Cryptocurrency 3.0? 4.0? Do we need to eliminate the blockchain?
IOTA claims to be the killer tool in the fight to systematize the internet of things. With free, instant transactions, IOTA is a breath of decentralized fresh air! Or is it? Actually, instead of each user processing 2 transactions for every 1 that it sends out, IOTA uses a centralized processor called “The Coordinator,” and that is just the start of the problems. The Tangle can’t scale until it’s at scale, and rather than having increased adoption of the network, we have only seen it diminish, which is a bad sign for a project that seems to have a ton of people on the payroll while the wallets don’t even seem to work consistently.
Kurt takes a critical view of IOTA, and mentions competitor Digibyte as a viable alternative that functions today! Watch to learn what IOTA does right, wrong and everything in the middle!
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