Topic: ILCoin (ILC) (Read 16132 times)

Listing on FINEXBOX on July 15
https://coindar.org/en/event/ilcoin-ilc-listing-on-finexbox-22392

Deposits and withdrawals in crex24 are disabled, please check why

Hello, good project
a question
This coin can be mined

Mining has never been directly available for ILCoin. There is, however, a cloud mining service which can be subscribed to. At this very moment, it is unavailable due to a reworking of the infrastructure and front-end design.

Probably one of the leading issues preventing a resolution to your problem is disregard for usage of proper channels of communication. Please write an email to [email protected].

can you still mine this coin, and if so, can you direct me to mining pool....looked all over can not find
a pool..thanks for help..

Hi, ILC
My ILC transaction from April 7 2019 5:48 PM (from TradeSatoshi) have an unconfirmed status so far. Two months!

TX: fc22277a7bd5493a47596b9c222d671cbf44099df72c2b786ced275dfe4ec1e3   
What is the problem?
 

Palo Alto Networks Partner Has Successfully Certified ILCoin's C2P Protocol for Quantum Resistance

https://finance.yahoo.com/news/palo-alto-networks-partner-successfully-070000642.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAAxLRoqqkUR-h0ZoH9Rd7O4sSneJoY6BX8w1JDWr2h2fLRktJ4KmP0CxTm0kPlr1p4EzSGUPCJDD1CYqNxtwfTiFjHapqGOiwobXO-U0QmgAsjObfZ7A0WCt-Fk2zif1qAxs6aohYwVfRlU1QRwsQ58cxhHaoFl8NJVTx-cjvmKB

     DUBAI, UAE, May 28, 2019 /PRNewswire/ -- Distributed ledger consensus algorithms such as PoW(Proof-of-Work) made companies lose more than $20 million during 2018 in hacking attacks without any possibility to recover losses. And near-future quantum computing mass-adoption may dramatically increase those potential damages which will be accounted to billions of dollars. There was no working solution to this devastating problem, until now.

     The certificate from Palo Alto Networks Partner that the innovative C2P (command chain protocol) has successfully passed a cyber security audit, which confirmed 51% attack and quantum resistance.
The certificate from Palo Alto Networks Partner that the innovative C2P (command chain protocol) has successfully passed a cyber security audit, which confirmed 51% attack and quantum resistance.
More
     A team of professional developers from ILCoin project are on a mission to end any possibility of quantum 51% attacks in this industry. Recently, their innovative C2P(Command Chain Protocol) has successfully passed the cybersecurity audit, which has confirmed the quantum resistance. ILCoin's Executive Manager, Norbert Goffa has expressed his thoughts on this matter:

     "It is very hard to overcome the possibility of a 51% attack in PoW algorithm. So, we needed to rethink everything from the bottom up. We knew that the blockchain itself needed to be significantly improved so we could reach our goal. We wanted to create a unique technology that had never been made before, but at the same time, not over-complicated yet very functional. The solution is simple, elegant, and secure."

     Palo Alto Networks Partner was testing the C2P technology 4 weeks in a row in a desire to take enough time to find any possible vulnerabilities. During this period, their team has run tests on 51% attack, Fork Attack with a Rollback Attack, Design Flaw Type Attacks which directly affect smart contract's functionality. Considering the fact that quantum technology is capable of taking over many existing consensus protocols, all tests have shown that the C2P protocol successfully eliminates all risks associated with quantum computing 51% attacks.

     "We tried several blockchain attack techniques, but none of them have worked. Due to C2P, ILCoin's blockchain is resistant to 51% and quantum computing attacks, and it's definitely incredible. We claim this and prove it. Even an infinite amount of hash power is useless to form an attack," states Peter Boros, General Manager at EURODIGITAL, an official partner to Palo Alto Networks.

     The ILCoin's consensus protocol has resolved the problem associated with 51% quantum computing attacks. It's first in its kind and creators are planning to enter confidently into the market providing cutting-edge blockchain technology.

     Further details about the certification can be found on the project's website and through the dev team in their Telegram channel.
     ILCOIN Development Team

Hi, ILC

My ILC transaction from 2019-05-30 (from TradeSatoshi) has an unconfirmed status so far.

The transaction ID is b8eea60e6decbba01458e1bb0108fb82b3c996d92b3b87b77a0de601938d8deb

What is the problem?

Went to the accounts of the exchange in social networks and there is no confirmation. Hmmm. It looks very strange. This exchange still looks more solid than the stex, but still this is not enough.

Hi, ILC
My ILC transaction from 2019-04-28   have an unconfirmed status so far.
txid 225b15f1f4a42adceb55f39bd7c6fcd19c404c95bb102ac002c6e5fe3ca3307e
What is the problem? Why is there no sending or no return?

the pool is not working?

Industry-changing Interview: Norbert Goffa talks About a Technologically Advanced Cryptocurrency ILCoin
https://bitcoingarden.org/industry-changing-interview-norbert-goffa-talks-about-a-technologically-advanced...

Sometimes people don’t like to reveal themselves fully, especially if they are involved in the creation of something groundbreaking. But if we are talking about cryptocurrencies, then there’s another critical factor – decentralization.

If you are creating a technology that must be decentralized, then ideally the company shouldn’t be public at all, because otherwise, this fact creates unbearable risks of third-party influence that can easily harm a technology. With this motive in mind, a group of people has decided to create a unique cryptocurrency called ILCoin back in 2015 that is slowly paving its path to becoming the bitcoin alternative.

ILCoin is managed by an executive director Norbert Goffa, a professional who is very experienced in sales and marketing. Also, he plays the role of an official ILCoin’s representative, who is responsible for the project’s business and strategic development. He helps the team to drive the project, cooperatively taking important decisions with them on technological development and strategy. Considering all efforts, the native cryptocurrency is already traded on more than 10 international cryptocurrency exchanges, and today, Norbert Goffa reveals additional facts about ILCoin’s past and future challenges....

Good times!
My ILC transaction from Graviex to Freiexchange UNCONFIRMED. 2019-02-26 10:54  cca582c9c674c0d376f2c0725a3614d0cb13f85b3585dae9e55fbe6fdace8427 .  I would be grateful for the help!

Why your project locked in long time ago. What happen with your project?
I have friends, they invest to your project. Its my cousin, I was afraid that this was a failed and dead project so now I'm happy to see your project active again.

I did not understand, this coin is pow or what? if and pow where can I get it?

Do you need a Bounty manager? My telegram group has 11k members on Bitcointalk, we can help you promote your project, attract investors, create an active community ...

hi dev could i know where you can mine this coin?

Issue resolved, thanks for ILC and Stex dev team.

This coin has Centralized blockchain, against all crypto world lol. Stay away, dev team has access to all of your coins lol.

+ Raised fun by MLM pyramid scheme
+ Old founders left
+ Centralized Blockchain

Enough said, scam at its best.

Hi, ILC
My ILC transaction from 2019-03-14 (from Stex) have an unconfirmed status so far.
ID be4ce81b1863c1bcf9a16f66830e903e81dd75531803ce0cabb4b22974059f44
What is the problem? Why is there no sending or no return?

IlCoin Relisted on STEX Exchange

Company resumes trading with a new quantum resistant blockchain source code after a brief hiatus.

The innovative cryptocurrency company, IlCoin, would like to announce its resumption of trading activity on STEX, a leading cryptocurrency exchange. IlCoin left the exchange earlier this year to update the source code for its ILC coin. This cutting-edge update increased the block size and enhanced security within the IlCoin's blockchain network.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/ilcoin-relisted-stex/

ILCoin has been listed on @Coinmarketdaddy (CMD). For all the trading information, total Supply, current price,  1 hour change, 24 hour change, 7 days change,  historical data , graph, calculator, convertor, reviews, statistics, and comments check out CMD twitter page @Coinmarketdaddy (CMD) and visit

ILC Market & Trading Data

Volume (24h)         $123.04K   
Maximum Supply   2,500,000,000
Price %(1h)          0.22%
Price %(24h)           -8.22%
Price %(7d)                16.60%

https://coinmarketdaddy.com/currencies/ilcoin/

Everyone welcome our newest exchange: DobiTrade!

https://www.dobitrade.com/en/trade/ilc_btc

ILCoin is listed and ready to trade. Go give them a try and see what you think!

ILCoin has been listed on @Coinmarketdaddy (CMD). For all the trading information, total Supply, current price,  1 hour change, 24 hour change, 7 days change,  historical data , graph, calculator, convertor, reviews, statistics, and comments check out CMD twitter page @Coinmarketdaddy (CMD) and visit

ILC Market & Trading Data

Volume (24h)         $45.46K   
Maximum Supply   2,500,000,000
Price %(1h)         0.13%
Price %(24h)              14.77%

https://coinmarketdaddy.com/currencies/ilcoin/

Bitker

Now, you have even more options for trading your ILCoin.

We are now listed on Bitker exchange!
https://www.bitker.com/#/bbTrades/ilc_btc

See you on the trading floor!

ILC
Good cryptocurrency!
 

https://coinmarketcap.com/currencies/ilcoin/

ILCOIN - Blockchain technology - SHA256 algorithm

https://www.cryptocompare.com/coins/ilc/overview

Maximum
2,500,000,000ILC

Bonus blocks
ILCoin is an electronic payment platform. Users are allowed to perform digital token transactions through a blockchain-based mechanism deployed on the ILCoin network. In addition, it is available on a digital wallet platform designed for windows, Android and iOS devices.

