Original Post – https://www.cryptocipher.net/2018/01/11/iota-wednesdays-make-iota-foundations-responses-dci-mit-criticism-clearing-air/
All Credits to cryptocipher
On January 7th of the new year, 2018, the IOTA Foundation made an official response to the Digital Currencies Initiative at MIT Media Lab’s criticism. The DCI has been ongoing in their comments in regards to many of IOTAs technological aspects; such as the structure, the networks stability as well as security measures. It wasn’t until recently that the IOTA Foundation responded to the DCIs newest comments surrounding the integrity of the IOTA team when announcing partnerships as well as the premise of “feeless transactions.” The IOTA team promptly responded in a neutral way pointing out that the majority of their concerns can be attributed to misconceptions and falsified rumors. It is stated by the foundation that security is of the utmost importance to the team, and they have made every effort to clear up any misconceptions.
DCI stated that:
IOTA’s relationships with top-tier companies continue to be nebulous. In the Technology Review article, Orcutt linked to a November 28, 2017, blog post from IOTA, which gave the perception that Microsoft was a partner in the marketplace. However, after a flurry of media reports making this claim, IOTA corrected their relationship status with top-tier companies like Microsoft, Cisco, and Huawei in a blog post dated December 16. That the MIT Tech Review story links to IOTA’s initial blog post instead of the later version is misleading.
The IOTA Foundation responded summed it all up with the following statement:
To be absolutely clear: at no point was a formal corporate partnership implied either directly or indirectly in any post, statement, or press release issued by the IOTA Foundation.
As highly regarded the Massachusetts Institute Technology is, the DCI has little to no affiliation with the institute and is apparently using their name to provide their research with a more academic “feel.” Even though MIT is very respected, that does not mean we should take what the DCI at the Media Lab says seriously. As always one should perform their own research and dive into the whitepaper, questionnaires, and community before letting an academic media outlet dictate your decisions. The DCI is clearly shilling against IOTA for whatever reason; they refuse even to provide exploitative code that illustrates their claims surrounding IOTAs security and vulnerability. Even after several emails of the IOTA trying to reach out. Read the final email here.
Below you can find more responses from the developers clearing up any issue that has brought up with IOTA within the last months:
- Sergey Ivancheglo’s email correspondence and follow-up to the DCI Report (July — September, 2017)
- David Sønstebø’s initial response to the DCI Report (September 7, 2017)
- Sergey’s response to a community member on Reddit (October, 2017)
- Dominik Schiener’s response to a TNW article questioning the relationship between IOTA and Microsoft (December 16, 2017)
IOTA’s Developers have been very vocal in the community and have been continuously emphasizing issues that not only affect their coin’s price but others as well. Co-founder Dominik Schiener tweeted out in regards to the fact that positive posts regarding IOTA on the /r/cryptocurrency thread have been censored. His direct statement, “may the censorship and market manipulation of /r/cryptocurrency never stop. Thanks, @reddit”, followed by photos of censored posts, shows the frustration within the IOTA Foundations team. Dom also spoke out on the $XVG FUD scandal that happened before the New Year, offering to fund legal action against the culprit.
IOTA and have drastically improved the way they are dealing with the community and issues that arise. Whether it be issues with the tech or problems with other developers/coders, Dom and David have changed their approach and have instilled confidence in those who can look past the “vaporware” and other “silly” FUD being spread. There is clearly a conflict of interest going on between IOTA and other cryptocurrencies, especially since IOTA disrupts the orthodox blockchain “mining” system.
IOTA has struggled to stay about $4.00 USD after reaching an ATH of around $6.00 USD. They are continually working to get rid of the kinks in their wallet software and getting the dedicated Internet of Things hardware up and running within the Tangle, which they believe will happen this quarter. For these reasons, we think IOTA will finally surpass their former price of almost $6.00 USD when people are capable of seeing what their software can do. Although Microsoft and other major companies in that are participating in the IoT may not be “partners,” it is still worth noting that these companies are at least involved in this so-called “vaporware.”
Aside from all the negativity surrounding the IOTA team and the Foundation we can still look forward to a big 2018 year. The “Trinity” wallet has plans for being released this first quarter of January as well as the mobile app wallet. Not only that but the team’s pride and joy, “Q” will most likely be making its mark in the IoT world this quarter as well. For those who don’t know “Q” is speculated to be the hardware processor units that will allow for IOTA to be run in between devices or machines, therefore, creating an “Internet of Things.” “Q” is said to be created by Jinn Labs who has close ties with the IOTA team, you can read more here. With those three things about to hit the crypto world, we can surely see a price increase as well as some lost faith restored back into IOTA.