IOTA is designed to provide one solution that no other crypto does: efficient, secure, lightweight, real-time micro-transactions without fees.” It’s meant to work in synergy with these other platforms to form cohesion and symbiotic relationships. He also wrote: “IOTA should not be considered an alternative coin (altcoin) to existing cryptocurrencies such as Bitcoin, rather it is an extension of the growing blockchain ecosystem. The only difference is that it does away with the notion of blocks. Tangle’s more technical name is the Directed Acyclic Graph - and as Sønstebø explained in a blog post back in 2015, this technology aims to retain blockchain’s ability to execute secure transactions. IOTA claims that Tangle is faster and more efficient than typical blockchains used in cryptocurrencies. IOTA's key innovation is Tangle, a system of nodes used for confirming transactions. Well, as we alluded to a little earlier, the fact that it’s effectively a blockchainless blockchain is rather unusual to say the least. This inspired debate from various members of the cryptocurrency community including a constructive criticism from Vitalik Buterin and other members of the Ethereum community. IOTA's Sergey Ivancheglo posted a response to the investigation suggesting the vulnerability was previously known and intentionally included as a copy protection mechanism. Contact with the Neha Narula prior to this blog post inspired IOTA to temporarily switch from a cryptographic function of their own design known as Curl to the more standard Keccak (SHA-3). Neha Narula, Director of the Digital Currency Initiative at the MIT Media Lab, along with colleagues posted an investigation into cryptographic vulnerabilities in IOTA. The coordinator has been a source of discussion on decentralization for young distributed ledgers. The purpose of the coordinator is to provide a milestone checkpoint to resist against attacks on the network while it the network is young. IOTA runs a centralized close source Coordinator as announced in their blog post on transparency.
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