Hans Moog is one of the most well-known developers at IOTA. In a blog post, he looks back on the last few years at IOTA and paints an at times chaotic internal picture, which could also have led to failure.
Among supporters of IOTA, an insider report by the official developer Hans Moog is causing worry lines. In his blog post, Moog admits with unusual frankness that there were huge differences between the IOTA Foundation’s external image and its internal situation over the years. The central question here, he says, is: How can IOTA’s Tanglenet be converted from a solution with a central coordinator to a decentralized system? Investors and the public were always told that this challenge was manageable and feasible under the project name Coordicide. But internally at the IOTA Foundation, no one had a clear idea of how to accomplish Coordicide, Moog writes. Around 2019, Coordicide was therefore internally on the brink of extinction, despite all the public slogans.
Moog’s contribution is intended to address criticism that accuses the IOTA Foundation of repeatedly making false promises. He himself had become aware of IOTA in 2017 because he was looking for an alternative to Bitcoin. Even then, he said, he had sought contact with IOTA co-founder CfB (Sergey Ivancheglo) as a hacker and developer to better understand IOTA’s technological plans for the future. But CfB failed to provide answers, and Moog first began to feel that problems with IOTA Coordicide’s development were far more severe than anticipated. So Moog considered writing off IOTA. But then Moog was offered a position on the development team at the IOTA Foundation. He accepted – and was once again overwhelmed by reality.
For for all the official optimism from 2018 onward that Coordicide would be up and running in 2019 or 2020 at the latest, Moog’s account left little to nothing in reality. CfB would have had technological approaches for Coordicide in mind. But working with CfB had been overly complicated in practice, he said, and initial tests of potential solutions for Coordicde at IOTA had only raised new questions. CfB famously left the IOTA Foundation in mid-2019. Since then, Moog has been pulling the strings for Coordicide at the IOTA Foundation.
IOTA 2.0 – the promise of a decentralized Tanglenet
If Moog is to be believed, a decentralized IOTA 2.0 is no longer a pipe dream. With Pollen as the first test for Coordicide since mid-2020 and the public DevNet since June 2021, decisive prerequisites have been met. Outstanding issues would be resolved with Honey as the final testnet for Coordicide at IOTA, Moog believes. However, Moog does not want to give a forecast for a completion date for Coordicide and thus follows the new course of the IOTA Foundation to do without concrete time schedules.
Conclusion: Credibility of the IOTA Foundation severely damaged
In the comments on Moog’s unsparing self-criticism, respect for the decision to end the myth-making about Coordicide prevails. But the high-profile IOTA critic Hund judges via Twitter: Moog’s contribution could turn out to be one of the most destructive examples of the IOTA Foundation’s communication policy. That’s because in Moog’s attempt to explain his own mistakes, he debunked official versions put forward by IOTA CEO Dominik Schiener about Coordicide’s years-long delays, he said. Hund has also compiled comments from investors who feel they have been taken for a ride by the IOTA Foundation on Coordicide.
What is clear: IOTA will only have future prospects as a decentralized ecosystem. While IOTA used to be one of the ten most important cryptocurrencies worldwide, the altcoin with a market capitalization of still about 2 billion US dollars has slipped far down the charts and must fear to remain in the top 50. Competing projects have overtaken IOTA technologically, which is also reflected in the favorability of investors. With the damaged credibility of the IOTA Foundation in mind, IOTA must prepare to read progress reports even more critically than before. And those who carefully analyze Moog’s comments will conclude: The launch of IOTA 2.0 aka Coordicide repeatedly promised by Schiener for 2021 is most likely wishful thinking. Thus, IOTA is in danger of falling even further behind other projects in terms of its technological development.
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