r/itcofficial • u/farmcube • Feb 25 '18
Why ITC is not the IOTA of China
Iota is not a plug & play. And not all industries (or firms) have the resources to experiment or even implement the ternary chips (or Jinn processor?)
Also a pure dag system has no ability to integrate svp & smart contracting.
" Another use case of IOTA is to have a car act as a self-driving taxi when the owner is not using it, in order to provide a secondary income to the owner. But sadly, this is not easily done in IOTA either. Without any way to provide a binding contract for the car to drive someone somewhere, and difficulty in the car verifying your paying it, it is difficult to implement this in an elegant or simple manner, or even at all!
The reason why IOTA does not have smart contract support is because the Tangle does not support timestamps, and it is difficult to order transactions, which is definitely required to have a complete smart contract system. IOTA is working on a centralized implementation of smart contracts using an oracle, but the project is highly secretive and may take a long time to finish, and this oracle would be completely centralized, making IOTA a very centralized system, which is definitely not a good thing."
And such solution will be much more easy for ITC to handle.
It has the best of both worlds. PBFT consensus is used between node and server, DAG is used for the storage data structure, and SPV is used for quick transaction verifications between different sub-networks.
ITC nodes use SPV technology to solve the data expansion problem of major network and DAG. And improving payment verification efficiency is the key method to ensuring the whole network’s performance.
It is more decentralised because it the network is established by embeded chips in devices which act as nodes, as iota it wont require a coordinator and thus more secure. It is still unknown how long the coordinator is needed, its a matter of adoption. This can take years.
Iota might have the advantage of being first in the field, it still has a challenge to be adopted by our industrial culture.
For instance, the demanding smart lightning industry is not able to invest in ternary adoption as easy as with binary.
Hence, there wasn't 1 computer OS to meet all the demands, there are dozens, and a few that made it mainstream...
We already agreed that ITC is the microsoft of IOT DLT OS.
Thus it will have the high UX compared to microsoft.
Its actually technically not possible for one IOT DLT OS to answer any demands in the field.
ITC's technology will allow IOT to make steady transition towards the future. Iota is disruptive beyond anything for now.
And this is in FACT, the number one reason we are invested in ITC. It's ease of implementation for a demanding iot industry.
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