MIT Criticizes IOTA: “Gaping Hole in its Software” and Deceptive Marketing
On December 20, MIT Media and the MIT Digital Currency Initiative (DCI) issued a public statement written by DCI Director Joi Ito, refuting an article published by the institution’s own MIT Technology Review about IOTA’s potential to outperform bitcoin.
MIT DCI Criticizes IOTA
On December 14, MIT Technology Review’s Mike Orcutt published an article entitled “A Cryptocurrency Without a Blockchain Has Been Built to Outperform Bitcoin.” In it, Orcutt introduced various works and partnerships IOTA has led throughout 2017 and the technical intricacies of the network.
Specifically, Orcutt’s article delved into the non-blockchain platform of IOTA and how the elimination of the blockchain technology in a cryptocurrency can maximize scaling.
However, within a week of the article’s publication, MIT Media, DCI, and Joi Ito released a column to refute the reporting of MIT…
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