Quoted from #tanglemath
"Hash power in bitcoin -> competition for a block
Hash power in IOTA -> competition for broadcast priority"
"Hash power in IOTA is not a global, but an edge phenomenon"
"Basically for iota to be secure it needs that no group of adversaries have "omni-presence" meaning their node or set of nodes are well distributed throughout the mesh network .. and they have significant computer power to issue more transactions and have them broadcasted far and wide throughout the network such that they overpower the rest of the network. A single node with all the hash power in the world would not be helpful"
"Indeed, a single node with all the hash power in the world would self-drown"
"Think about hash power as purely a mechanism to prevent a single node from drowning the network in its own transactions"
"Limited bandwidth is IoT disadvantage. IOTA uses it for own benefit"