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RE: Brief Explanation of IOTA - The next Bitcoin?

in #crypto6 years ago

But wait. If the control lies with the users, and the IOT enabled smart devices, doesn't it simply make the IOTA Tangle more vulnerable to attacks?
As for Blockchains, Miners only dedicate the computing power required to create new blocks. The rest of the process is abstract, and is powered by the 256-bit Simple Hashing Algorithm and is handled by computers. There is no way to deviate off what the blockchain allows and have the user do something he wants to. Furthermore, blockchains are decentralised. That means that a user can't even get access to it even if they want to. Miners are only there to provide the processing power to create a new blockchain whenever required. Decentralisation also means the lacks of a Buffer Overflow, something which is essential to disruption of the Linked List based blockchain, and also a randomised memory allocation system which is again essential to any disruptions in the Blockchain.
I'm confused as to how a Blockchain can be disrupted then, since it doesn't even involve message passing between pointable sources.

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Yes!!! thats exactly the only things Im concerned with Tangle so far!

If i recall from the whitepaper, You can attack Tangle with 34% spam attack. But Iota has "Coordinates" an on-boarding mechanism to prevent 34% attack until network becomes matures and organics, and even if the attacker achieve 34% attack, the chances of successful manipulate the network is only 29% (still a pretty large number).

I used to think blockchain is great until everyone giving their power to mining pool where things could get worse ( eg: all pools combining their computing power to attack the network. )