IOTA blockchain will die ?

in blockchain •  6 months ago 

While everyone speaks about Steemit and Tron which is, of course, an important topic i will wait some days when we know more. Im very aware of how TRX works since i have it since ICO yet before i speak my mind i want to hear more ie on tommorows AMA.

So we had another successful ico - IOTA.

It doesn't use blockchain but rather something called the Tangle which does not consist of transactions grouped into blocks and stored in sequential chains, but as a stream of individual transactions entangled together.

In order to participate in this network, a participant simply needs to perform a small amount of computational work that verifies two previous transactions. Rather than creating a hierarchy of roles and responsibilities in the network, every actor has the same incentives and rewards. In order to make a transaction in the Tangle, two previous transactions must be validated with the reward for doing so being the validation of your own transaction by some subsequent transaction. With this 'pay-it-forward' system of validations, there is no need to offer financial rewards.

IOTA was about the Internet of Things that do work with some nice companies and its 2nd time the chain stopped. The first time there was some minor bug in the tangle but this time hackers found the bug not company itself and stole millions USD worth of IOTA.

The main walletTrinity, IOTA’s official wallet, has been exploited. The chain has been stopped and doesn't work for 3 days. IOTA tells people to NOT open the wallet at all of more funds can be gone and tries to find thiefs with police.

But they have live partnerships i wonder what with them, will the cars using IoT stop now? :)
Microsoft, Volkswagen, Fujitsu, Bosch... really big names.

The coin took a big hit in prices, you can still trade it ie on Binance but cannot deposit or receive.


Pretty good exchanges here if you never tried i recommend CoinEX its really undervalued but pretty much all of this list like Okex etc are good. Just not fuckin HitBTC scam.

IOTA Chart from Binance


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because some users try to hide the truth about IOTA ive published to competitor platform -

I personally think steemit is doomed, uptrennd is getting some nice traction so I think people will eventually migrate there, publish0x is not entirely there for me, you know? About IOTA, well, they saw it comming. They knew, they didn't give a crap. Blaming hitbtc of being a scam while defending IOTA is a truly silly hill to die on.

Wow very important

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yes,sir. very

IOTA, what a sad state and they used to be the next hot thing.

indeed man

Yup, I managed to sell my IOTA on time on hitbtc shortly before the net reset and haven't looked back. Not sure the situation of IOTA right now though. GL if you didn't see the writings on the wall

at this point I no longer have any interest in IOTA, I read a lot of news about hackers stealing money from IOTA wallets

i got some tokens left but i doubt ill profit

This project has been an embarrassment even seen they overreacted to MIT finding bugs into their code base, now it's a community of trolls and crypto bros...

yeah still top IoT project despite that

Top IOT project in crypto maybe, I am sure there are other projects out there that are working on this



Thanks to all this commotion we learned about other situations and realities. May it all be for the best @kimgscrown.

no problemossss

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IOTA might've sighed their last breath with the last thing they pulled by shutting of the chain... I think hitbtc was actually one of the decent exchanges it was listed on, considering how long it's been on business and the fact it's the only one to never been hacked so far

I saw the exact same article written before this, is this your original work kingscrown? Either way, I'd take only bitfinex away from the list, so far hitbtc's only issue is the seemingly mandatory KYC requirement for withdraws which is okay, they never advertise themselves as not needing KYC so I don't know how people get the idea KYC is optional