryptography. Curl had to be invented to push LIGHTWEIGHT cryptography which is necessary for the Internet of Things. It's quite astonishing how much misinformation is spread around. https://blog.iota.org/iota-fo…

I am very curious about what 'LIGHTWEIGHT' cryptography is defined as. I am also dubious about anyone that claims to have 'absolute world-leading cryptographers' since many strong cryptographers are quietly employed by intelligence agencies and most others are academics.

Also, since we are being pedantic, SHA-3/Keccak is an NIST standard, which is a federal agency of the United States.

Re: IOTA Surges Past Ripple

#85

Post by EGreg »

Buttes wrote: post #81
EGreg wrote: post #73

Earlier quoted context omitted.

Why does everyone repeat that Byzantine consensus requires maximum 33% of participants to be dishonest? If messages cannot be forged, then a consensus could make positive progress with even 99% of participants being dishonest.

>Why does everyone repeat that Byzantine consensus requires maximum 33% of participants to be dishonest? Not 33% of participants, 33% of the hash power, could just be one participant with a pile of GPUs or ASICS or "JINN" chips lol. That's the claim made by the IOTA author, anyway. Right now it wouldn't surprise me if someone could amass 90+% of IOTA hash power anyway. >If messages cannot be forged Tbh this is not ev…

Okay but it was more of a general question. I see Hashgraph and others always saying that they need 33% of participants to be honest. But with unforgeable message signatures that limitation doesn't apply.

Re: IOTA Surges Past Ripple

#86

Post by tuddman »

Buttes wrote: post #70
hobofan wrote: post #11

Earlier quoted context omitted.

> the IOTA developers had written their own hash function, _Curl_ Did...did they intentionally name it curl, so that when you search for "Is curl secure?" you will find articles saying that curl - the widely used library - is secure, in the hope that people will confuse the two? I know that you shouldn't assume malice when it can be explained with incompetence, but combined with some of the other points here, I can't…

It gets better... their "improved" version of "curl"? Kerl. You can't make this shit up.

kerl comes from the fact it wraps & extends keccack hashing library. So the name is actually quite fitting.

Re: IOTA Surges Past Ripple

#87

Post by baby »

knocte wrote: post #5

IOTA is kind of a joke IMHO: * They have this thing called the "coordinator" which is a master-node run by them, which is a single point of failure. The codebase that this node runs is proprietary software. They claim there will be no need for this masternode in the long run but they never say any ETA about when to remove it (which hints that removing it may always expose the security flaws of their network). This me…

Ripples sounds more legit to me. I mean look at this thread about IOTA: https://www.reddit.com/r/Iota/comments/70ya29/time_for_a_par...

Anyone putting their money in IOTA is an absolute idiot.

Re: IOTA Surges Past Ripple

#88

Post by gruez »

gtrubetskoy wrote: post #74
lojack wrote: post #39

Earlier quoted context omitted.

I see this argument against premining all the time, and while I’m not bullish on IOTA, I think it’s worth at least calling out... just because it’s premined doesn’t mean it’s a scam. Most of the time I see this argument from crypto purists that think the only valid currency is evenly distributed. Using XRP as an example (because I’m most familiar with it), Ripple has been nothing about transparent about the supply of…

> just because it’s premined doesn’t mean it’s a scam Not a scam, but there is a problem with premining. Consider the first 1 million Satoshi's bitcoins, which, albeit unintentional, still qualifies as pre-mining IMO - we don't know who owns them and whether they are spendable, their value is mind-boggling and if any one of them is spent, it can cause a panic.

It's not premining because it was publicly announced so you at least had a chance of getting it

Re: IOTA Surges Past Ripple

#89

Post by tuddman »

knocte wrote: post #5

IOTA is kind of a joke IMHO: * They have this thing called the "coordinator" which is a master-node run by them, which is a single point of failure. The codebase that this node runs is proprietary software. They claim there will be no need for this masternode in the long run but they never say any ETA about when to remove it (which hints that removing it may always expose the security flaws of their network). This me…

> It's 100% premined, which smells as scammy as Ripple. It's not a coin, it's an entity handing you gift vouchers with their name on it.

No scam. There was an announced, publicly available crowd sale available to anyone paying attention & interested in 2015. Sorry you missed it.

Re: IOTA Surges Past Ripple

#90

Post by p33p »

q-base wrote: post #78
tfha wrote: post #60

IOTA is built by a bunch of technical founders who know enough about blockchain to confuse a lot of non-experts into thinking they are really smart and credible. But you will see very consistently in the cryptocurrency space that the experts refuse to endorse iota, and frequently say strongly negative things about it. They are very effective at selling snake oil, but that's all their blockchain is. The tangle that th…

I do not own IOTA - thought about it some months back but decided against it because I don't fancy doing trades on or supporting Bitfinex. Another HN user swayed me away from Monero - which I owned a large part of as he told me about scaling issues. But my question is to your advice about: look to other experts. As someone coming outside the crypto-universe it is kind of hard to distill who the real experts are - so…

I'm also very interested in hearing the answer to this.
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