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Egger Mielberg is a mathematician, bioengineer, software developer, and the CEO & Founder of Arllecta. We sat down with him for an interview about his crypto project, his experience and background, and much more.

1. What does your company Arllecta do?

Our company began its activities with the advent of a new mathematical theory for artificial intelligence that we created. We named it Sense Theory.

Several years of our research in search of solutions to such key problems in the field of creating real AI as identifying basic knowledge and forming new knowledge, led us to the conclusion that current traditional mathematics does not have the appropriate logical tools that could work with such important concepts for AI as meaning and self-awareness. This is how such important concepts in our new theory as semantic or sense function, semantic or sense derivative and other semantic concepts and definitions were born.

After several months of testing in terms of the search algorithm we created by meaning, we received a very high-quality search result that bypassed the existing search solutions of large IT giants by an order of magnitude. After this, we decided to launch several products in the field of AI using exclusively our own algorithms as the base ones in our products.

This is how products such as speechllect – speech recognition and synthesis, medzard – diagnostic system, senseprofile – speech analytics of meetings and others appeared.

• What is your background? What is your specialization?

Already at the age of 16, I was interested in problems that could not be solved by the greatest minds of mankind. At the age of 17, I actively began to study mathematical analysis and methods for solving incorrectly formulated mathematical problems. Then I realized that in mathematics there are many problems that have not had their solution for hundreds of years. This encouraged me to enter the Faculty of Mechanics and Mathematics at the European State University. That’s how I became a mathematician.

After graduating from university, I was invited to posgraduate school at the department of applied mathematics without exams. Additionally, I was invited to the Department of Information Technology as a senior lecturer. After a year of teaching, I created two fully innovative courses for university students in Calculus and the C++ programming language.

In 2010, while working in one of the American companies developing complex analytical diagnostic software products for medicine, I decided to write the core of a search system that would bypass the Google project in terms of the quality of searching for relevant information. After a year and a half of work, part of the search algorithms was sold to a European search project.

Working as one of our scientists in the field of medicine, I found the implementation of my mathematical algorithms in the direction of early diagnosis of diseases and methods for quickly searching for energy profiles of chemical compounds for the synthesis of new drugs. After this, we began research in the field of longevity since the problems in this area are perhaps the most incredibly complex and require great talent to solve.

• Why did you decide to create the SenseChain project and what is it about?

The main reason that made me come up with the SenseChain project is the basic principles of operation of the current global financial system, or rather the consequences to which this system leads, or rather the economic consequences that have already been described many times and have a cyclical nature of repetition.

The facts have become obvious that a person, as a biological species capable of self-education, should not spend the overwhelming time of his entire life earning monetary assets for existence on this planet. The key here is “capable of self-education.” In our opinion, it is precisely the artificially created barriers of the current financial system that do not allow a person who wants to improve their knowledge in the development of technologies in various fields of science and business.

At the current time, to eliminate these barriers, we see the creation of a global unified decentralized network in terms of eliminating the influence of its individual participants on its performance. However, simply creating a decentralized network will not eliminate these barriers and a strong economic model is needed here, as for a full-fledged large state.

This is how SenseChain technology was born.

The SenseChain in our context is a sense-to-sense algorithm based technology.

The four main characteristics of the SenseChain project are:

• A new digital economic model implemented on the basis of sense business contracts.
• A Sense-To-Sense algorithm realized. It is an revolutionary sense-focused method of searching a meaning point between a millions of objects of any kind and type. 
• A new financial digital model based on a digital coin secured by the time spent by network participants.
• Native coin (SC) – equivalent to job hours (JH);

Stability of the native coin rate (minimum job rate): 1SC = 1JH = $10

One of the main goals of the SenseChain is to unite the people of our planet into one big digital family, giving people the opportunity to earn money and exchange experiences from different countries and to speed up technological progress as much as possible for the benefit of a comfortable and safe life for each of its members.

The main and fundamental difference between SenseChain and any other crypto projects is the implementation of its own paradigm of the main asset in the form of user hours spent and the realized economy. Also, it should be especially noted that SenseChain is not a pure crypto project, it is primarily an IT project with partial implementation of crypto characteristic of the crypto industry. Finally, SenseChain uses its own main network with own native digital currency (coin) – SenseCoin (SC).

