Re: ★Italo Network★ - Proof OF Stake | Service Nodes | BLINK | Low Supply
Hello community, dev here.
In the past few months many things happened, we had many plans and in the end we came to a conclusion, i scrapped over 4 months of work and started over to move ITALO (XTA) on Golang and from POS back to POW with DAG block structure, we will use the source code of DERO as is a fully distributed ledger processes transactions and has a twenty-seven seconds average block time and is secure against majority hashrate attacks, we will support private smart contracts (just like Ethereum but PRIVATE) on our native chain without any extra layers or secondary blockchains!
New website, Pool, Online Wallet, New GUI wallet, CLI wallet for Windows, Linux and MAC.
From Proof-Of-Stake to Proof-of-work (AstroBWT) mining algorithm that aims to reduce the performance advantage of GPU, ASIC, and FPGA hardware to allow for competitive CPU mining.
Rocket Bulletproofs: How long does it take to verify a Rocket bulletproof?
While a typical Bulletproof takes ~15 ms to verify, Rocket Bulletproofs only take ~1.5 ms.
We will make NFT website where people can sell/buy NFTs on our own blockchain!
Rebrand!!!
We will have to rebrand because many and i mean it MANY had issues with the name ITALO as it refers to a Country name, we will make a poll on twitter where people can suggest names then we will put all suggested names in another poll so that the community can chose the new name of our project!
Now that we know what are the feature plans lets talk about circulating supply!
Yes, again, we have pushed on the market millions of coins, to be precise 70 Millions! therefore our new circulating supply is:
48859929.789167389 + 70000000 = 118859929.789167389
Many of you will be outraged about that but in the end this move will pay off!
The idea behind this push was that if many people have coins and is affordable it will gradually move up and we will have more people that hold coins and the community will expand, to make sense of this move just take a look at Shiba inu or doge with billions doge and trillions of coins SHIBA grew a staggering 1000000% in 1 Year, apart of the hype was because many people could afford it and bought this coin as its cost was extremely low and secondly of course Elon Musk, but overall the growth of all this coins with billions in circulating supply is because many can afford to buy it, and if you make a simple math if 100.000 people buy 100.000 coins each they all bought 10.000.000.000, getting 100k of Shiba right now costs you $5,31 so you can see how and why this coins with billions of coins can easily grow a lot.
Now you will probably ask yourself what did you do with the BTC that you got from pushing those coins on the market? We pushed the coins at 1 sat price and bought back at 2, as you have saw in this past months how many millions of coins got sold and bought, but, as you may know if you sell at 1 and buy at 2 you lose 50% of coins and BTC every time, therefore we are left with no btc and we pushed on the market 70M XTA.
Now my question to you the community and investors is: should we push more coins? We will only Push at 1 sat and buy back at 2 sat 100% of BTC gathered like before, I will make a poll on twitter, we still have 160 Millions coins left i will provide here the wallet with the viewKey, you will look at the time of the transaction of those 160M coins so that you can know for sure that this coins are from now and not from before.
https://twitter.com/italocoin/status/1460178993865441281
I saw last time that many didn’t knew how to generate a view only wallet to check that the coins are there, so i will give you a small guide here on how to do that.
First you need to download CLI wallet from here download the cli based on your OS, for Windows open Command Prompt with the keyboard shortcut Windows Key + X, unzip the CLI file, access it and drag the italo-wallet-cli.exe inside the Command Prompt then follow the instructions down below.
CLI: Creating a View-Only Wallet from a Private View Key
Address: iz5qRA2i4FN9LZ2xWvdiQz2M6tRp5dWFTXvB5TsaiJjFEhtKaoB7CiMMTBpJGCNFtaQzHey3T1j15KR NPzie16bg2BqNccwae
ViewKey: 99b694bf5d4b0b18b59f478cfd5ee53b22cf54755fef72d6456fdaf14ed1d103
Next, create your view-only wallet by typing italo-wallet-cli --generate-from-view-key wallet-name. The last argument will be your new wallet's file name.
You will be prompted for Standard address and View key by the wallet. Paste in your original wallet's address and private (secret) view key. Next, enter and confirm a password for your new wallet.
Now let’s talk about the SWAP, when it will happen and what should people that own ITALO coins have to do.
The Swap will happen around half of the January of 2022.
Everyone has to move the coins on Tradeogre by that date as if not those coins will be lost forever!
More news and updates will come up in the following weeks.
Thank you all that are still here and supporting the project. I really appreciate you all.
Until the next time, y’all have a great day and stay TONED 💪🏿 soon we will go to the moon.
https://twitter.com/italocoin/status/1460178722963734528
DEV.