The ILCoin Token (ILC) is a PoW (Proof of Work) code based on the SHA256 algorithm. It can be used as a vehicle for exchanging values ​​in the platform as well as to access the goods and services available.

Our wallet

ILCoin can be safely stored in a purse built for the cloud, Android, OSX and PC and it can be transferred directly to anyone instantly without charge, without a bank without an account. reimbursement.

Official ILCoin website: https://ilcoinwebwallet.com/

ILCoin Official Wallet: https://play.google.com/store/apps/details?id=wallet.ilcoin E-Wallet

Official ILCoin / Bitcoin (BTC): https: //play.google.com/store/apps/details? id = ilcbtc.wallet & hl = en

ILCoin list

Bit information chart
https://bitinfocharts.com/ilcoin/

Bitmakler
https://bitmakler.net/ILcoin___kriptovaluta

CoinCodex
https: //coincodex.com/crypto/ilcoin/

CoinGecko
https://www.coingecko.com/en/coins/ilcoin

CoinMarketCap
https://coinmarketcap.com/currencies/ilcoin/

CoinMarketInfo
https://coinmarketinfo.com/

CoinRanking
https://coinranking.com/coin/ilcoin- ilc

CryptoCoinCharts
https://cryptocoincharts.info/coins/show/ilc

CryptoCompare
https://www.cryptocompare.com/coins/ilc/overview

Cryptonator
https://www.cryptonator.com/rates/ILC-BTC

DataCoinz
https: //www.datacoinz.com/coins/ilcoin/price/

WorldCoinIndex
https://www.worldcoinindex.com/coin/ilcoin

ILCoin transaction

ILCoin is listed and freely traded on:

IDAX
https://www.idax.pro/#/change? pairname = ILC_BTC

FUBT
https://old.fubt.top/trademarket.html?symbol=223

Coin Exchange.io
https://www.coinexchange.io

STEX
https://app.stex.com/en/trade/pair/BTC/ ILC

C-CEX
https://c-cex.com

TradeSatoshi
https://tradesatoshi.com/Exchange/?market=ILC_BTC

Crex24
https://crex24.com/

Graviex
https://graviex.net/

FreiExchange
https: / /freiexchange.com/market/ILC/BTC
Great!

CoinCodex

This is a great time to announce that:

CoinCodex has listed ILCoin!

https://coincodex.com/crypto/ilcoin/

Please go check out their website when you get an opportunity. It's a good listing site.

Go take a look!

Thank you, community! We're on it!

now we can see this Ilcoin at coinmarketcap list,,
https://coinmarketcap.com/currencies/ilcoin
good job dev 

You control the mining?

Can the public mine this coin, or do you simply mine it uncontested and sell it to people on exchanges??

I have now visited your site and it does indeed seem as though you have mined all the coin and are selling it. LOL

In addition to this your blockchain is missing the most critical part of what makes a blockchain useful namely decentralization. If you control it all, why should we trust you with our money?

The whole point of using the blockchain is because we do not trust our banks/governments!

EXCHANGE SWAP

We want to share with you we will be swapping exchange sites: C-Cex for STEX. This is due to the lack of responsibility, volume, and professionalism that C-Cex has presented in addition to the long holidays and general absenteeism they had in their site.

Everyone please welcome StocksExchange (STEX) as one of our new exchange sites.

https://app.stex.com/en/trade/pair/BTC/ILC

Hope to see you on the trading floor!

Links to our wallets can be found on our homepage:

https://ilcoincrypto.com/#/

These are the only wallets we provide.

Thank you for your question.

DEV I want to buy a lot of coins. Where can I download a wallet for Ubuntu 16 or source code to build a coin?

Vote for ILCoin on txbit.io

Vote: https://txbit.io/Coin

Voting round will run from November 7th, 20:00 UTC to November 21st, 20:00 UTC

Help to make ILCoin more and more successful. Thank you for your support! Every vote counts!

The new link for our Telegram chat group is as follows:
https://t.me/ILCoinDevelopmentTeam

Come and participate in the discussion!

A new ILCoin user's group has been created in Telegram.

Discuss ILCoin with us and tell us your thoughts or ideas in this new group.

ILCoin Development Team

https://t.me/joinchat/GAkcBxFXGtY5NQ6_az_Idw

Trade! with TradeSatoshi

ILCoin users now have a new opportunity to trade. TradeSatoshi has accepted ILCoin on their exchange. This is yet another platform available for ILCoin users to choose to utilize.

Check out the markets at https://tradesatoshi.com/Exchange/?market=ILC_BTC to begin trading ILCoin today!

Hope to see you on the trading floor!

Greetings and thank you for the question.

ILCoin was first marketed in Vietnam back when it was under the banner of ILGAMOS. The coin was created by ILGAMOS for this purpose. Therefore, most users are from Vietnam. However, since it first appeared on the crypto exchanges, its ownership has become much more diverse; though it is still more popular in Asian and Middle-Eastern countries than in the Western Hemisphere. Since ILCoin's separation with ILGAMOS, the diversification has grown exponentially.

hi Dev,
Can you tell me why most of traffic (93%) to your website (https://ilcoincrypto.com) is come from Vietnam, not other country?
Thanks.

Starting tomorrow, we will be listed on one of the best exchange sites in China.

To our loyal community: We want to share some great news with you! As you requested, beginning tomorrow (October 10th at 10:00 GMT +8) we will be listed in one of the TOP exchange sites of the crypto market. FUBT (https://www.fubt.top) is placed 14th in trading volume worldwide according to https://bullseye.io/exchanges.

Help us make ILCoin even better! Start trading in their platform tomorrow!

C-Cex Status Update

A month has passed and C-Cex still holds and trades ILCoin.  

Who knows what is going on internally with that exchange. Regardless of ILCoin's fate on C-Cex, we have already set our sights on new exchanges and the application process has already begun.

IMPORTANT C-CEX UPDATE:

C-Cex has decided that ILCoin is no longer welcome to be exchanged on the site. IT IS VERY IMPORTANT YOU REMOVE ANY ILCoin YOU MAY HAVE STORED ON THIS EXCHANGE!

C-Cex staff members have been on holiday for 4 months of the past 12 months. We have had issues with C-Cex but have been unable to communicate with them due to their absence. Even their support was unavailable for a very long time which is apparent by the full support cue awaiting anyone attempting to open a ticket. We were met with the message "Our support ticket queue is full. Please, come back in few hours" just earlier today.

ILCoin will be de-listed this Sunday, 9 of September, 2018. We apologise for the short notice, however we just learned of this ourselves.

Remember that for the price of ILCoin, or any cryptocurrency rise, it is necessary that its users trade with it. Because, if there is no movement, the price tends to go down.

We have just made agreements with 2 new Exchange sites (Graviex / Crex24), and in order to be in new and bigger ones it is necessary to maintain a high exchange volume.

Presenting, Crex24 Exchange at https://crex24.com/. Another great trading opportunity for the ILCoin community! We invite ILCoin users to begin trading on our new affiliate exchange, Crex24! Raise the market by participating in some exchanges between ILCoin and either Dollars (USD), Bitcoin (BTC), or Ethereum (ETH). We'll see you there on the trading floor!

https://crex24.com/exchange/ILC-BTC
https://crex24.com/exchange/ILC-ETH
https://crex24.com/exchange/ILC-USD

Great news! Graviex Exchange and ILCoin are now partnered up for business. You can now trade ILCoin at https://graviex.net/. Graviex has its own cryptocurrency called Gravio. You can learn more about Gravio at https://www.gravio.net/. The GRAVIEX Exchange is a part of the GRAVIO Ecosystem. Low fees, fast withdraws, and high security.

Order price step = 0.1sat (0.00000000'1)

We hope to see you on the exchange!

ILCoin is on the prowl! After returning from vacations, we applied to many, many exchanges. Unfortunately, only one exchange gave us an opportunity: Freiexchange. However, after a rough start at the beginning of this year, we waited until the waters calmed for a while before jumping back in. Now we are getting another round of applications filled in and crossing our fingers for positive responses! We are hoping, with time, the exchanges will forgive ILCoin for its less-than-perfect past. If we get accepted to a new exchange, you will be sure to hear about it! Thanks Freiexchange for giving us a chance!

Do you know about the new ILCoin/Bitcoin wallet? Check it out! We made it compatible for both cryptocurrencies in anticipation of our upcoming Smart Contract release later this year!

https://play.google.com/store/apps/details?id=ilcbtc.wallet

This observation is very true.

Yet, perhaps you could further explain why this comment belongs on the ILCoin forum and not on the a forum about general altcoin observations?

If it is your sincerest belief that merely altering a source code is our only achievement, then I invite you to read a bit more about ILCoin and its ongoing developments.

Constant updates of the project source code are not enough to be unique among the set of identical altcoins

so how we can control it's not another one premined scam? private mining was never good decision... neither was a closed source

YOU CAN MINE BITCOIN ON YOUR LAPTOP

Or, any other cryptocurrency you want to mine…

Of course, your mining results will always depend on the variables such as internet connectivity restrictions, power consumption and local costs, the laptop you are using for mining, the mining software, the value of the coin, the mining difficulty, ect… Having said that, it is completely reasonable to mine about ten cents (USD) of Bitcoin in 24 hrs using a mid-ranged laptop and a downloadable program such as NiceHash.

