IOTA, an open source distributed ledger which aims to serve as a foundation for the Internet of Things [IoT] is creating a buzz in the market because of a Twitter post. The post also drew the attention of the IOTA Foundation’s Board of Directors, Ralf Rottmann, also the Founder of Grandcentrix.
A Twitterati posted a tweet claiming that ‘someone is stitching the side tangle to the main tangle’ leading to a break in the nodes’ ability to select tips.
Sarah Jamie Lewis, the Executive Director at Open Privacy posted:
“Currently the confirmed transaction ratio in iota is practically 0 because someone is stitching the side tangle to the main tangle and this apparently breaks regular nodes ability to select tips. Let’s just enjoy this moment.”
The Twitterati further says:
“Going further this seems to have taken every single iota peer offline… As seen by this screenshot of an IOTA peer manager someone left open to the internet (thanks shodan)”
Sarah continues to say that even after spot checks on a dozen nodes, there wasn’t any response to simple requests as well on getNodeInfo, irrespective of them being up.
To which, Ralf Rottmann, member of the IOTA Foundation Board of Directors said that some of the nodes are down probably because of the ‘Tangle DB growing too big for the available desk space’. He also said that IOTA is still working on the local snapshot feature which facilitates very low powered nodes and that IOTA has announced the next global snapshot.
The next global snapshot is scheduled on 9th July 2018 from 8:00 UTC to 15:00 UTC.
Raft Rottmann further added:
“People continually try to attack the tangle, and we learn from these attacks to make it more resilient over time. Remeber, IOTA is an early-stage project and these kinds of events are par for the course. As long as someone can get such a large percentage of hash power, they can do whatever they like. This is true for any DLT, and the exact reason we have the coordinator ensuring that tokens are safe during this early period.”
C_Ruhf, a Twitterati says:
“I usually don’t indulge in epicaricacy or Schadenfreude, but I make an exception for the IOTA team. Never seen a group of devs more pretentious and arrogant than them. They fully deserve to fail.”
Andreas Eder, another Twitterati says:
“My nodes are fine and running! Down nodes are mainly due to lack of disk space, but those neighbours did inform me in advance….thats what I call community”
Josh Wrede says:
“Lol darn I hate when my tangles get tangled. I feel like this is a really big deal and if it wasn’t Friday night I’m US/middle of night Europe it would be blowing up. IOTA is smart with this pre-weekend news dump (sarcasm font I sadly need to use on Twitter) #untanglemytangles”
James Sutton says:
“The solid red circles are my confirmed spammer transactions. The white middle red circles are my non-confirmed that just hit the Tangle. So Tangle is working, the side Tangle isn’t affecting the main Tangle. Yes, many nodes are down, but many are working showing my confirmed tx”
Subscribe to AMBCrypto’s Newsletter
Bitcoin [BTC/USD] Price Analysis: Bears take over coin as bulls lose momentum
Bitcoin [BTC] fraud main suspect Alexander Vinnik files request for extradition to Russia
EOS, Tron, and Ethereum are the top-three public chains, says CCID Research Institute
XRP receives another boost as Canadian cryptocurrency exchange Bitbuy adds coin to its roster
Ethereum [ETH]’s Vitalik Buterin says he will lose certain amount of hope for humanity if Tron overtook Ethereum
Flash hike: Qtum skyrockets by over 36% in 1-hour after Apple Pay & Samsung Pay announcement
Craig Wright’s Twitter account suspended after threatening harassment and libel lawsuits
Qtum partnership with Zeus enables users to trade cryptocurrency on Apple Pay, Samsung Pay
Bitcoin Cash [BCH] developers introduce privacy-protecting lightweight protocol, Neutrino
Bitcoin Cash [BCH] Price Analysis: Bears return as market correction precipitates decline
Bitcoin [BTC]: Dubai gets its first ATM; users can acquire BTC using any fiat currency
CFTC Commissioner: Regulated cryptocurrency market could attract institutional investors
Bitmain’s overproduction of ASIC miners led to lower mining profits, claims miner
Binance is going country-hunting in search of their ‘regulatory paradise,’ says report