IOTA - rebuilt from the ground up

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I read about this a few weeks back, incredible what hype did there.

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It still sounds pretty hypey

The IOTA Foundation employs about 140 people today. Its funds consist of what Schiener referred to as the Treasury – IOTA tokens received as a donation. The IOTA Foundation is also funded by research grants and is looking into setting up for-profit initiatives together with its corporate partners, in order to achieve financial independence.

I remember when I was looking for evidence of those corporate partnerships a couple of years back (BMW and Bosch IIRC) and I couldn’t find anything apart from IOTA’s claims. The Dell one seems real but I’m not sure about the scale. I wonder what those 140 people do all day?

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Yes, it’s curious, it seems they created a monster and will now they will build a better blockchain? I cannot get a bead on this one.

Hmm…is this more a rebuild or a rebrand, I wonder…

It’s certainly a rebuild by the looks of it, what I have read they talk about bad tech and made up stuff, like an AI wrote the hash algo, using ternary instead of binary etc. The tangle broke in an irreparable way and they needed central servers. So a lot to fix there, but their hype was incredible, listed on exchanges everywhere and with a very supportive community (a bit toxic to outsiders or critics).

Overall an interesting project this one in many ways, but none technical from what I have seen so far (I have only a limited view of their tech tho, so there could be snippets of magic we miss).

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This is very true. I had business devs from that project hounding me on a weekly basis back in 2018/19 to try to kickstart a project in conjunction with the day job. It was too much, to be honest.

I wish them well, but this should serve as another example that the challenges of making DLT relevant and effective are no small thing.

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