The bad news comes in the form of maintenance costs. Electricity costs and computer degradation are the biggest of these costs. Not to mention the computer will need to perform that task 24/7 and thus will be a dedicated computer for that task…

There is, however, an easier way. Cloud mining using a service that provides its own specially-tuned mining processors and cloud mining software is a potentially rewarding solution. Cloud mining eliminates many of the negative aspects of mining cryptocurrency while providing a viable way of investing money into mining coins; particularly cryptocurrencies that have a large per-coin value. Of course, you will have to do your homework before you begin trusting your hard-earned money with potential scammers or Ponzi schemes. Investigate the company and find out what people are saying about them.

The ILCoin Source Code is private since mining is controlled. A new Windows QT wallet is in the final stages of development.

sourcecode ? or working linux/win/mac wallet?

DIFFERENCE BETWEEN A CRYPTOCURRENCY AND A TOKEN

If you go to a state fair, you use currency to buy tokens to ride the rides. Those tokens are only good for attractions at that particular fair and are non-transferable for the fair in the next state. They are not worth anything at the nearby theme park nor are they valid at the subway. They serve one purpose and one purpose only at a single location.

In most situations, you cannot even return the tokens you did not use for a refund of your money. You could, however, sell the tokens you did not use to another buyer. The buyer should be well aware that they are only worth something at that event and their value is not translatable to anything else outside that location.

Using this example, we can see that the currency has value even without the token; it may be used in many places. The token only has value in a specific place, but that value is totally dependent on the value of the local currency. With this in mind, you can easily see the difference between cryptocurrency and tokens. Many times, even on cryptocurrency exchange applications, the difference erased and the terms are used interchangeably.

2FA

Two-factor authentication (2FA) is when you have a second, completely unrelated account somewhere else that is tethered to your primary account for confirmation of changes made.

Let’s look at an example:

Email 1 is used to create an exchange account. Email 2 is set for 2FA. Every time a change is made to the exchange account email 1 was used for, a message is sent to email 2 requiring extra action to confirm the change was intentional. Changes could be sending coins, purchasing coins, logging in, logging in from another IP address, or a variety of other reasons; usually 2FA is configurable.

The trick to making a secure 2FA account is to combine 3 different elements: knowledge (something only you know), possession (something only you have), and inheritance (something only you are). A smartphone (possession) that unlocks using your fingerprint (inheritance) and utilizes an application that gives a random 2FA code (knowledge only the person observing the phone will have) can combine all three of these factors.

Practically any type of account can be tethered to the account requiring two-factor authentication. In fact, the further derived the secondary confirmation account is from resembling the primary account, the better. It is more secure to have a mobile application for 2FA if the primary account is connected to an email and vice versa.

However, there is a dark side to this security. If you have been reading all of the other posts, by now you will know that convenience is not secure. Be forewarned that making an account too secure may cause it to become an inconvenience. You should investigate the recovery process for a 2FA-secured account before doing business with the exchange. If you lose your smartphone (or it becomes otherwise inaccessible through theft, destruction, or other means) and the only 2FA tether is by means of an application within said device, you may have a difficult time convincing the exchange that you are the owner of those cryptos contained within their exchange.

Do you mean like alex35rus35 above who asked:

Why do not I see anyone in the comment?

HOW TO AVOID GETTING SCAMMED

So, you’ve found a decent cryptocurrency you are sure you want to invest your money into. Now, let’s discuss a few ways to keep that investment secure. You can never fully trust online security with your money. We are living in a technological age. Perhaps the security is near flawless, but even your own computer can betray you. Anything from cookies, keyloggers, or maybe even an unintentional click could land you in some hot water. For purposes of this article, let’s assume your computer is safe to use (no malware to steal your data and you have a good firewall/antivirus).

The thing you must always remember is this: It can be convenient, or it can be secure. Convenience and security are complete opposites. If it is easy for you, it is going to be easy for anyone who wants to steal FROM you. It may be convenient to store all of your passwords in one file stored on your desktop, but it will also be easy to retrieve all of your passwords if a hacker put forth the effort to get just a single file. Remember, convenience is not secure.

The first step to financial security is always going to be Two-Factor Authentication (2FA). I know. It’s an absolute pain… but a necessary pain. 2FA is when you have a second, completely unrelated, account somewhere else that is tethered to your primary account for confirmation of changes made. The next article will be written regarding 2FA.

Another piece of sound advice: Don’t keep money on exchanges. People are losing millions and millions keeping money on exchanges that become hacked. I can hear the rebuttal now. “But if I don’t keep the money on the exchange, I have to pay the transaction fee twice and wait twice as long to make a transaction because of the mining confirmations.” Convenience is not secure. Keep a small amount you could potentially stand to lose on the exchange. The majority of your money should be kept on a wallet that is offline, or at the very least, not related to the any exchange; such as our ILCoin web wallet. Send increments to the exchange’s wallet when you need to recharge it a little.

Never share your private key. I know this one sounds obvious, but you’d be surprised how much this occurs. I wouldn’t even give a back up of my private key to my wife. Why, you ask? You know the importance of that key, but she may not. Also, keep your finances stored on different devices within different wallets. “But then I can’t see how much I have in total. Or I will have to make many different transactions from many different wallets on many different devices to make different purchases!” Convenience is not secure.

Use a hardware wallet or another cold storage option. Keeping your money connected to the internet at all times keeps your money connected to potential hackers at all times. If your money can not be transferred electronically without first connecting a device physically to your computer, you are eliminating a huge possibility for anyone to steal your hard-earned assets. Only someone there in the flesh could be a potential threat. This is where you store your investments; the cryptocurrency you plan on saving and watching grow.

One more piece of advice: Don’t click on Google Ads. Google Ads are usually the first search result at the top of the list in a search utilizing the Google Search Engine. They are paid ads that are disguised as search results ensuring they will appear at the beginning. Most people believe that the search results are in order of relevance, and the ads take advantage of this fact. Convenience is not secure. Double-check the URL of any search result before accessing the web site. It could be linked to a site that installs malware just by visiting the domain. In fact, don’t click on anything that you aren’t specifically using or aren’t sure where it goes to. This includes banner ads, search results, and other kinds of re-direct hypertext links.

IS CRYPTOCURRENCY A MONEY OR AN INVESTMENT?

…or both?

While originally designed to be used as an alternative to traditional currencies, we find that a lot of users involved with cryptocurrency do not spend it; instead, holding on to it as a means of investing money similar to the stock market. Investors will purchase them and follow their trends and market value just as they would the items in a stock portfolio. Most cryptocurrency users will utilize cryptocurrency as both an investment and a money; saving a large portion for investment purposes and assigning another portion to be spent freely.

Some cryptocurrencies have seen the investors (not the spenders) as a dilemma. Not that it’s a bad thing to only invest in cryptocurrency, but without contributing to the liquidity of a currency, the overall value and usefulness can be affected significantly. To counter this, some cryptocurrencies have implored added features or gimmicks that promote spending and not saving.

Recently, ILCoin has become a part of the FreiExchange market for cryptocurrencies. Freicoin is their resident currency and has a demurrage fee (1). “Demurrage forces freicoins to circulate at deliberately high rates. Separation of money's roles as store-of-value and medium-of-exchange allows money to flow when it is needed, in good times and bad.” The demurrage fee for Freicoin is a flat 5% yearly fee which is automatically deducted from each currency owner and is used to help reimburse miners. This will ensure owners of the coin will use the coin and not just sit on it and lose 5% each year.

1) http://freico.in/

GIVING GIFTS THAT GIVE

Birthday, Christmas, Mother’s/Father’s Day, Valentine’s Day, Weddings, House Warming Party, Baby Shower, Naming Ceremony of Child, Bayrams, Epiphany, Bar/Bat Mitzvah, Tet, and New Year’s Day are just a few of the occasions where gift giving flourishes. Depending on where you are from on this planet, different gifts are considered acceptable for different occasions. On most of these occasions, money is a completely acceptable, if not impersonal, gift.

Giving the gift of cryptocurrency would be, in this author’s opinion, a step above a monetary gift of another kind; especially if the recipient does not know how to use cryptocurrency. It could spark an interest in them. They may want to learn all about how to use it if not just for the moment so they can convert it into a governmentally issued fiat currency. Even still, this creates more fluidity and daily volume for your preferred cryptocurrency thereby helping to increase its value.

Or it could be that their gift of cryptocurrency suddenly doubles in value; effectively increasing the value of the gift they receive. This could, in turn, also stimulate the recipient to want to invest even more into their account. Watching their invested gift grow even further could motivate them to also give cryptocurrency to others. Advertisement by word-of-mouth is one of the most powerful ways to spread information about a product.

Some words of wisdom for those considering giving the gift of cryptocurrency this year:

Don’t give wallets to people you aren’t willing to teach about cryptocurrency. If you give the gift, be prepared to follow through with the learning experience. In the end, we all benefit from more people knowing about cryptocurrency.

Regardless of who you give the cryptocurrency to, place an expiration date on the gift. Tell them they need to transfer the cryptocurrency to another wallet before a certain date. This will ensure they know enough about the money to create a new wallet and make a transfer. This will also ensure that anyone without an interest in the product won’t put to waste perfectly good coins.

How will you prevent the coins from going to waste? Keep back up information (including the expiration date) about each wallet you give. If by that date they have not completed their end of the gift giving experience, there is a way for you to recover the funds. No, I’m not saying steal from your loved ones. I’m saying some people just don’t have an interest in cryptocurrency. This also helps to prevent a lost wallet if they lose the back up information. Remember, they are newbies just learning how to use cryptocurrency.

This year, share your love for cryptocurrency with your loved ones!

BACK UP YOUR WALLETS!

