Today we would like to introduce Credits Chief Technological Officer Dmitry Chernyshev.
Dmitry joined us in March of 2018, and in his current position, Dmitry is developing and supporting the blockchain.
What have you been doing before blockchain development, and how did you start developing at all?
I am a professional mathematician, and before starting working with blockchain, I was occupied with an academic career in the Maths discipline. The problems I was working on included solving differential equations using numerical methods. Such equations are used in science and highly technical industries.
As for software development, I first tried to develop in my university years and then came back to this field later.How is mathematical knowledge applied to the blockchain?
Well, blockchain is based on cryptography, and cryptography in its essence is a formula. So maths is cryptography but not expressed in numerical methods. The first task I had in developing blockchain was to build the system based on mathematical methods/approaches. Today Credits blockchain is going through the next stage of its development and that is expansion.
Which problems are you solving now, and could you please describe the process of blockchain support in general terms?
Well, since the blockchain is built and live, the protocol is a system by itself. It keeps changing and growing. For example, the number of nodes and the amount of information passed and written each day is increasing. So the system is growing and spreading, and in this process, we are looking at how we can improve its efficiency further.
In general terms, the process consists of observing, finding a problem or some metric that can be improved, finding a solution, testing it internally, then on TestNet, on MainNet, and successfully loading it to the ecosystem. It is a creative, interesting process, and you can always find some new points for improvement/polishing.
As of now, when the blockchain system matures, the most exciting goals relate to the efficiency increase. In particular, we would like the node operation to be performed with maximum efficiency.
We currently observe and study in detail how the node works and how to distribute traffic flows within the network to maximize scalability.
We explore how we can make the node operate most efficiently, with optimal network traffic use and maximum interaction.
The further planned updates of this year will be solving these problems.
What do you like most about your day-to-day routine? What is your main excitement about blockchain technology?
I like the creativity of the process and the possibility of using my expertise, understanding, and knowledge in everyday tasks. Furthermore, I enjoy that we are always looking for new goals and solutions and reaching them in the end.
Blockchain is exciting in many ways. It is a truly revolutionary technology that potentially can become a disruptor to many parts of our life. However, its practical adoption is slow, and its business application to each industry is probably not logical. You can implement blockchain almost everywhere, but you need to compare the expected results and the cost of its implementation. For some business goals, it is just not a necessity to use blockchain. Some simpler data transfer mechanisms which are also cheaper should be used then.
In your opinion, which industries can benefit most from blockchain adoption?
First of all, it is payments, finance, and banking. Then I would say blockchain integration in various registries, data systems, and processes that require strict accounting/document flow with no option for replacement or abuse of document/information circulation. Such examples include notaries, voting systems, tracking systems.