In a recent series of tweets, a popular cryptocurrency, IOTA and its community have been called toxic by the director of the Open Privacy Research Society. Erinn Atwater, who is a security PhD candidate at the University of Waterloo in Canada posted the tweets about the non-blockchain cryptocurrency on July 10. According to her tweets, she spent a week reading about IOTA to put forward a “brief summary of conclusions.Source
For those aren’t aware IOTA is different from most of the cryptocurrencies because it doesn’t use a blockchain. It uses a different technique known as Tangle. There are no transaction fees in this system. However, users need to send units of IOTA. One will have to allow to process their wallet program and confirm two other transactions (means of paying for own transaction). By this process, the transactions are not only free but also safely protected from spam attacks.
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IOTA [MIOTA] Basics for Beginners