It would be nice to collect the amount of money lost in cryptocurrencies. It isn’t even necessary to include the money from scams. Nor do we need to include the money from bad investments. To become incredibly rich, all that would be needed is the non-recoverable money people have lost while safely stored inside their undisturbed wallets; wallets that will remain undisturbed. Forever… Because the owner lost the password/private keys/storage device/mobile device/all of the above.

An article has already been posted here regarding paper wallets. Many, many articles have been written in the past few years by many different authors covering how to safely store, back-up, and recover your wallet. You wouldn’t open a bank account and then neglect to write your transaction PIN down some place safe. Neither should you create a digital wallet for storing digital assets without saving the information some place safe.

Back-up your wallets! Do it now!

Store your password, recovery phrase, and private key some place safe. Or… store them each in different safe places. If using one of ILCoin’s online web wallets, do not forget to save your URL! We can not find it if you do not.

SCAM COIN OR… SOMETHING MORE?

How can you tell if it’s worth your time/money? The market cap of cryptocurrency as a whole has grown in the past year; it now stands at over 400 billion dollars. As that cap grows, the number of scammers has grown with it. More and more people are falling victim to cryptocurrency scams due to the amount of crypto newbies that are just getting started the cryptocurrency world. As such, it is difficult to decide which cryptocurrency or token is a good investment.

The internet is full of people who believe they know a scam coin when they see one. Do some quick searching and you will see that when it comes to scams, everyone is an expert. There are even people who say every cryptocurrency is a scam, and they won’t buy anything unless it is with cold, hard cash. At the time of writing this article, there are over 1500 cryptocurrencies listed on coinmarketcap.com and not even ILCoin (it’s a conspiracy) is one of them. While it isn’t always clear which are scams and which are true cryptocurrencies, it is fair to say there are a few general guidelines which you should always take into consideration.

Company name changes are a huge red flag. Some developers/development teams change their company or product name to accommodate for the latest news trend. ILCoin, in the past, was a commodity currency. Hey, it seemed like the right thing to do in a time when cryptocurrencies didn’t have anything backing them except someone’s promise that it was real. However, even though we have since-then changed our policy, earned an independent value, and undergone an internal shift in managerial structure, that doesn’t mean we change our name. ILCoin bought two years ago sold by ilgamos is still the same ILCoin today.

When a company spends more on its public relations (PR) and marketing than it does on its development, you need to watch out. This is the kind of cryptocurrency that will have a website to sell you the crypto but will not even have a wallet online; much less an offline, mobile, or desktop wallet. ILCoin isn’t very widely publicized. While a heavy dose of PR is in our plans, we firmly believe that the development should be sound first. What would we promote? Promises? It is better we boast about our developmental achievements.

Any time the investment strategy of a token or cryptocurrency heavily promotes recruiting your friends/family and promises to reward you for doing so, beware. There’s nothing wrong with a company wanting you to share the information about the company with the people you know. Word-of-mouth advertising is an incredibly effective way to spread news of your product. When you get guaranteed rewards for recruiting, that’s when it smells of trouble.

As a developer of ILCoin, this author can testify first-hand how difficult it is for a cryptocurrency exchange market to put attention to your application to become a part of their site. There is an article written on that very subject called “Becoming Part of an Exchange Site.” However, not being part of an open exchange is considered a red flag. This is because the self-proclaimed cryptocurrency may not even have enough back-end development to be compatible with an exchange. An investigation should be undertaken before deciding whether or not you should place your trust in a cryptocurrency with this limitation.

If you cannot find simple information about a company? You may be heading for problems. Without finding a company’s street address or information such as where they registered the blockchain, it would be unwise to become involved financially. Any time basic details are missing, there is a red flag.

Depending on who you speak to, there are TONS of reasons more why you shouldn’t trust a cryptocurrency. Most of those reasons are grey areas and subject to bias. Others, are situationally-based or conditionally-based. For example:

•   Big Premine
   -ILCoin is a centralized, decentralized hybrid and we do not allow outside mining. There is an article about it called “De/Centralization.”

•   Owners/Devs have big wallets
   -A lot of times, the development teams are early investors in their own work purchasing a lot of their own coin for next to nothing when it is first released. Is it wrong to believe in and invest in your own product?

•   Daily trading volume way bigger than market cap

•   Lack of website, or website down for days

•   Owners/Devs failed at one coin, created another
   -Depends on the previous cryptos they were working on. Were they legit or scams themselves?

•   Coin uses same exact source code with same parameters like another coin
   -Starting out with a source code that resembles another cryptocurrency isn’t a bad thing. An exact copy of said cryptocurrency probably is, but even ILCoin is based from the code of Bitcoin; highly modified, but based off of Bitcoin.

•   Scam warnings posts being deleted from the forum

•   Invisible team, No project
   -Members of our team can be viewed on our website at ilcoincrypto.com. You may notice there are only three shown on the website. Not everyone who wants a job wants to be in the limelight. This author chooses to remain anonymous and go by the title ‘ILCoinDev’ because fame of any type does not suit me.

•   The company professes to be dedicated to a noble, altruistic cause
   -There can be great causes out there, but make no mistake: No one works for free without expecting some kind of beneficial outcome. Cryptocurrency is a great idea and has changed how money works, but it is also a business.

•   The company’s operations are located in a foreign country
   -It is hard to believe people put this on their list of red flags for a cryptocurrency. Everyone is a foreigner to someone. Americans are foreigners to Europeans. Europeans are foreigners to Koreans. With cryptocurrency being constantly penalized legally in an ever-increasing number of countries, sometimes the base of operations is best suited within another jurisdiction.

DIFFERENCE BETWEEN COMMODITY AND FIAT MONEY

The US Dollar is backed by two things: the US government and the people who believe it has value. In times past, the US Dollar was a commodity money; meaning, it had a physical backing of gold. If you wanted, you could even decide to exchange the currency for actual gold. Since about 1971, the US government stopped this policy due to the fact that, when times are tough, people horde valuable resources. If your currency is backed by a precious resource, such as with commodity currencies, the flow of economy slows drastically as people don’t want to let go of their money.

Since the 1970’s, the US Dollar has been a fiat currency. As mentioned in the first sentence, it is backed by the value of the issuing party and the trust that it is worth something; not its worth in gold or silver. Since the Federal Reserve has more flexibility to control supply and demand of currency, it is more able to limit the impact of major economic shocks, such as the financial crisis of 2008-2009. It's fair to argue that the Federal Reserve's efforts to limit the impact of economic crisis could have unforeseen long-term effects, based on the additional money that has been put in circulation, versus a gold or silver standard that limits how much money circulates. However, using a commodity standard has historically had a much worse, opposite effect during crisis as people horde it. So long as the government can keep the balance of supply and demand stable, fiat currency is the better choice between the two.

As cryptocurrency enthusiasts, we can take key factors away from this information. Cryptocurrency is much like fiat currency in that its value is backed by the issuing party and the trust in its users that it is worth something. It has yet to been determined whether its limited supply is a strength or a weakness in comparison to its fiat relative. In the beginning, ILCoin was backed by gold; following the golden standard. Now, it has severed that bond and has its own independent value and is backed by its community, development, and development team. We strive to make ILCoin revolutionary. Some of the upcoming developments (now in development) will be game-changers…

BITCOIN IS ONYMOUS, ILCOIN IS ANONYMOUS

If you get fiat currency as change from your grocery store, does it matter who had it before you? Knowing that money was previously used to purchase pornography, drugs, or used to pay someone for a corrupt deed, would you not accept it as change and use it to provide for you and your family? If you owned a flower shop and a known member of the mafia wanted to order flowers for his mother, would you turn away the business because the money might have been gotten through ill-gotten means? What the money was used for isn’t what matters. What matters is how you got it and how you use it.

Attempts to limit the Bitcoin blockchain come about which have the intention of flagging accounts that are tied to “illicit” activities. Chainalysis, Elliptic, Skry, and now Bitfury’s Crystal are all such programs which have the aim of limiting blockchain activity. Bitcoin was built upon the idea that you don’t have to trust a person to receive money from them. The blockchain assures you will receive what is rightfully yours in a transaction. With a currency that has no borders, such as cryptocurrency, who is to say that money was gotten legally (or illegally) since not all laws apply to every country?

ILCoin still believes in anonymity. ILCoin still believes that you have the right to trade with whomever you choose. It should be a freedom that all people can express. Our blockchain is completely anonymous and limits users from perusing around transactions. If you know the wallet address, you can monitor its actions. But, that is information privy to the users of the address. It is none of our business, or anyone else’s, where you get your money and how you plan to spend it.

CLOUD MINING

Do you know where Bitcoins come from?

In a traditional economy, the governing body prints bills so that people have money. In currencies like ILCoin and Bitcoin, it is necessary to mine them to obtain them (SHA 256, POW). To do this, miners use a special software that solves complex operations and, in return, they are compensated with some cryptocurrency. This is the reward from mining (the block reward) and what causes more people to want to mine the currency.

But it is not as easy as it sounds. Each time a block is forged, the mathematical difficulty of a block’s encryption increases. A PC or laptop - like the one you have in your house - doesn´t have the necessary power to mine cryptocurrencies for long. That´s why miners use special devices for this process. Avalon Miner, Antminer, or Ebit Miner are example names of special mining equipment. These devices produce a lot of hashing power and require a lot of electricity to work; making them expensive to maintain.

