The future of IOTA is discussed in a contradictory way. Co-founder Sergey Ivancheglo (SFB) believes that the desired decentralization will be abandoned. Vitalik Buterin, inventor of Ethereum, meanwhile also talked about IOTA.
At IOTA, light and shadow alternate these days. There is joy that Vitalik Buterin, founder of Ethereum (ETH), finds words of praise for IOTA. In an interview, Buterin cited IOTA’s concepts on challenges such as scalability, self-government (DAO), and digital identities as examples of how future issues for the crypto industry could be resolved. But Buterin also points out that decentralization remains the basis for the future development of the industry.
The highly respected Buterin indirectly hits the sore spot of IOTA. Because the removal of the central coordinator of the IOTA Tanglenet, announced for years under the title of “Coordicide”, is still pending. Co-founder Sergey Ivancheglo (SFB), who left IOTA in the litigation, even claims to have learned that Coordicide will be completely abandoned. to Twitter he referenced his own sources yesterday when posting the stinging message for IOTA. IOTA board member Navin Ramachandran immediately objected, accusing the BFC of lying. IOTA developer Hans Moog called Ivancheglo a “clown”. However, Ramachandran and Moog did not provide any information on when IOTA 2.0 aka Coordicide should finally go live.
Meanwhile, the massive sales of IOTA by the foundation continue to fuel fears that money for development work could run out on the way to Coordicide. twitter user This is not my code calls it a “red alert” because on Tuesday alone 950 Gi IOTA (worth around 160,000 euros) was transferred from the foundation’s wallet to the crypto exchange for sale. He is not alone in being outraged that the IOTA Foundation is causing price losses through its continued sales of token reserves. In addition, the IOTA Foundation owes a report on the apparently strained financial situation.
Conclusion: IOTA under pressure at the end of the year
The IOTA price curve is disappointing at the end of the year, a drop of 20% over the last seven days has pushed the price of MIOTA below $0.17. IOTA is therefore trading as low as it was in the spring of 2020, when a critical security breach in the official IOTA wallet led to the network being shut down for four weeks. The ability of IOTA to break free from the current crisis will also depend on the ability of the head of the foundation, Dominik Schiener, to realize the vision of Coordicide.