IOTA, the very first distributed ledger protocol that may well surpass Blockchain through its core invention "Tangle", may just fall short of a secure network. This is due to the unstable equilibrium of the system which can leave it open for attack by selfish non-malicious actors.😕
##How to hack IOTA?🤓🤓🤓🤓
I'd create some 100s of slack accounts and spend my day in the in my neighbor's channel connecting with anyone who will approve. This will allow for the building of a huge network of peers all of whom will confide "trust" in me. In addition; I would create a website that people can go to to peer with me and also share it in the channel. Furthermore; the use of SEO would make it possible for people googling for neighbors to easily find me. With IOTA's current system it is not too difficult for me to become largely connected which will allow me to invalidate the global mesh network .😲
Their current solution of finding peers using the slack channel is just a terrible UX for peer discovery and does not imply any trust.😞
As of now, it is unclear 🤔 whether they have found a way to solve this web trust problem. I'm sure they are working on it though. ☺
IOTA can however prove to be a powerful technology for long-term hold if they deliver on their promises.
Lets see them solve that web trust issue! 😝😜