IOTA co-founder quits crypto, dumps MIOTA holdings

IOTA co-founder quits crypto, dumps MIOTA holdings

One of the founders of IOTA, an open-source distributed ledger protocol, has sold off all of his tokens and announced that he is quitting crypto.

Sergey Ivancheglo, the co-founder of the project and former member of the IOTA Foundation board of directors, made the announcement in an AMA (Ask Me Anything) on Discord.

Asked why he sold off his MIOTA holdings, Ivancheglo said that he had done it to “avoid the conflict of interest when working on current projects.”

While he did not elaborate on what those current projects might be, he did confirm that he would continue to work on Qubic and Aigarth. Qubic is a quorum-based computational protocol that utilizes IOTA to build oracles and smart contracts, while Aigarth is an AI-software built on top of it.

Ivancheglo, better known by some as Come-from-Beyond on Discord, confirmed the selloff of his tokens on in a tweet wherein he also announced his withdrawal from cryptocurrency projects altogether. Today is my last day of working on cryptocurrencies. I don’t own personal cryptocoins anymore. My projects use #IOTA which is the best distributed registry technology to date. — Come-from-Beyond (@c___f___b) November 7, 2019 It is unclear which came first, the Discord AMA or the Twitter announcement. Ivancheglo’s departure from IOTA Foundation

Ivancheglo has been working as an independent developer for IOTA since he resigned from his position on the board of directors of the IOTA Foundation in June of this year.

According to IOTA co-founder David Sønstebø, Ivancheglo, who had served on the […]