Security and encryption... Post your questions here.

 Johnnysax good questions.  But Axial Control is a lot different that IOT, which basically a headless low powered CPU internal to a appliance, thermostat, routers, etc.  Most IOT is Linux (or Android) based due to open source and free of charge. 

Now the question I pose to you is what do you have that is sensitive that you would need additional security like two factor athentitcation?  Most hackers are looking for low hanging fruit, going for the ability to take over a IOT as a bot, or hack into a system that is valuable to them.   Now a hacker in theory could get into the cloud server, but you also can put on a local server password independent of the cloud service as additional layer of protection. 

There is always an inherent risk to anything on the Internet, ways to mitigate the risks to an acceptable level, or to remove them, you could completely disconnect, turn off your PC and put it in a block of concrete (the running joke of a secure PC), but that isn't practical. 

Even with the concern of cloud computing (C.L.O.U.D - China Loves Our Unclassified Data), the weakest link is the local PC in this situation, which is why we always are constantly patching.  I don't recall that the Axial Control asking for any identifying information other than a user name and password that links the moble client to the desktop client - used by lots of companies like Honeywell, Nest, etc. 

And what is the risk?  Someone could if they wanted to hack in and turn off the furnice in the middle of winter and freeze your pipes or turn your lights on and off - just like a virus writer can cause your PC to blow up by flashing the bios or making your hard drive crash by speeding up the RPM on the platters. 

I see it as you can keep the honest people honest by locking your front door, yet if you had a crook that wanted to kick down your door, he still can do that.  You put up a bigger door (at a higher cost to you), the same crook might not be wanting to get into your house, but if you had something that they reallly wanted, they could still compromise that heavy door (think battering ram).  So you get yourself a dog to supliment that door (two factor per say).  But they knock the door down and give your dog a steak?   Now you have to spend more money and get something else like an alarm or securtiy guard.  Point being you can spend as much as you want for protection to mitigate a risk (or threat), but if you don't have anything worth the risk of stealing (or making it worth the perceived risk of the thief verses the benefits) then they move on to the house that home owner hasn't locked the door.