The post IOTA Founder Highlights Real-World Successes, Rejects ‘Token Casino’ Label appeared on BitcoinEthereumNews.com.

IOTA founder Dominik Schiener criticized projects prioritizing short-term profits, accusing some founders of exploiting retail investors and abandoning decentralization principles. He contrasted this with IOTA’s long-term commitment to real-world use cases and enterprise adoption as a regulated German non-profit foundation. IOTA founder Dominik Schiener has recently addressed criticism which noted that the project hasn’t seen enough success in the past few years except for printing billion tokens. Schiener than listed the list of accomplishments by IOTA such as RWA tokenization, Digital product passports, building EU’s blockchain infrastructure, and much more. Following the announcement of Aptos founder Mo Shaikh’s exit, IOTA founder Dominik Schiener slammed the project stating that the basic goal was only to extract maximum value from retail investors and pump the token so that founders can exit. In a sharp-worded message, Schiener wrote: “These people don’t care about decentralization, they don’t care about creating value or making their projects a long-term success. They just care about making money for themselves and are willing to do so at all cost. These founders are tourists to our community”. However, one user on the X platform shared his criticism stating that as the founder of the IOTA Foundation, Schiener has done nothing much but print a billion coins the last year “after not delivering anything for 7 years”. “You’ve been centralized your entire existence,” added the users. Dominik Schiener, co-founder of IOTA, has pushed back against criticism regarding the project’s progress, asserting that IOTA has consistently focused on real-world adoption rather than speculative hype. He wrote: “Only someone stuck with a 2017 view of IOTA would dare to say we haven’t delivered anything. The big difference with IOTA is that we are one of the few projects that actually dared to put in the challenging work on real-world adoption use cases.”…

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Filed under: News - @ December 22, 2024 9:25 pm