This is the reason why cloud mining emerged. Cloud mining is the process of mining Bitcoin, or any other alternative cryptocurrency, utilizing a remote datacenter with shared processing power between any number of individual computing devices. This type of cloud mining enables users to mine Bitcoins or alternative cryptocurrencies without managing the hardware. In most circumstances, the mining rigs are housed and maintained in a facility owned by a company specializing in mining and cloud mining.

Types of Cloud Mining

In general, there are three forms of remote mining available at the moment:

•   Hosted Mining
Lease a mining machine that is hosted by the provider.

•   Virtual Hosted Mining
Create a (general purpose) virtual private server and install your own mining software.


•   Leased Hashing Power
Lease an amount of hashing power without having a dedicated, physical or virtual computer. (This is the most popular method)

What are the benefits?

Here are some reasons why you might want to consider cloud mining:

•   No noise
•   No expensive electricity bills
•   No ventilation problems with hot equipment
•   Not technical issues with the mining equipment
•   Minor investment

THE PRICE OF SHARING

There are more than 2000 crypocurrency ATMs in the world spread out across 60 different countries. (1) Of those ATMs, over 900 support Altcoins. These numbers only stand to see a dramatic increase in the next couple of years. But what is the cost of interacting with them? That depends on the cryptocurrency you want to use.

Matt Weinberger wanted to purchase $1 USD from a Bitcoin ATM in Las Vegas, United States of America. (2) After putting $11 USD into the ATM, he was told it still wasn’t sufficient enough to process the transaction. Due to the value of Bitcoin, the mining/transaction fee was about $40 – $45 USD at the time. Because Matt Weinberger wasn’t familiar enough with cryptocurrency, it caused him a bit a grief and a loss of $11 USD.

A commonly parroted phrase within the cryptocurrency community is that Satoshi Nakamoto intended for Bitcoin to be “a fast, secure and inexpensive means of making payments without using the traditional financial system.” Although not entirely true, I can understand where the basis for this assumption comes from considering the original Bitcoin whitepaper states “The cost of mediation [of third parties] increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions.” (3)

This would have been feasible to digest when Bitcoin was around the $100 USD value for each coin. Now, with the value soaring above $10,000, it doesn’t seem likely that Bitcoin can fill the niche for which it was created. ILCoin, while not yet distributed through ATMs, could be the perfect solution for filling every day transactions with mining/transaction fees averaging in the factions of a US Cent. We have the goal of making ILCoin available all over the world through ATM services. Our intention is to allow individuals as well as small and medium business to trade easily and cost-effectively using our cryptocurrency.

(1) https://coinatmradar.com/charts/#cryptocurrency
(2) http://www.businessinsider.com/buying-bitcoin-from-las-vegas-atm-2018-1
(3) http://satoshinakamoto.me/whitepaper/

BTC OR XBT?

What, if anything, is the difference between these two ticker symbols?

There isn’t any difference in value because, at the same time, both ticker symbols are used to describe the same cryptocurrency. Both of them refer to Bitcoin (BTC) but are used interchangeably depending on the place you found them. For example, Bloomberg uses XBT as does xe.com. The reason Bitcoin is often shown with the ticker symbol XBT is because of the ISO 4217 (the standard for currency codes). (1) The “X” represented in the ticker symbol defines that the currency is a non-governmental unit. One could argue that the symbol should then be XBC because it is representing “Bit” and “coin.” Alas, this symbol was already in use. Hence, the final ticker settled at XBT. For now, they are interchangeable; XBT for regulatory purposes and BTC for everything else.

(1) https://en.wikipedia.org/wiki/ISO_4217

SHA-256

SHA is an acronym meaning ‘Secure Hash Algorithm’. It is secure because the input/output is essentially a one-way street. You can enter any value of any length and the encrypted output will always be the same fixed length. This makes it impossible to decrypt and decipher the original input without the hash key. The public key is 256 bits long however it is generally hashed to produce an address 160 bits long for convenience. This is the reason it is named 256.

THE PYRAMID SCHEME

A lot of potential users of cryptocurrency choose not to get involved due to fear that it is eventually a scam and a pyramid scheme. When, in reality, they participate in a pyramid scheme on a daily basis; it just works differently than they are taught. I can’t speak for anyone else, but when I was growing up, I was taught that you go to work and you get paid for doing so: That’s how the world works. …And it does work, to a certain extent. However, there is one catch. Time is a limited resource.

Money works like a pyramid; it starts at the top and flows down to everyone else. In fact, there’s a pyramid on the dollar itself. That’s the irony of it. Printed money is more of a pyramid scheme than cryptocurrency. The money is minted at the top of the pyramid by central banks and then slowly trickles down to everyone else. The problem being, it is well-filtered many times before you receive any. In fact, the only reason you have any money at all is because you had to labour for it or take out a loan (not including illegal methods such as theft).

Think of economics as you would any game in life. You want to maximize the advantages for your team. Those who control the flow of money do nothing different; maximizing the advantages for those on their team and keeping it for as long as possible. This is why every economic system of the world has distributed money from the top down. This means most of the money never really leaves the top. Since money is power and power is an advantage in the game, no one wants to willingly give it up. Today, the richest 1% of the world’s population own more than half of the world’s wealth.

I’m not suggesting a solution. Up until now, this is how life has been and is currently. Don’t believe in the allusion of fiat currency being any more fair than a cryptocurrency.

Greetings alex35rus35,

Perhaps you could ask again rephrasing the question. I don't understand.

what for a coin ilcoin test?

MINER’S FEE AND VALIDATION

Mining is needed to ensure fairness and for keeping the network stable, safe and secure. The miner’s fee is a very tiny amount you pay (fractions of a crypto) to perform a transaction. As you make a transfer of money (whether it be from one account to another or to pay for a service), the payment must be verified by a miner to assure that there isn’t any discrepancy.

Through private-key cryptography, the miners are able to assure that the amount sent is from a wallet that approves the transaction. If this process wasn’t included in the transfer, anyone could send coins from your wallet to another wallet just by knowing your public key (wallet address). For this checking process, the mining fee is charged. It is more than a fair trade for keeping your investment safe and making sure no one is spending your hard-earned cryptocurrency.

Most services that receive cryptocurrency as payment require a certain number of verifications before they consider the cryptocurrency to be securely transferred. This is because for every verification, a block has been mined. If a transaction has 6 verifications, 5 blocks have passed after the block that contained the transaction. This assures that the block that contains the transaction wasn’t soft-forked and orphaned (see our post “Forking Cryptos”).

THE BENEFIT OF DECENTRALIZATION

“Imagine you lived in Syria right now. Your central infrastructure is destroyed, as is your money. You don’t want the war, but there’s nothing you can do about it. Now your house is gone, your friends and family are dead, your banks are bombed out and you’re cast out, adrift, homeless and penniless. Even worse, nobody wants you. The world has shifted from open borders to building walls everywhere. You’re not welcome anywhere, you can’t stay where you are and you’re broke.
But what if your money was still there, recorded on the blockchain, waiting for you to download and restore a deterministic wallet and give it the right passphrase to restore it?”
   -Daniel Jeffries

Decentralized systems are much harder to attack. It is much easier to uproot a weed if there is a stem attached to the roots. Centralized systems are much easier to destroy with a ‘decapitation’ of the body.

Don’t believe your country would do such a thing? Remember the Australian Craig Wright?

“Police gained entry to a home belonging to Craig Wright, who had hours earlier been identified in investigation by Gizmodo and Wired, based on leaked transcripts of legal interviews and files. Both publications have indicated that they believe Wright to have been involved in the creation of the cryptocurrency [Bitcoin].” (1)
   -The Guardian

But let’s imagine another situation. What if you owned a great deal of cryptocurrency and lived in a country where it became illegal to do so? Before 2014, it was legal to trade cryptocurrencies freely in EVERY country. Last year, many countries banned cryptocurrency usage within its borders. (2) An early investor with 10,000 Bitcoins (or perhaps only a couple thousand, even) would now be sitting on a retirement.

Decentralization, anonymity, without national borders, downloadable public ledger system… These are all favourable points towards using cryptocurrency. Sure, there are also counter arguments; there are always valid points to both sides of a story. This is why fiat currency will never go away. But, that is for another topic!

1. https://www.theguardian.com/technology/2015/dec/09/bitcoin-founder-craig-wrights-home-raided-by-australian-police
2. https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

MARKET CAP

Please consult a financial adviser before making any decisions about investing.

“Market cap measures what a company is worth on the open market, as well as the market's perception of its future prospects, because it reflects what investors are willing to pay for its stock.”
-Fideliy.com

Market capitalization, or market cap, for a cryptocurrency is simply how much the cryptocurrency would be worth if you were to add up all of the circulating supply and multiply it by the value of the crypto. For example, Bitcoin stands at $195,353,900,080 USD at the time of writing this article. There are 16,813,025 BTC circulating at this time and each one has a value of about $11,619.20 USD.

What does this information mean for you? The per-share price of a cryptocurrency is thought to convey some sense of value relative to other cryptocurrencies, but nothing could be farther from the truth. The market cap is a rough estimation of a company’s worth, and should, therefore, be a rough starting place when considering doing business based off of financial interests alone. If you believe in a company or a company’s product, that is another reason altogether to invest in a company which looking at market cap might not help.

ICO RISK

Please consult a financial advisor before making any decisions about investing.

If you look online, you will find a bunch of information that will tell you, “Yes, you should invest in an ICO.” Websites will just give you the positive aspects of investing in an ICO without telling you the risks involved. Then, perhaps they will even go on to give you a short list of ICOs they recommend. ICOs are like any investment risk; you may lose. Whenever looking at an investment of any kind, you always want to look for the ideal standard: Low Risk, High Return of Investment. Even if you were to find a potential investment opportunity that appeared to be in such pristine circumstances, there are still other factors to consider.

