Topic: IOTA (Read 136 times)
IOTA is a centralized project which failed. Any money you put into it is the same as throwing it in trash.
Take a look at this topic
IOTA: Snake oil insecurity with a centralized kill switch to shut off your money
The coordinator is a central node which validates transactions. When you do not care about decentralization, the network is vulnerable to attacks. Free/instant transactions comes at a cost.
The coordinator was stealing people' fund.
Are you sure you wanna invest in such a project?
Take a look at this topic
IOTA: Snake oil insecurity with a centralized kill switch to shut off your money
From Coindesk, with my red boldface added:
Quote from: Coindesk
IOTA Foundation Suspends Network, Probes Fund Theft in Trinity Wallet
Feb 13, 2020 at 23:22 UTC
Updated Feb 14, 2020 at 15:14 UTC
IOTA Foundation, the nonprofit behind the IOTA distributed network, recommended users close their Trinity wallets Thursday after multiple reports of fund theft.
IOTA said it started receiving the reports Wednesday and decided to shut off the Coordinator node in the network for further investigation.
[...]
On Twitter, IOTA said it is working with law enforcement and cybersecurity experts to investigate a coordinated attack that resulted in stolen funds.
Dominik Schiener, co-founder of the IOTA Foundation, did not respond to request for comments before the press time. CoinDesk will add updates as the story develops.
Feb 13, 2020 at 23:22 UTC
Updated Feb 14, 2020 at 15:14 UTC
IOTA Foundation, the nonprofit behind the IOTA distributed network, recommended users close their Trinity wallets Thursday after multiple reports of fund theft.
IOTA said it started receiving the reports Wednesday and decided to shut off the Coordinator node in the network for further investigation.
[...]
On Twitter, IOTA said it is working with law enforcement and cybersecurity experts to investigate a coordinated attack that resulted in stolen funds.
Dominik Schiener, co-founder of the IOTA Foundation, did not respond to request for comments before the press time. CoinDesk will add updates as the story develops.
The coordinator is a central node which validates transactions. When you do not care about decentralization, the network is vulnerable to attacks. Free/instant transactions comes at a cost.
The coordinator was stealing people' fund.
Are you sure you wanna invest in such a project?
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