Ask HN: Does a centralized supply coin like IOTA have any benefits at all?
Maybe I cannot picture the usecase, but my understanding is that IOTA is used to track data that a company themselves submit.
There is the obvious issue of GIGO, and makes IOTA feel like its literally a write only database.
Am I missing something? Can anyone find any purpose this could be used?
1 comment
[ 4.2 ms ] story [ 11.6 ms ] threadI haven't looked much into their technology but assuming it holds up one possible use case is un-reversible data storage.
What I mean by that is if I commit some data to the network. It gets passed to all nodes who keep a copy. The transaction that created the data has signatures so everyone knows it's me creating that data. No-one can overwrite that data.
You can do the same on most crypto currency blockchains. i.e. put data in transactions.