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Topic: Does anyone truly understand IOTA? - page 6. (Read 6673 times)

full member
Activity: 148
Merit: 106
June 13, 2017, 01:01:41 PM
#1
Let's leave price aside.

IOTA promises to have found the holy grail - infinite scalability with zero transaction fees.

If that is truly so, then screw just the IoT usage, such a system should replace every imaginable form of value transaction known to humanity.

Questions that arise from it are:
1. What is the mechanism behind such an ingenious discovery?
2. How come nobody came with the idea before (there must have been some bright minds within blockchain technology who understood the scalability and fee problem and never came up with solution)?
3. What prevents other coins from implementing such a revolutionary design?
4. Can other coins with established market caps and track records switch to such a design?
5. Who secures the network if there is no fee-incentive?

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