Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => IOTA Forum => Topic started by: Fact on December 07, 2017, 01:39:34 PM
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There is a groing believe that the partnerships published by IOTA are kind of fake !!
https://squawker.org/technology/proof-iota-is-falsifying-partnerships-with-big-tech/
Since November 28, news on thenextweb и Reuters, that IOTA cooperates with Microsoft, Samsung, Cisco, Volkswagen, Fujitsu and many other companies in a two-month project whose goal is to make the data market a truly global and decentralized joint effort.
A few days later the news spreadnumerous media, including CNBC, resulting in an 70% surge occurred on Sunday. Since then, IOTA has been steadily growing.
Everyone was thrilled with the promise that these partnerships could lead to IOTA and decentralization of data in general.
The only problem is whether all of the partnerships are real? Does the IOTA have anything to do with this, or was it a mistake made by the media?
Undoubtedly these companies talk with each other, there is no doubt about it. Microsoft and IOTA are going to meet in Paris 14 December. Fujitsu CEO Dr. Rolf Werner constantly expresses his love and support to the IOTA, but as for the official partnership ...
What about Cisco?
There is no official information, so the representatives of Squawker appealed to them directly. This is their answer:
"Thank you for reaching out to this. I confirmed that your suspicion was correct - Cisco did not unite with IOTA. "
Although both Cisco and IOTA are founding members of the Trusted IoT Alliance (sometimes abbreviated TIOTA). At the same time, this is the only link between the two companies. Squawker turned to Reuters.
- Christine Johansen: PUBLIC RELATIONS MANAGER.IMC
This same lack of official publication exists for Volkswagen. I cannot find anything on their sites and have also reached out for clarification.
Were the announcement of all of these fabricated partnerships part of an engineered pump and dump? Certainly seems like it.
When you have a market cap of just under $10 billion and you see close to $1.5 billion in market volume in one day, that to me raises major red flags.
IOTA’s Vulnerability Issue Discovered by MIT
Then I come across this, tweeted on Dec. 4th by Kyle Samani: cofounder and manager of a cryptocurrency fund called Multicoin Capital:
(https://scontent.fsnc1-1.fna.fbcdn.net/v/t31.0-8/24785049_10215202858687068_8696016104549557088_o.jpg?oh=9eef50e14dc988f5cfd0cf8e77f4e159&oe=5A8D48F2)
This is the article in which MIT disclosed IOTA’s vulnerability: Cryptographic vulnerabilities in IOTA (https://medium.com/@neha/cryptographic-vulnerabilities-in-iota-9a6a9ddc4367), written by Neha Narula: Director, Digital Currency Initiative at the MIT Media Lab.
It is important to note that the vulnerability they discovered no longer exists in IOTA, however, Neha had this to say:
There are other red flags — unlike every other program running on your laptop or phone, IOTA uses ternary instead of binary. Since all computer hardware today uses binary, IOTA converts to ternary in software, which is less efficient and more complex. This complexity prevents IOTA from benefiting from existing security analysis tools that are designed to work with binary, and makes the code harder to read and understand. Another inefficiency is that transactions in IOTA are 10KB (in contrast, Bitcoin transactions are on average 600B), meaning that this is not well-suited to devices with limited storage, like those used for IoT, one of the developers’ primary use cases. The current IOTA tangle requires a trusted party (the coordinator) for security, suggesting that in its current form it’s not ready to run as a truly permissionless, decentralized system. Others have written about IOTA’s use of a trusted coordinator and asked about the incentive structure — whether users of their system have an incentive to converge the tangle if each acted selfishly.
… the fact that none of IOTA’s partners raised these concerns about a glaring vulnerability in a ~$2B cryptocurrency, or spoke about the other red flags, is worrisome.
Once again IOTA proves that due diligence is vital before making an investment decision.
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hmm that's interesting, I have no !dea about that though :o
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This is a typical example of fud...lol
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If this message is really true, then it has had little influence on the price of Iota so far.
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Little news and little impact. IOTA has market of trillions and promise is big with being only cryptocurrency of real world usage. I am in for IOTA.
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No one ever said that there was a signed partnership. IOTA is the only one with real life use cases.
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I don't think the partnerships announced by miota is fake because all the companies are big and existing companies. It is one of the ways that has kept miota within the 1st 10 top coins
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I do not personally believe IOTA partnerships are fake or else they wouldn't have come this far. I know it's a great coin with real life use cases and it's just a matter of time for it to be part of the great coins.