The Not So Dumb Way of Looking at the IOTA Network Hack


Crypto Twitter members like to talk down on competing blockchain or distributed ledger technology (DLT) projects.

https://twitter.com/DoveyWan/status/1228567364553175040

Dovey Wan, who is one of the biggest attention seekers on Crypto Twitter, says that IOTA Foundation members should not call their DLT platform a blockchain because they were forced to take down the main network node (that processes all transactions on the IOTA network) due to a recent hack of the Trinity wallet, leading to the theft of as much as $1.2 million in IOTA tokens.

At Crypto Writing School, we teach our students how to objectively and accurately evaluate different DLT and crypto projects. Dovey, as usual, is wrong because IOTA is under development and for the technology to become truly decentralized, it must first complete all critical phases of its development and adoption. Moreover, a platform does not have to be "decentralized" as long as it can offer quality  services that people actually want to use.

https://twitter.com/hasufl/status/1228044872671735808

Another overhyped commentator on Twitter Hasu points out (well after the hack happened) that IOTA is being hacked again. Guys just chill. These networks are highly technical and in their preliminary stages of development. These types of issues are a normal part of software development, I tlel my students.

Just go and look up all the awesome work the IOTA community has done and the notable strategic partnerships it has formed. Stop the FUD!

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Omar Faridi
Omar Faridi

I enjoy writing about all topics related to Bitcoin, Blockchain, and other cryptocurrencies. The topics that interest me most are crypto regulations, quantum resistant blockchains, Ethereum and Bitcoin Core development.


Crypto and Blockchain Education
Crypto and Blockchain Education

After publishing around 2,500 articles on Fintech, cryptocurrencies and distributed ledger technology, and having taught students of all age groups from elementary to Phd level, I bring to you my best global initiative ever: The Crypto Writing School, which helps people from all over the world learn about Bitcoin (BTC), Altcoins, and Blockchain technology. Expect more informative blogs posts and educational materials from consistently.

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