In-depth Understanding of the New Generation POW: Interview with InitVerse CBO Hakan Sezikli

POW sounds outdated, but it is actually a purebred Blockchain logic. In Web3, Mining has always been one of the most enduring and popular tracks. What is its future development potential? The following content is整理自 an interview with InitVerse's CBO Hakan Sezikli. If you want to know whether POW is an opportunity you should follow and how to achieve innovation, this content is a must-read.

Q: First, let's understand where the idea of InitVerse comes from and tell us about your core team members and their backgrounds?

A: Hello everyone, I am Hakan Sezikli, the CBO of InitVerse, and I will introduce the details of InitVerse to you.

InitVerse is the first Web3 development platform that integrates full-stack privacy computing capabilities. The original intention of the project is to "lower the development threshold and unleash creativity." With this vision, we embarked on our Web3 journey. Initially, we faced two major pain points in the industry: privacy and thresholds. The transparency of data on public chains is like a double-edged sword — it brings trust but makes sensitive business scenarios such as medical records and financial contracts hesitant; while the high threshold of Web3 development blocks countless ideas from entering Web3. Therefore, we developed a privacy public chain, INIChain, as the underlying support, deeply integrating complex cryptographic technology with developer friendliness, providing an integrated solution from smart contract development, on-chain data encrypted computing to dynamic resource expansion.

Our team members come from multiple countries around the world; they are practitioners with deep Web3 knowledge, seasoned investors, and Blockchain experts from various fields such as Layer1, DeFi, software development, finance, retail, art, and media.

Q: Could you please provide us with a detailed introduction to the core technology or product philosophy of InitVerse?

A: The next stage of Web3 development will shift from "usable" to "trustworthy". Efficiency and innovation are not the end points; trust is the core value of technological evolution. To address the two industry pain points of "privacy and thresholds", we have delivered two answers: INIChain and SaaS platform.

The purpose of launching INIChain is to ensure that blockchain technology truly serves real-world needs. As the first blockchain network to seamlessly integrate TFHE (Fully Homomorphic Encryption) with EVM compatibility, we have addressed the long-standing privacy challenges faced by public blockchains. We support the execution of computing tasks directly in an encrypted state, ensuring the security of sensitive data throughout its entire lifecycle. The innovative Dual Dynamic Adjustment (DDA) mechanism and VersaHash algorithm endow the system with adaptive capabilities to respond in real-time to network load and privacy demands, ensuring low Gas fees and millisecond-level transaction confirmation speeds even in high-concurrency scenarios.

The InitVerse SaaS platform comes with built-in SaaS tools and AI-assisted development modules, significantly lowering the barriers to building Web3 DApps through a drag-and-drop interface and self-auditing features for smart contracts. Even users with no programming experience can complete application deployment within 3 hours. Currently, InitVerse has expanded to 9 countries globally and is being applied in cutting-edge scenarios such as cross-organizational secure collaboration and privacy machine learning, providing developers and enterprises with Web3 infrastructure that meets stringent regulatory requirements like GDPR, and continuously pushing Web3 DApps towards a privacy-first era.

The technical implementation and commercial ecosystem of InitVerse have been validated multiple times, becoming a high-quality Blockchain platform that covers 9 countries, has gained the trust of over 400,000 users, and processes 23 million transactions. Additionally, the platform now supports 9 languages, covering 90% of global internet users, and has completed over 50 multilingual AMAs with participation from tens of thousands of users in online stress tests.

Q: What are the innovations of your project compared to existing Blockchain systems? Some believe that VersaHash might be slower because it emphasizes privacy and security more. What are your thoughts on this?

A: Unlike traditional PoW, the VersaHash algorithm combines the dynamic allocation capability of computational resources (DDA) and introduces a multi-stage fault tolerance design, optimizing it for high-security blockchain scenarios. It can dynamically adjust hash strength and computational resources based on the privacy level of the block and the needs of the network. VersaHash is designed for privacy-enhancing TfhEVM and can maintain high performance even in environments supporting fully homomorphic encryption (TFHE) smart contracts. Although the VersaHash algorithm may focus more on privacy security, it cannot be generally assumed that it is weaker in performance and speed; there is a balance between security and performance, rather than an absolute trade-off.

Q: What is the role of the project token $INI, can you tell us more about the economics?

A: The INI token is the native token of InitVerse and can also be regarded as an ecosystem token or governance token. The INI token is based on a constant total supply of scarcity, with a total of 6 billion INI tokens, which create deflationary pressure through a 40-year linear release and dynamic halving mechanism (every 7 days halving cycle), reaching a circulation of 50% by the fifth year, and the token's scarcity increases exponentially over time. All tokens are generated through Block production to incentivize participants and maintain network security. Becoming a node and contributing to network maintenance is a permissionless process, and anyone with the appropriate equipment can participate. This distribution strategy ensures that the INI token can support platform development, reward participants, and maintain the stability of the ecosystem.