• What is sense coin and how is it different from bitcoin?

In simple words, Sense Coins are the hours spent by a network participant to fulfill a certain sense contract. That is, every Sense Coin

economically secured by the actual spent lifetime of a real person.

In other words, behind each Sense Coin there is work performed under a sense contract for a certain lived time.

In comparison with Bitcoin, the author of which defines it as a chain of digital signatures and the emission of which is associated with the iterative search for a certain hash value, Sense Coin is not such a digital surrogate that cannot, by its nature, form the economic value of the object or subject being used.

Sense Coin is a full-fledged digital currency with its established nominal value, which is economically justified by a specific executed sense contract.

• Do you believe in the further development of any current project or several projects in the crypto industry?

At the current time in the crypto industry, almost all projects without exception have as their main goal to collect the maximum possible amount of money from users without giving the most important thing, in my opinion, long-term stability in earnings.

And this is not a problem of the creators of such projects, this is a derivative, again I want to repeat, of a weak and not far-sighted global financial system. Current technologies would not exist without the hard work of the best minds in our world. But to move forward in creating technologies that are unique and extremely necessary for humanity, it is necessary to create conditions for creation. These conditions are to provide comfortable conditions for everyone who has the desire to try to explore and create something that is very useful and necessary for all people. And monetary compensation as such should be paid for such work without any technology-incompetent supervisory authorities.

The incentive medium, fiat money, crypto currency, product tokens and other digital derivatives should play a secondary role in any work or scientific research.

And if you look at the top five liquidity projects in the crypto industry, it becomes obvious that all these projects, without exception, introduce more and more new programs or subprojects for users with only one goal – to show the bull rise of their coin or token to the skies. In other words, the creators of the projects offer nothing more than speculation.

I see the future of the crypto industry, at the current time, only if real decentralized economic and financial instruments are implemented, which will provide economic liquidity through real business contracts. I am for a decentralized economy!

• How do you combine your work on the medical project, Longevity Research, with your other AI projects?

Research in the field of longevity did not arise out of nowhere and is a logical continuation of the implementation of the algorithms of our theory Sense Theory in various fields. Thus, based on the algorithms of the Sense Theory, a hematological preventive method for early diagnosis of diseases was formulated and described in two technological articles. After analytical studies of the practical application of theory algorithms on anonymized data of patients diagnosed with myocardial infarction, we concluded that these algorithms have great potential in any of the most complex areas of early diagnosis. First, of course, we focused on especially dangerous diseases that in most cases lead to death.

In 2024, I will complete my master’s degree at the Department of Biotechnology of the European National Research Medical University. I deliberately entered this university for the practical implementation of my methods both in the field of oncology and in the field of longevity.

So, after an additional year of painstaking analysis, we concluded that without finding the true causes of cancer cells, we will not be able to create an elixir of youth, since the biochemical processes taking place inside a single human organ, or rather, inside individual cells, have their own specifics.

It became obvious to us that by creating the elixir of youth and not creating a cure for eliminating the causes leading to the appearance of cancer cells, we may find ourselves in a situation where, for example, an engineer who created a high-speed car forgot to create a braking system.

• Do you really believe that among humanity there can be people extremely smart enough to create a real elixir of youth?

We believe, no, we are even 100% convinced that all restrictions without exception are born in our heads. The reasons for this are different. The main reason is the lack of knowledge and the ability to look at a task or problem from different angles using the knowledge of different sciences.

In the current world of digital technology, the main obstacle to creating something new and innovative is the lack of information hygiene. The overwhelming number of people on our planet simply do not know how to conduct a qualitative analysis of the data they receive on the Internet. Our slogan is “Analyze more, ask less.”

Bybit, the world’s third-largest cryptocurrency exchange by trading volume, has taken a significant stride in the DeFi (Decentralized Finance) revolution by introducing Bybit Web3 Swap. This upgraded platform not only meets the evolving demand for token swapping but also pushes the industry forward by providing users with a secure and user-friendly environment for swapping tokens across various blockchain networks.

