In July last year, researchers from the Massachusetts Institute of Technology (MIT) has discovered a vulnerability in the code IOTA.
IOTA is the 10th of the capitalization of cryptocurrency with a market capitalization of 5 billion, but it is unlike most does not use as the basis of blockchain technology. For example, IOTA used own algorithm of Curl.
In July last year, Ethan Heilman (Ethan Heilman), a researcher of the digital currency initiative at MIT, said the team IOTA via email that he and his colleagues at mit have discovered a “serious cryptographic flaws” with the current implementation of Curl in IOTA.
In August 2017, the year the team replaced the IOTA algorithm on Keccak Curl. But their reaction to the discovered vulnerabilities was not adequate, according to critics.
As noted after the popular cryptocurrency investment Twitter account “360Trader” he will never buy IOTA, adding: “When cryptographers say to all to go … ”
First, experimental approaches are often not immediately work. Second, startups must be sufficiently transparent. However, on the one hand, the cryptocurrency is subject to serious criticism, the other, her team intends to respond to this in a legal manner.