The InitVerse team will gradually step back from leadership roles and fully transfer governance to the community (or foundation). The management of subsequent Mining rewards will be the responsibility of the community or foundation, with both parties jointly deciding on the specific distribution and usage of rewards. INI has multi-scenario consumption needs, such as developers consuming for the development of privacy DApps, enterprises paying for privacy computing service costs, and users participating in governance voting, all of which will continuously consume INI, forming a value closed loop of "application → consumption → value enhancement."

Q: Why is the INI price low? Is its value underestimated?

A: While other projects chase market trends, InitVerse has chosen a more challenging but sustainable path, redefining the trust mechanism of the digital world through cryptography. Every line of code here is doing real work - reducing the cost of privacy protection for developers, improving data collaboration efficiency for enterprises, and safeguarding the digital sovereignty of ordinary users.

INI, as the core asset of the InitVerse ecosystem and INIChain public blockchain, derives its value from the ecological technological strength, the multi-domain application scenarios of Web3 (such as DEX, NFT, wallet), and community governance (DAO). This fundamentally distinguishes it from Meme coins and hype coins. The long-term vision of InitVerse is that as the mainnet features iterate, ecological applications explode, and exchange liquidity improves, INI will gradually reflect the scarcity and utility of its public chain token. We are preparing four core matrices to achieve this pathway: the interactive task platform Candy serves as a zero-threshold ecological entry point, enhancing understanding and lowering operational barriers through simple and rich tasks; INIBoo NFT acts as a value passport for the InitVerse ecosystem, granting users more scarce rights; the "Prometheus plan" with a $10 million ecological fund addresses the real development needs of Web DApps; finally, liquidity issues are resolved through ObsSwap and trading platforms. The essence of blockchain is not cold hash values, but the pursuit of trust, efficiency, and fairness by countless individuals. InitVerse is undergoing a silent infrastructure revolution.

Q: Please share some of the latest news about the project.

A: In terms of tokens, with the active promotion of several community ambassadors, INI successfully launched on the exchange on April 29, marking an important step in the autonomous governance of the InitVerse ecosystem. Currently, the team is advancing technical adaptations and special area collaborations with several leading exchanges. It is worth looking forward to that INI will be listed on more well-known exchanges in the near future. At the same time, various interesting and high-yield trading activities will be jointly launched during the listing, and we hope everyone will follow.

In terms of products, our task website Candy platform is about to be updated and launched. This is an important component of the InitVerse ecosystem in its early stages and a key step for InitVerse to collaboratively verify product interaction experiences and ecological gameplay with the community. Users can earn points by completing a series of interactive gameplay on the Candy platform, which can be redeemed for subsequent airdrop rewards.

In addition, our InitVerse cloud computing power platform is expected to launch in Q3. The core of this product is to allow all users and miners supporting INI to participate in network construction and receive rewards more easily and fairly. For ordinary users, it significantly lowers the mining threshold, as users do not need to purchase or use expensive physical equipment for long-term mining. Instead, they only need a small amount of funds to subscribe to computing power and start short-term mining, with a very short payback period and the ability to provide stable daily earnings. Cloud computing power package = computing power fee + hosting fee (total electricity fee, venue fee, maintenance fee, management fee). For existing miners, this will be a smooth upgrade path, and there will be exclusive discounts and computing power giveaways during the initial subscription phase, effectively avoiding profit declines and forced exits due to competition for professional equipment. At the same time, cloud computing power is deeply integrated into the InitVerse ecosystem, allowing users to even pay for limited sale products using INI and enjoy time-limited discounts. Additionally, it is revealed that the two-year anniversary INIBOO NFT held by users is no longer an ordinary NFT asset; it will bring significant bonuses for cloud computing power mining. The original intention of designing the cloud computing power platform is to ensure that participants with different investment scales and technical levels can safely and conveniently share the dividends of the development of the INIChain network, and together maintain a more decentralized and powerful privacy computing network.

In terms of ecological construction, InitVerse has long launched the "Prometheus Plan," which plans to distribute $100 million in bonuses to fund the incubation of highly active projects, without cumbersome KPI restrictions. The only requirement is to "solve real needs." Web3 developers can quickly build compliant applications on the SaaS platform through a drag-and-drop interface. We hope to create practical and interesting Web3 applications in collaboration with creative developers. Currently, we have received 197 applications, with a maximum funding of $50,000 available for each applicant. Nine projects have passed various conditions of review and are currently in the development stage.