Your new post is loading...
On Friday, MIT Technology Review published an article on the cryptocurrency IOTA. However, we at the Media Lab have issues with the story. Like for « no fees transactions » : Bitcoin has miners who can perform the proof of work for you, while IOTA users do the proof of work on their own devices, per transaction. However, a Bitcoin user can also mine their own block to get their transactions accepted into the blockchain without paying fees. To put it another way, most people wouldn’t be interested in buying a refrigerator operated by a hand crank, even if the advertisement said “No electricity required!”
