Sergey Ivancheglo, also recognized as Come-from-Beyond (CFB), is a pivotal figure in the realm of distributed ledger technology (DLT), particularly in applications geared towards the Internet of Things (IoT). His journey in the blockchain and cryptographic space spans several innovative projects, with his role in co-founding IOTA standing out as particularly influential.
Early Life and Educational Background
From an early age, Ivancheglo exhibited a keen interest in computer technology, beginning with video games. This initial passion evolved into a fascination with Massively Multiplayer Online Games (MMOGs) and the technologies behind Virtual and Augmented Reality. His academic pursuits followed this technological inclination, leading him to obtain a Bachelor of Science degree with a focus on electronics and artificial intelligence. This educational foundation equipped him with the skills necessary to navigate and innovate within the complex world of distributed computing.
Career Milestones
NXT: The Pioneer of Proof-of-Stake
One of Ivancheglo’s early significant contributions was the creation of NXT, a decentralized blockchain platform launched in November 2013. NXT is often celebrated as one of the first blockchain projects to implement a proof-of-stake algorithm. The platform introduced several groundbreaking features to the blockchain domain, such as an integrated asset exchange. Ivancheglo was instrumental in the development, conceptualization, and promotion of these features, establishing himself as a key figure within the NXT community.
IOTA: A New Framework for IoT
In 2015, Ivancheglo expanded his horizon by co-founding IOTA alongside David Sønstebø, Dominik Schiener, and Dr. Serguei Popov. The ambition behind IOTA was to create a scalable and transaction fee-free framework tailored for the IoT ecosystem. Ivancheglo was crucial in developing the technical aspects of IOTA’s innovative «Tangle» system, a novel approach differing from traditional blockchain architecture.
The path with IOTA, however, was not without its challenges. Ivancheglo faced several conflicts with the IOTA Foundation’s board, particularly surrounding governance issues and board appointments. These disputes peaked in 2018 and were publicized through various statements made by Ivancheglo regarding his disagreements with other board members, particularly concerning the distribution and management of IOTA tokens.
Departure from IOTA
In June 2019, Ivancheglo announced his departure from the IOTA Foundation. He cited a preference for a less structured environment as conducive to his best work and expressed his intentions to continue developing IOTA-related technology independently. His departure also highlighted his concerns over how his public statements were being used against him in the context of the IOTA Foundation.
Paracosm: Venturing into Virtual Realms
Expanding beyond traditional blockchain applications, Ivancheglo founded Paracosm, a platform aimed at developing a multi-dimensional gaming universe that combines augmented and virtual reality technologies. Leveraging his background in DLTs, the Paracosm platform integrates aspects of IOTA’s Tangle to enhance its backend infrastructure.
Jinn and Qubic: Expanding the Ecosystem
Parallel to his work with IOTA, Ivancheglo co-initiated the Jinn project with David Sønstebø, aimed at developing a new type of ternary hardware processor. This project also featured an early token crowd sale, showcasing Ivancheglo’s continuous innovation in the crypto space.
Furthermore, Ivancheglo played a significant role in reviving and integrating the Qubic project into the IOTA ecosystem. Originally announced in a BitcoinTalk forum thread in 2012 and later abandoned, the Qubic project under Ivancheglo’s guidance came to focus on quorum-based computations, including oracle machines, outsourced computations, and smart contracts.
Qubic: Revolutionizing Cryptocurrency Platforms
Prepare to explore Qubic, a trailblazing cryptocurrency platform that is setting new standards in the industry. Developed by Sergey Ivancheglo, the visionary behind significant projects like IOTA and NXT, Qubic is transforming how digital currencies operate with its advanced quorum-based computing (QBC) technology.
Sergey Ivancheglo and Core Technology of Qubic
At the heart of Qubic lies a powerful network of 676 Computors, tasked with executing complex smart contracts. The system enhances reliability by ensuring that a Quorum of over two-thirds (451 or more Computors) agrees on a result before it is finalized. This approach is a shift from the traditional energy-intensive mining processes seen in other cryptocurrencies, as Qubic employs a Useful Proof-of-Work system that applies mining efforts towards productive ends like AI training.
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Dynamic Participation and Reward System
Qubic introduces an innovative structure for participation where Candidates—participants not directly compensated—aid in AI training. A weekly performance evaluation, known as an «epoch,» assesses and ranks these Computors. The top 451 Computors are secured in their roles for the next cycle, while the rest are selected from a pool of Candidates and those with lower rankings.
The reward mechanism is equally groundbreaking, with each epoch disbursing 1 trillion Qubic Units (QUs). Rewards are strategically allocated, with underperforming Computors and Miners having a portion of their rewards burned to maintain economic balance. The Arbitrator, pivotal in managing AI training tasks, however, has no control over the aspects of smart contracts, voting, or QUs distribution.
Unique Features and Benefits
What sets Qubic apart is its zero-fee transfer system, a feature seldom found in other platforms. While smart contract executions do incur a commission, this fee is determined through a quorum-based vote by the Computors and is subsequently burned. This method serves as a regulatory mechanism for inflation and deflation, ensuring a stable economic environment.
Moreover, Qubic’s infrastructure supports direct execution of «bare metal» code, making it the platform of choice for running the fastest Turing-complete smart contracts in C++. Unlike platforms that rely on virtual machines, Qubic’s design maximizes computing power efficiency, facilitating the execution of smart contracts in just seconds.
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Conclusion
Sergey Ivancheglo’s career is marked by pioneering contributions to the blockchain and IoT spheres, with a particular focus on creating systems that integrate advanced technological frameworks with practical applications. His journey reflects a blend of innovation, conflict, and a relentless pursuit of technological advancement.
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