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I'm the author of the blog post. Thanks for posting! I can answer any questions you have about the IOTA review or other shitcoin reviews.
Of course it's not meant for IoT. It's written in Java, has the whole ternary nonsense going, and uses custom crypto, which would be really slow to implement, compared to hardware-accelerated RSA or AES most cheap embedded chips have nowadays. I, for one, am excited for the moment a cryptocurrency arrives that is actually usable for its supposed use. Every time someone claims to be a cryptocurrency for X (be it file…
Ripple, for cross-border payments. Already in use by several banks, Moneygram, LianLian, Western Union is rumored as well. Bank of England is a customer, a few other central banks are rumored to be getting into it. They have several pieces of software, all of which lead to using their cryptocurrency XRP.
No bank would use such a volatile currency for payments, for obvious reasons. If someone ends up using a technology based on the Ripple codebase, that's another story, but it is more like company X hiring the people behind Ripple for a consulting gig, then company X betting their fortunes on XRP.
IOTA also claimed to have a partnership Microsoft, when in fact it turned out they used Azure for hosting. The lack of any journalistic standards in cryptocurrencies is a huge issue.
Of course it's not meant for IoT. It's written in Java, has the whole ternary nonsense going, and uses custom crypto, which would be really slow to implement, compared to hardware-accelerated RSA or AES most cheap embedded chips have nowadays. I, for one, am excited for the moment a cryptocurrency arrives that is actually usable for its supposed use. Every time someone claims to be a cryptocurrency for X (be it file…
Ripple, for cross-border payments. Already in use by several banks, Moneygram, LianLian, Western Union is rumored as well. Bank of England is a customer, a few other central banks are rumored to be getting into it. They have several pieces of software, all of which lead to using their cryptocurrency XRP.
Ripple is just a old fashion money-wiring business, but uses the XRP as internal booking Symbol.
Of course it's not meant for IoT. It's written in Java, has the whole ternary nonsense going, and uses custom crypto, which would be really slow to implement, compared to hardware-accelerated RSA or AES most cheap embedded chips have nowadays. I, for one, am excited for the moment a cryptocurrency arrives that is actually usable for its supposed use. Every time someone claims to be a cryptocurrency for X (be it file…
You clearly don't know much about IOTA. IOTA will require hardware that is customized to operate in trinary and perform IOTA PoW in a fast, energy-efficient manner. This hardware component is being tackled by JINN. No blockchain will work with IoT. Any decentralized ledger whose throughput cannot rise with transaction volume will not be scalable. I advise you read up on IOTA before saying outlandish things like "Of c…
This must be the most insane "Internet of Things" project ever. How did they come up with this nonsense?
Earlier quoted context omitted.
You clearly don't know much about IOTA. IOTA will require hardware that is customized to operate in trinary and perform IOTA PoW in a fast, energy-efficient manner. This hardware component is being tackled by JINN. No blockchain will work with IoT. Any decentralized ledger whose throughput cannot rise with transaction volume will not be scalable. I advise you read up on IOTA before saying outlandish things like "Of c…
IOTA will require hardware that is customized to operate in trinary and perform IOTA PoW in a fast, energy-efficient manner This must be the most insane "Internet of Things" project ever. How did they come up with this nonsense?
Earlier quoted context omitted.
You clearly don't know much about IOTA. IOTA will require hardware that is customized to operate in trinary and perform IOTA PoW in a fast, energy-efficient manner. This hardware component is being tackled by JINN. No blockchain will work with IoT. Any decentralized ledger whose throughput cannot rise with transaction volume will not be scalable. I advise you read up on IOTA before saying outlandish things like "Of c…
IOTA will require hardware that is customized to operate in trinary and perform IOTA PoW in a fast, energy-efficient manner This must be the most insane "Internet of Things" project ever. How did they come up with this nonsense?
An IOTA efficient IoT device would simply have a tiny JINN ASIC to perform the PoW necessary to attach a transaction to the tangle.
I will add that I did mis-speak in that sentence. The hardware is not necessarily required, but will make the PoW for IoT devices negligible in terms of both transaction attachment times and energy usage. The tangle is expected to be running smoothly without the coordinator before any adoption of JINN hardware takes place.
For anyone interested, there's been a response to this article by Ralf Rottmann: https://medium.com/@ralf/andreas-brekken-proves-he-has-no-cl...
so basically an ad hominem attack that doesn't really respond to anything.
All the arguments about "how can something that's pre-alpha be worth billions of dollars" are perfectly valid, but the original article seemed to address IOTA's worth for IoT devices, and seems to have missed the plot on that.
For anyone interested, there's been a response to this article by Ralf Rottmann: https://medium.com/@ralf/andreas-brekken-proves-he-has-no-cl...
I saw that. He's mentioning a company, "Helix Capital Investments Ltd", that I've never heard of.
Of course it's not meant for IoT. It's written in Java, has the whole ternary nonsense going, and uses custom crypto, which would be really slow to implement, compared to hardware-accelerated RSA or AES most cheap embedded chips have nowadays. I, for one, am excited for the moment a cryptocurrency arrives that is actually usable for its supposed use. Every time someone claims to be a cryptocurrency for X (be it file…
They've had some other scandals too! "Emptied IOTA Wallets: Hackers Steal Millions Using Malicious Seed Generators"[1] [1] https://www.ccn.com/a-number-of-iota-wallets-emptied-by-hack...