Ben Zhou, the co-founder and CEO of Bybit, stated, “Our mission at Bybit has always been to bridge the gap between traditional finance and the power of DeFi. With Bybit Web3 Swap, we’re fulfilling that promise by creating a simpler, user-friendly experience that caters to both experienced DEX (Decentralized Exchange) users and newcomers to the Web3 space.”

Bybit Web3 Swap, a crucial component of the #BybitWeb3 initiative, empowers users to perform decentralized token exchanges across multiple blockchain networks. This opens up opportunities for users to access a wide range of tokens, liquidity pools, and engage in activities such as yield farming and staking.

Key Features of Bybit Web3 Swap:

1. Expanded Token Support: Bybit Web3 now supports over 2,000 tokens, providing users with a diverse selection for seamless and diversified token swapping.
2. Intuitive Token Discovery: Users looking for tokens not listed on Bybit will be seamlessly redirected to Bybit Web3 Swap, where they can easily acquire the desired tokens.
3. Cross-Chain Asset Bridge: Bybit Web3 Swap facilitates the transfer of assets between Ethereum (ETH), Binance Smart Chain (BSC), Polygon, Arbitrum, and other mainstream Ethereum Virtual Machine (EVM) public chains, enhancing platform versatility and user convenience.
4. Streamlined One-Step Swap Process: Bybit Web3 Swap simplifies the user experience by combining approval and swap steps into a single seamless operation, making token swaps effortless.

Additional Benefits:

• No KYC Required: Bybit Web3 Swap stands out by eliminating the need for Know Your Customer (KYC) procedures, prioritizing user privacy and convenience.
• High Liquidity Access: Users can access the highest liquidity available in the market, ensuring optimal token swap rates across various decentralized exchanges (DEXs).
• On-Chain Transparency: All transactions on Bybit Web3 Swap are executed on-chain, providing full visibility into fund flows and trading mechanisms, instilling user confidence.

Bybit remains committed to staying at the forefront of innovation by continuously expanding the compatibility of Bybit Web3 Swap.

Upcoming integrations include Polygon zkEVM, zkSync, StarkNet, and Mantle Network, ensuring that users have access to the latest and most advanced blockchain technologies.

Wise Lending, a Web3 lending app and yield aggregator, experienced a significant breach on January 12, resulting in the theft of 170 Ether (ETH), currently valued at $440,000.

This incident has been confirmed by multiple security experts, who suspect that the attacker may have exploited an oracle price using a flash loan.

The attack was recorded on the blockchain at 7:29 pm UTC, with the perpetrator utilizing an unverified contract featuring an address ending in “d82c” to siphon off the funds.

The attacker also moved various tokens into this contract, including $9,000 in USD Coin (USDC), $2,000 in Tether (USDT), $5,000 in Dai (DAI), 18.51 Wrapped Ether (WETH), valued at $47,694, and various tokens linked to Pendle Finance.

As part of the exploit, the attacker borrowed 1,110 Lido Staked Ether (stETH) tokens, which amounted to $2.9 million, from the Aave lending protocol.

Flash loans, commonly employed by exploiters, are used to manipulate oracle prices, enabling such attacks.

A pseudonymous blockchain security researcher known as Spreek first alerted the crypto community to the Wise Lending attack, posting on X (formerly Twitter), stating, “Looks like Wise Lending exploited for ~170 ETH.”

READ MORE: DeRec Alliance Unveils Ambitious Plan for Decentralized Digital Asset Recovery System

Spreek also speculated in a follow-up post that the vulnerability might be connected to a new Pendle Finance derivative token.

Another security researcher, Officer’s Notes, commented on the situation, remarking, “Another day, another exploit.”

Officer’s Notes suggested that the vulnerability may have been triggered by a 7% price swing between stETH and ETH within a particular pool, possibly due to an AAVE v2 stETH flash loan.

Although 2024 has just begun, the decentralized finance (DeFi) sector has already suffered losses of at least $5 million due to various exploits.

On January 3, Radiant Capital incurred losses exceeding $4.5 million, followed by liquidity manager Gamma Protocol losing over $400,000 to an exploit the next day.

In the previous year, 2023, the crypto industry witnessed losses totaling over $1.8 billion as a result of hacks, scams, and exploits, as reported by blockchain security platform Certik.

These incidents underscore the ongoing challenges and security concerns within the crypto space.

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