Underfunding can, for obvious reasons, cause you investment to become a poor one. If underfunding is extreme, the project will fail. However, there is a hidden benefit to underfunding; if the ICO is successful, less people will receive the tokens which (if the tokens are interchangeable) could drive up the price in the marketplace as few people will possess them. This rarity is the core principle behind the cryptocurrency Unobtainium.

Overfunding can be a bad thing also. An ICO that is too successful could have the opposite effect and could potentially cause the value of each token or coin to reduce as the market could be flooded with everyone wanting to trade massive quantities of a token everyone already owns.

Fraud, while not quite as prevalent in today’s ICO market, is still a factor. Will the company I want to invest my money in complete their end of the deal once the ICO is over? Unfortunately, there were a few bad apples in the beginning of the ICO era. They caused a distrust within the cryptocurrency ICO community that hasn’t, and won’t, go away easily. Trust is a fragile thing; hard to obtain and easy to break.

WHAT IS A SIDECHAIN?

A Sidechain can be described as a parallel blockchain element to a blockchain. It allows a safe environment for testing code, running new applications, and for sandboxing new features. It wouldn’t be independent, however. A sidechain would need the blockchain to function. They allow for something called “Non-Interactive Proofs of Proof-of-Work” (1).

Information could be shared between the two with an informatic connection called a “two-way peg”; which is just a fancy way of saying information can be passed between the blockchain and the sidechain at will through a communication portal. While sidechains may be a great advancement in blockchain technology, they are far from perfected. Many see them, in their present state, as security risks. With market values reaching into the billions for some cryptocurrencies, any chance there could be a security issue is too much of a risk to be taking.

1. https://eprint.iacr.org/2017/963.pdf

WHAT HAPPENS WHEN ALL BITCOINS ARE MINED?

The short of it is: No one knows.

At this moment, it’s all just speculation. Some argue that the price of Bitcoin will be worth nothing when this comes to pass, while others believe that due to the lack of additional Bitcoins, the value will increase.

The most important thing to keep in mind is that this will not come to pass for roughly 100 more years. Imagine Bitcoin 100 years ago. You can’t. It didn’t exist. There will probably be another technology available for currency exchange in the future and thinking about that time you worried when all the cryptocurrency was mined will make you chuckle at yourself.

MINING DIFFICULTY EASILY EXPLAINED

What is mining difficulty? The blocks of a cryptocurrency are encrypted (hence the name cryptocurrency). To overcome that encryption and forge the block, which also produces new coins, a certain amount of processing power must be applied. This processing power is called the hash rate. The difficulty of the block is called the hash. The hash adjusts automatically after a certain number of blocks have been forged depending on how much hash rate is applied to solve the hash of the blocks. The amount of hash rate needed to solve the hash of a block is called the mining difficulty.

As more miners want to mine a cryptocurrency, more computers are connected to the mining node causing an increased hash rate to be applied to solving the blocks. This causes the blocks to be solved very quickly, but also causes the mining difficulty to increase accordingly when it adjusts automatically. As mining difficulty rises, the value of the cryptocurrency needs to rise at the same time so miners can retain the same value for their hashing power. If the value doesn’t raise, miners begin to gain less and less money mining the same cryptocurrency with the same hashing power.

What does this mean for you? Nothing! You use only ILCoin, remember? Sit back and relax: The ILCoin Development Team takes care of this for you because we do not share mining privileges. This is for your information only. However, if you are also using another cryptocurrency, there is some merit in understanding what the mining difficulty does and how it affects the cryptocurrency you use.

BECOMING PART OF A CRYPTOCURRENCY EXCHANGE

One of the biggest goals of any cryptocurrency worthy of your interest should be to become freely interchangeable between participants of the cryptocurrency’s community. One of the easiest ways to accomplish this is by applying for and becoming part of a cryptocurrency exchange site that is already in existence and operational. This is also a great way to publicize our cryptocurrency as most of these exchange sites already have their own active community. More people who weren’t aware of our cryptocurrency would be able to see it as a potential trading pair. Unfortunately, this is easier said than done. ILCoin is branching out in a big way and I wanted to share with you some of my personal experience with exchange applications.

It is somewhat of an understatement to say there are a LOT of cryptocurrencies circulating; everything from Monkey Project (MONK) to Ammo Reloaded (AMMO) to FuckToken (FUCK) and a whole mass of others. At the time of this article, coinmarketcap.com, alone, has 1400 cryptocurrencies listed. That number increases continually, and every one of those assets are looking for market depth.

This causes exchange sites to become increasingly stricter with which cryptocurrencies they accept. Implementing a cryptocurrency into an exchange takes resources such as time, money, and human effort; all three of which are highly prized in this life. The application process could be anywhere from “Give us a bunch of money and we still won’t guarantee you’ll be added” to “We will perform a complete background investigation and won’t charge you. But if one thing is out of place, forget about it.” Usually, most exchanges fall somewhere in between. That is, if they even respond to your inquiries. With so many inquiries of other cryptocurrencies, many times your inquiries just get lost in the spam folder or among the masses.

While it isn’t easy-going, ILCoin will not give up the struggle to see our cryptocurrency a highly-valued asset in the hearts, minds, and digital wallets of individuals everywhere. We want to see ILCoin in forum publications, chat boxes, exchanges, and eventually ATMs. This year will be a grand year for ILCoin.

You can find ILCoin freely traded in the following places:

• -CoinsExchange.io: https://www.coinexchange.io
• -C-CEX: https://c-cex.com
• -CrypTrader: https://cryptrader.com/

PAPER WALLETS

The wallet with the most cyber security is a wallet that isn’t even stored on a computer. What makes a wallet a wallet? You need at least two crucial parts:

• -Public Key: The address of the wallet that allows you to receive cryptocurrency.
• -Private Key: The secret alphanumeric key that you should never show anyone.

In essence, a ‘paper wallet’ is a back-up of your digital one; thereby allowing you to destroy the digital one without losing any cryptocurrency. Unless something happens to that paper, you should be able to recover your wallet any time using the wallet information on the paper.

Personally, I back up my wallet with many points of information:

• -Public Key
• -Private Key
• -Brain Wallet Hexadecimal
• -Recovery Phrase
• -Wallet URL (If Online)

It is important to consider how you are going to handle/store the information as a paper wallet is, quite literally, usually made of paper. It would be wise to place the paper into a plastic bag to protect it from moisture. Another good idea is to store a couple of copies of the information in different places such as a fireproof safe or with a trusted family member. I keep one of my copies hidden inside of an unostentatious book on my bookshelf.

WHICH CRYPTOCURRENCY SHOULD I INVEST IN?

ILCoin (ILC). Invest in ILCoin.

Thanks for reading.

See you next time.

Ok, ok. In all seriousness, this question deserves a bit more attention. There are several factors that one could look at when judging whether or not to invest in a cryptocurrency; technological advances, market cap, supply and liquidity, network security, usability, ect…

There are so many factors when looking at a cryptocurrency, the answer is always the same assured one:

‘I don’t know. No one knows.’

If you are considering investing into a cryptocurrency, you should look at the factors mentioned above. Look also at the movements (present and upcoming) that a company isn’t just planning on making, but rather movements towards beginning or completing. (*nudge* *wink* Smart Contracts *nudge* *wink*)

At the end of the day, its going to come down to a lot of investigating and a bit of luck.

SECURITY

For as long as someone has wanted to hide something (and/or someone) and/or safeguard something (and/or someone), there have been security measures created and constantly improved upon to complete this task. Hiding, guarding, placing behind obstruction, and other methods have been solutions to security both in our daily lives and on our computers. For example, you might hide a file inside of a hidden archive. You could guard information using an antivirus or could keep your information behind obstructions such as firewalls.

Knowing what security is in place would help facilitate an entry to such defences. If you know a house has a fence two meters tall, three guard Dobermans, an alarm system with an average police response time of seven minutes, and a heavy grade safe with the information inside, you could better prepare for the task of obtaining access to such a place. The same holds true for internet security. If access to something restricted was well encrypted, it could take a very, very long time to secure an asset by brute force (the act by which a computer guesses all possible combinations until the correct one is achieved). However, if the combination of characters, symbols, numbers, and letters was known (even without knowing which ones they were) the process to brute force the encryption could be relatively quick. It would be much easier to access a restricted asset if you knew the password had 15 letters, 4 numbers, and 2 characters.

Web application firewalls (malicious script protection), access controls (backdoor protection), bot protection (distinguishing bad bots from good, helpful ones), login protections (two-factor authentication), intrusion protection systems (abnormalities with logins), and secure socket layer (encryption between web server and browser) are all crucial in maintaining a website safe. Most professional websites have all of these and an ace or two up their sleeve. A hacker would want to know exactly which of these products are in place and would prefer to know which service provider is being used. One firewall might have a debility another firewall does not.

FORKING CRYPTO

Forks occur regularly within cryptocurrency and their Blockchains, and there are two main types of forks: hard fork and soft fork. But what causes a fork and what is it?

When the Blockchain is forging blocks and it finds two blocks that have different information, the Blockchain always chooses the block with the most sequential blocks chained behind it as the correct one; this is where the Blockchain forks. Most forks that occur on the Blockchain are automatically solved in this way. Transactions that occurred on the blocks attached to the shorter chain are dropped off. These transactions are usually stuck at “processing” or “waiting for confirmations” for a few days and then the funds are normally recalculated to their sender’s amount. These are called Orphan Transactions.

