Ask HN: Does a centralized supply coin like IOTA have any benefits at all?

2 pointsrobertAngst1 comment

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?

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They advertise themselves a permissionless blockchain ledger with no fees.

I 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.

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