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RE: IOTA - Software Bug Found

in #iota7 years ago

You have some great crypto insights and thanks so much for sharing them with us on Steem.

But...

Have you read the whitepaper these MIT techs released? Have you read the official responses from the IOTA team?

Their 'exploit' requires a user to download their compromised wallet software. If you're downloading random wallet software off the internet, some cryptographic hijinks it can then get away with are the last of your worries. It could just steal your private seed and take all your money.

Their 'exploit' is nothing of the sort. If you use official IOTA code on the tangle, before or after mid August, your assets are 100% cryptographically safe.

I don't know about the idea that this was simply a self-serving hit-piece by advisors to ZCash and the Paragon Foundation (IOITA competitors), but the authors did not disclose these vested interests and by MIT's own policy should have.

I don't have any vested interest beyond owning about 0.03BTC of IOTA and believing that their 0 transaction fee tangle is going to be the awesome future.

I think that this article and its endless, lazy reproduction without actually interogating the facts is just the same as the market explosion every time China release some news; really bad for our community and our ability to sell cryptocurrencies to the masses. We can do better than this.

https://satoshiwatch.com/coins/iota/in-depth/cryptographic-vulnerabilities-in-iota-a-biased-hit-piece/

https://medium.com/@mistywind/iota-cofounder-sergey-ivancheglo-aka-come-from-beyonds-responses-to-the-ongoing-fud-about-so-ea3afd51a79b