A hard fork occurs when a different rule set for a Blockchain is implemented. This has inadvertently created new cryptocurrencies as not all of the users of a cryptocurrency have to be in accordance with this new rule set. Examples of this are Bitcoin Classic (BCH) which forked in 01 August 2017, and Bitcoin Gold (BTG) which forked 24 October 2017. The resulting cryptocurrencies are completely legitimate in their own right; they just follow a different rule set and, because of it, have their own consensual Blockchain network for verifying transactions made by the subsequent cryptocurrency. Essentially, everyone who wishes to change to the new rule set (miners, users, and merchants) will have to upgrade to the new code.

With a soft fork, only the miners have to upgrade to the new code. If they do not, and they have less than 51% of the hashing power to create new blocks, they would eventually be overtaken by the chain fork created under the new rule set standard.

SEGWIT AND THE LIGHTNING NETWORK

To understand what SegWit (Segregated Witness) does, you first have to understand the scaling problem of Bitcoin and potentially all cryptocurrencies based off of Bitcoin technology. The scaling problem is explained simply as: Bitcoin wasn’t designed for so many transactions per minute.

Each transaction consists of important data such as: the sender, the recipient, the amount of Bitcoins being transferred, etc. That data takes some space, which is quite insignificant when talking about a single transaction; however, it adds up when there are hundreds of transactions taking place every minute. The signing of a transaction essentially confirms that the person sending an amount has that amount to send and is, indeed, the person who owns that quantity of cryptocurrency.

The SegWit solution has two parts:

• -It allows for more SegWit transactions per block because it removes (segregates) the signatures from the block and places it separately following each block
• -It enables the use of a “Lightning Network”

The Lightning Network is a second layer to run on top of the base blockchain layer, hypothetically resolving the scaling problem by enabling virtually unlimited numbers of instant, low-fee transactions to occur "off chain" on a separate channel. Then, once the channel is closed, the final status of the transactions that occurred through the channel is written on the Blockchain.

As of the writing of this article, the Lightning Network is not in use, but is in developmental stages being tested on the Bitcoin’s Test Network.

There was a “SegWit2x” proposed that would have also increased the size of the blocks on the Blockchain to 2MB; further allowing for more transactions to be processed on each block. It did not receive the voting consensus needed to pass.

Thank you for writing us, cryptomngr! I would say, the same thing that makes you invest in other cryptocurrencies; you believe it will be useful to you.

Looks like a good project to watch,just a question what make us invest in this coin?

PROOF OF WHAT?

-Proof-of-Work (POW) – Decentralized. Requires many physical computers and a lot of processing power to decipher the encrypted block to forge the Blockchain. Arguably less corruptible.

-Proof-of-Stake (POS) – “Centralized.” Requires much less resources since you only need to own the coins to ‘stake’ your mine. More price stability due to miners not selling coins. Arguably more secure.

ILCoin uses Proof-of-Work consensus, however, we do not open our doors to let anyone mine. Why? By refuting other miners, we eliminate many of the negative aspects of the normal PoW model.

• -Cost Effective – Our closed mining network is what allows ILCoin to ease off of the processing power if few transactions are being made and to amp it up in times of high traffic. More power means more blocks being processed in less time. Even during times of low traffic, our transaction processing time doesn’t average more than 15 minutes.
• -Cost Stability – For that same reason, we do not greedily burn through our mining equipment trying to compete for new blocks and their rewards. Then, take those block rewards and sell them to the highest bidder trying to gain back the money we spent on electricity and equipment maintenance.
• -51% of What? – One of the biggest debilities of Proof-of-Work is considered the 51% attack. If there are no competing miners, there is no one who can corrupt the Blockchain by using more processing power. Developing and maintaining a cryptocurrency requires a huge investment of time and money. By centralizing the mining, there isn’t a distributed consensus, but to falsify any aspect of a block would be to harm ourselves, our coin, and our investment.
• -Security – One of the biggest disputes of POW vs. POS involves the security of the cryptocurrency. As mentioned above, without a 51% attack, there isn’t a risk of any entity inserting incorrect information into our data.

As you can see, ILCoin uses a Proof-of-Work consensus algorithm but by restricting mining nodes, we make our cryptocurrency secure, cost effective, and stable. In doing so, we are able to take many of the positive aspects of Proof-of-Stake and apply them to our system of forging blocks.

WHAT IS MINING?

Every day ILCoin employees grab their hardhats, shovels and pickaxes to trudge off into the underbelly of the economic world to haul out carts full of precious ILCoins. But where, exactly, do these ILCoin come from?

Imagine you have an onion with many, many layers. As you peel off the layers, they get harder and harder to peel off. Once you peel off all of the layers, the only layers of that particular onion that will ever exist are already in circulation among the hungry populace. As there are many mouths to feed and the more people that like the taste of your onion, the more valuable each layer will become.

A cryptocurrency’s algorithm is the onion. Peeling off the layers is the mining process which forges the blocks; extracting new coins and allowing transaction processing. Once all of the coins are mined, no more coins may be produced and the computers that once mined simply produce “phantom” blocks with just the transactions but without new coins. The more well developed a cryptocurrency becomes, the sweeter the taste its coins will have.

This is why ILCoin dedicates as much effort as is possible into its development. We want our onion to be your favourite food. But like all cryptocurrencies, you should be patient with sharing that onion; it only gets more delicious over time like a fine wine.

CRYPTOCURRENCY ANONYMITY

Using cryptocurrency can be completely anonymous. There are many services, including ILCoin, that do not require any information from the user to create a wallet and to begin trading. Many cryptocurrency exchanges only require an email and a wallet number to begin trading. If you were to look on a cryptocurrency’s Blockchain, you can see the transactions within each block. Each transaction has a lot of information regarding its involvement within the block it was processed, however none of this information is directly pertaining to the sender or the receiver of a transaction except the wallet addresses (sender and receiver) and the amount sent. Unless someone knows you are the owner of a particular address, it is anyone’s guess as to who the address belongs.

How then, can you keep your transactions private once someone knows your address? The number of addresses you can create is practically infinite (296 possible combinations). You could, if you wished, create a new wallet number for each and every transaction. Or, a simpler method would be to create a wallet for each person with whom you do transactions and/or business. Some wallets, such as the ILCoin QT Wallet or the Bitcoin Armory Wallet can create a new address for you automatically each time you receive or send a transaction.

There is a new technology called “bulletproofs” being released that can be implemented into the Blockchain’s code that allows all normal Blockchain information to be viewed except for the amounts being transferred.

ILCoin’s Blockchain is completely anonymous. If you know the wallet address, you can view the transactions. However, if you do not, you can not simply peruse around and see what transactions and quantities go where. Is the anonymity of your addresses compromised? Simply create a new one!

WHAT IS A BLOCKCHAIN?

The easiest way to describe a Blockchain is to imagine an open ledger (also called a distributed ledger technology). Everyone can view all of the transactions made on the network which the Blockchain resides. As more and more transactions are completed, Blocks are added in a chronological order (chained) as records of those transactions. “Currently, the technology is primarily used to verify transactions, within digital currencies though it is possible to digitize, code and insert practically any document into the blockchain. Doing so creates an indelible record that cannot be changed; furthermore, the record’s authenticity can be verified by the entire community using the blockchain instead of a single centralized authority.” (1)

Actually, the Blockchain is the invention of the 21st century with the most potential thus far. It could be applied with slight differences to be applied to voting systems, registrations, medical and legal records, or ownership certificates for valuables. It is the system on which ILCoin’s Smart Contracts will be built. It will provide an open, transparent way for all parties involved in a Smart Contract’s signing to see the conditions become fulfilled and the contract realized.

“The first blockchain was conceptualized in 2008 by an anonymous person or group known as Satoshi Nakamoto.” (2)

(1) https://www.investopedia.com/terms/b/blockchain.asp

(2) https://en.wikipedia.org/wiki/Blockchain

DE/CENTRALIZATION

“Decentralization is the process of distributing or dispersing functions, powers, people or things away from a central location or authority.” (1)

Centralization is specified in three different ways: Architecturally, Politically, and Logically.

- Architecturally: How much of a physical network can be inoperable at the same time yet the network still functions

- Politically: How many people control the physical network

- Logically: If both the physical network and the people controlling the network are cut in half, will the system still function correctly

Cryptocurrencies, and the Blockchains they operate on, are Architecturally and Politically Decentralized because they don’t need more than one computer to maintain the registry and more than one person to operate that computer. The Bitcoin network is made up of hundreds of thousands of computers run by individuals all over the world. At the time of this article, there have more than 10 million users according to Coinbase.com. You can cut the number of people and computers in half until only one of each remain and the system can rebuild itself as soon as more are reconnected. The Blockchains synchronize in a harmony of Logical Centralization; they share the same rules set and the system behalves like a single computer.

ILCoin is a centralized/decentralized hybrid combining elements from both to create a unique system that:

• -Eliminates 51% attack risk (Centralized)
• -Fixes scalability issues (Centralized)
• -Keeps transaction fees / energy cost low (Centralized)
• -Anyone can download and check the block history (Decentralized)
• -Provides a multiple node system, increasing stability (Decentralized)
• -Offers complete anonymity (Decentralized)
• -Is without national borders (Decentralized)

(1) https://en.wikipedia.org/wiki/Decentralization

WHAT HAPPENED TO e-GOLD?

e-Gold (1), and their competition e-Bullion, were digital currencies operating out of the USA before Bitcoin was created. They were processing more than $2 Billion USD (each!) worth of spends annually before their demise. So how did Bitcoin succeed as a cryptocurrency where e-Gold failed?
Money is power. It always has been. The great rulers of the past knew this and, therefore, controlled the money. They only gave permission to themselves to mint the money, gave wages to insert the money into society, then charged taxes to recover the money back into the royal coffers; thereby, maintaining the power and the control of availability of money. When the USA government saw another entity controlling the power of their kingdom, it was time to cut the head off of the snake. E-Gold had four easily-identifiable leaders; it was just a question of finding a believable, legal way to enact a coup.

