One of world’s most respected provider of “unbiased” ratings for cryptocurrencies, ETFs, mutual funds and stocks has called IOTA (MIOTA) a decentralized cryptocurrency platform, saying it is one major thing affecting the project from being the most technologically advanced.
Weiss Ratings has recently been clamping down on some projects for their poor performances, its attack on IOTA came as a surprise to many in the space due to the project’s determination to revolutionize the tech world.
Although Weiss is not the first to brand IOTA decentralized, several analysts have done the same in the past, while some have not retracted their statements. The reason behind this condemnations is not farfetched.
For Or Against IOTA Coordinator?
IOTA coordinator, which analysts and enthusiasts say work centrally, and may be misused in the future for censorship or any other similar humiliations that may be seen as anti-blockchain technology –decentralization.
To some, there is need to audit the coordinator from time to time to get it clear that it is not for centralization. However, some are of different opinion, getting rid of the coordinator has been a major campaign for some times now.
While IOTA Coordinator determines the action of IOTA tangle, it also marks already confirmed transactions. A portion of those who stand stands for says IOTA can do without coordinator, since the it is for protection against 34% attacks.
Above may be true, IOTA is still viewed as a decentralized protocol because the coordinator is run and censored by IOTA Foundation.
As it stand now, Weiss condemnation of IOTA may make the platform shift from the centralization era to being decentralized. As Weiss puts it, “Too bad IOTA is centralized”.
IOTA Revolutionizing Standpoint
IOTA is one technology that cannot be looked down on in the space, with myriads of technology advancement, it is uneasy to say categorically that IOTA does not have a space in this tech era.
Earlier, Today’s Gazette Reported that IOTA (MIOTA) has around 150 projects in its ecosystem. Any moment from now, those projects may sprout out to disrupt the cryptocurrency space.