In the past few months many things happened, we had many plans and in the end we came to a conclusion, i scrapped over 4 months of work and started over to move ITALO (XTA) on Golang and from POS back to POW with DAG block structure, we will use the source code of DERO as is a fully distributed ledger processes transactions and has a twenty-seven seconds average block time and is secure against majority hashrate attacks, we will support private smart contracts (just like Ethereum but PRIVATE) on our native chain without any extra layers or secondary blockchains!
New website, Pool, Online Wallet, New GUI wallet, CLI wallet for Windows, Linux and MAC.
From Proof-Of-Stake to Proof-of-work (AstroBWT) mining algorithm that aims to reduce the performance advantage of GPU, ASIC, and FPGA hardware to allow for competitive CPU mining.
Rocket Bulletproofs: How long does it take to verify a Rocket bulletproof?
While a typical Bulletproof takes ~15 ms to verify, Rocket Bulletproofs only take ~1.5 ms.
We will make NFT website where people can sell/buy NFTs on our own blockchain!
Rebrand!!!
We will have to rebrand because many and i mean it MANY had issues with the name ITALO as it refers to a Country name, we will make a poll on twitter where people can suggest names then we will put all suggested names in another poll so that the community can chose the new name of our project!
Now that we know what are the feature plans lets talk about circulating supply!
Yes, again, we have pushed on the market millions of coins, to be precise 70 Millions! therefore our new circulating supply is:
48859929.789167389 + 70000000 = 118859929.789167389
Many of you will be outraged about that but in the end this move will pay off!
The idea behind this push was that if many people have coins and is affordable it will gradually move up and we will have more people that hold coins and the community will expand, to make sense of this move just take a look at Shiba inu or doge with billions doge and trillions of coins SHIBA grew a staggering 1000000% in 1 Year, apart of the hype was because many people could afford it and bought this coin as its cost was extremely low and secondly of course Elon Musk, but overall the growth of all this coins with billions in circulating supply is because many can afford to buy it, and if you make a simple math if 100.000 people buy 100.000 coins each they all bought 10.000.000.000, getting 100k of Shiba right now costs you $5,31 so you can see how and why this coins with billions of coins can easily grow a lot.
Now you will probably ask yourself what did you do with the BTC that you got from pushing those coins on the market? We pushed the coins at 1 sat price and bought back at 2, as you have saw in this past months how many millions of coins got sold and bought, but, as you may know if you sell at 1 and buy at 2 you lose 50% of coins and BTC every time, therefore we are left with no btc and we pushed on the market 70M XTA.
Now my question to you the community and investors is: should we push more coins? We will only Push at 1 sat and buy back at 2 sat 100% of BTC gathered like before, I will make a poll on twitter, we still have 160 Millions coins left i will provide here the wallet with the viewKey, you will look at the time of the transaction of those 160M coins so that you can know for sure that this coins are from now and not from before.
https://twitter.com/italocoin/status/1460178993865441281
I saw last time that many didn’t knew how to generate a view only wallet to check that the coins are there, so i will give you a small guide here on how to do that.
First you need to download CLI wallet from here download the cli based on your OS, for Windows open Command Prompt with the keyboard shortcut Windows Key + X, unzip the CLI file, access it and drag the italo-wallet-cli.exe inside the Command Prompt then follow the instructions down below.
CLI: Creating a View-Only Wallet from a Private View Key
Address: iz5qRA2i4FN9LZ2xWvdiQz2M6tRp5dWFTXvB5TsaiJjFEhtKaoB7CiMMTBpJGCNFtaQzHey3T1j15KR NPzie16bg2BqNccwae
ViewKey: 99b694bf5d4b0b18b59f478cfd5ee53b22cf54755fef72d6456fdaf14ed1d103
Next, create your view-only wallet by typing italo-wallet-cli --generate-from-view-key wallet-name. The last argument will be your new wallet's file name.
You will be prompted for Standard address and View key by the wallet. Paste in your original wallet's address and private (secret) view key. Next, enter and confirm a password for your new wallet.
Now let’s talk about the SWAP, when it will happen and what should people that own ITALO coins have to do.
The Swap will happen around half of the January of 2022.
Everyone has to move the coins on Tradeogre by that date as if not those coins will be lost forever!
More news and updates will come up in the following weeks.
Thank you all that are still here and supporting the project. I really appreciate you all.
Until the next time, y’all have a great day and stay TONED 💪🏿 soon we will go to the moon.
https://twitter.com/italocoin/status/1460178722963734528
DEV.