The USA Patriot Act gave them the answer they were looking for. It required e-Gold to have a state money transmitter license to continue operations. E-Gold did not fit under this new statute. The US government then stretched the definition even further to include any system that allows transfer of any kind of value from one person to another, not merely national currency or cash. Then, they “proceeded to prosecute the USA-based gold systems, e-gold (and later e-Bullion) under the USA Patriot Act for not having money transmitter licenses, even though these companies had previously been cooperating with regulatory authorities.” (1)

And, thus, the head was severed from the body in one fell swoop of USA’s sword. But Bitcoin isn’t a snake; it is a Hydra. Everyone who has a Satoshi or more is the owner of Bitcoin. Where one head is cut off, two more grow back in its place. More and more Hydra are born with the passing of time; ILCoin is one of them. Bitcoin (and all other cryptocurrencies, such as ILCoin) is giving power to people.

Satoshi Nakamoto, wherever you are, remain anonymous. The governments keep their swords sharpened…

(1) https://en.wikipedia.org/wiki/E-gold

WHAT MAKES A CRYPTOCURRENCY GOOD?

There is essentially one difference that makes a cryptocurrency stand out among the rest: development. This holds true for every cryptocurrency since the original Bitcoin. Bitcoin is the only different, successful cryptocurrency because it was developed by the community that believed in it and its potential. Remember in 2010 when the first pizza purchased with cryptocurrency was bought for 10 000 Bitcoin? That was a major turning point for Bitcoin because everyone who, before that purchase, only saw Bitcoin as being ones and zeros on a computer screen now realized that cryptocurrency could be used. But it didn’t get to the point of being able to purchase a pizza overnight. It had a whole community of loyal developers who believed in Bitcoin working to make it become something!

Ethereum (ETH) is another great example. You could read the changelog for a very long time to see all of the development that has gone into building the cryptocurrency into what it has become today and, at the time of writing this article, Ethereum (ETH) is worth $750 each.

Here are some links to front-end development of ILCoin:

Website: https://ilcoincrypto.com/

Blockchain Explorer: https://ilcoinexplorer.com/

Official Web Wallet: https://ilcoinwebwallet.com/

Official Android Wallet: https://play.google.com/store/apps/details?id=wallet.ilcoin

Exchanges: https://www.coinexchange.io, https://c-cex.com, https://cryptrader.com/

Cryptocurrency Listing Sites: https://www.worldcoinindex.com/coin/ilcoin, https://coinmarketinfo.com/, https://www.cryptocompare.com/coins/ilc/overview

IS BITCOIN A SCAM?

At the time of writing this article, http://www.debate.org shows 54% of people say “yes” Bitcoin is a scam.

Imagine for a moment that the government issued a voucher that had a defined value; a fiat currency, if you will. Then, after a time, the government says they do not recognize that fiat currency as having value and anything of value that you were to have traded to obtain the voucher will have been lost. Have you tried entering a bank recently and putting a fistful of fifty-five-dollar Continentals (1) into your bank account?

Now let us consider Bitcoin. No one person controls Bitcoin; it is owned by countless people across a great number of countries. For it to become a scam, each person in every participating country who owns Bitcoin would have to agree that it holds no value; thereby losing all money they invested in Bitcoin. The major difference between the government example and Bitcoin being that the government can control the value of the voucher completely by issuing no money to investors. As long as there is a demand for Bitcoin, there will be value.

(1)   https://en.wikipedia.org/wiki/Early_American_currency#Continental_currency

WHAT IS A CRYPTOCURRENCY?

Cryptocurrency is money 2.0; or rather a form of digital fiat currency. Why is it like fiat currency? It has no physical value itself; it just represents a value. Even fiat currency has more of a physical value than cryptocurrency. Did you know if you added up all the value of every U.S. penny together, it costs more to produce and use them than all of their value put together? What determines the value of a cryptocurrency (or any fiat currency, for that matter)? Supply and demand… it is worth what people are willing to pay for it.

So why use cryptocurrency and not a traditional, physical fiat currency? It has many advantages over traditional money. To name a few:  there are no central banks determining its value and controlling the flow of its creation; countries are not involved in determining a cryptocurrency value so one nation’s economy cannot affect it dramatically; it has the lowest transfer fees which are unaffected by country borders or distance.

There are even many more advantages to having and using cryptocurrency. Like it or not, cryptocurrency is the future of money. What is the disadvantage? Cryptocurrency is still in its early stages of use and, therefore, is not accepted everywhere. I bet you would be hard-pressed to find someone who hasn’t heard of a US Dollar. But to find someone who hasn’t heard of Bitcoin or ILCoin, you need only ask around on your neighbourhood block.

THE EVER-CHANGING PRICE

Cryptocurrency prices go up because more people want to buy than sell.  When this happens, they begin to bid higher prices than the cryptocurrency has been currently trading.  On the other side of the same coin (pun intended), cryptocurrency prices go down because more people want to sell than buy.  In order to quickly sell their shares, they are willing to accept a lower price. The same holds true for any commodity of anything valuable since the dawn of trading and is how our stock market has functioned since its inception years and years ago.

With cryptocurrency, almost everything rises and falls like the tide. But what is pulling the tide? Bitcoin (BTC) is the enormous gravitational force behind the ebb and flow. When it pulls upward, most all of the cryptocurrencies (including our beloved ILCoin) get pulled up with it. And when it pushes down, most also get drug down with it.

SMART CONTRACTS

With the closing of 2017 and a successful ICO under our belts, we begin development on the SHA-256 Smart Contract System that will be in place before the closing of 2018. Let us take a brief moment to describe in a simple way how Smart Contracts work:

The term "smart" describes the ability of an electronically signed agreement (contract) to execute itself once the predetermined requirements have been fulfilled. Two parties agree to a task to be completed and an amount of cryptocurrency to be interchanged once that task is done; these are the requirements of the electronic agreement. Automatically, an amount of cryptocurrency is transferred and the Smart Contract fulfils itself. There can be other factors that come into play when designing Smart Contracts such as multiple requirements, multiple payments to be sent at intervals, time limits, etc. It sounds simple but coding for Smart Contracts is intensive.

Smart Contracts may be programmed to be used with many situations including: Property, Financial Services, Credit Enforcement, Copywrite Prevention, and much more!

Who we are?
 
ILCoin is a modern alternative to Bitcoin developed by R&G GmbH, using SHA-256 encryption technology. ILCoin is not dependent on the present banking system. It has its own independent value. There are 2.5 billion ILCoin available. Over 80 000 people use ILCoin; mostly residing in Asian countries such as Vietnam and S. Korea. We are looking to expand this audience greatly.

ILCoin Official Website: https://ilcoincrypto.com/

What makes us different?

In a market saturated with forgotten altcoins, ILCoin is always upgrading its source code with the latest technologies and developments to offer users the newest, most secure version of software possible.

The SHA-256 Smart Contract system is in development and will be released sometime in 2018.
 
Our Blockchain and Consensus Model

ILCoin Blockchain Explorer: https://ilcoinexplorer.com
Average Block Time: 6 – 15 minutes

ILCoin uses Proof-of-Work consensus, however, we do not open our doors to let anyone mine. Why? By refuting other miners, we eliminate many of the negative aspects of the normal POW model.

• Cost Effective – Our closed mining network is what allows ILCoin to ease off of the processing power if few transactions are being made and to amp it up in times of high traffic. More power means more blocks being processed in less time. Even during times of low traffic, our transaction processing time doesn’t average more than 15 minutes.
• Cost Stability – For that same reason, we do not greedily burn through our mining equipment trying to compete for new blocks and their rewards. Then, take those block rewards and sell them to the highest bidder trying to gain back the money we spent on electricity and equipment maintenance.
• 51% of What? – One of the biggest debilities of Proof-of-Work is considered the 51% attack. If there are no competing miners, there is no one who can corrupt the Blockchain by using more processing power. Developing and maintaining a cryptocurrency requires a huge investment of time and money. By centralizing the mining, there isn’t a distributed consensus, but to falsify any aspect of a block would be to harm ourselves, our coin, and our investment.
• Security – One of the biggest disputes of POW vs. POS involves the security of the cryptocurrency. As mentioned above, without a 51% attack, there isn’t a risk of any entity inserting incorrect information into our data.
• Green POW – As mentioned, we only process transactions with as much mining power as is necessary. This severely lessens our environmental footprint versus other Proof-of-Work communities. We have also been researching the best forms of solar and wind energy for implement in our mining installation and lessen our footprint further.

As you can see, ILCoin uses a Proof-of-Work consensus algorithm but by restricting mining nodes, we make our cryptocurrency secure, cost effective, and stable. In doing so, we are able to take many of the positive aspects of Proof-of-Stake and apply them to our system of forging blocks.

Thanks to the centralized nature of ILCoin mining, developmental work on the blockchain, the wallet and the explorer is a continuous effort kept under tight control. We will be the first blockchain with SHA-256 technology to be able to create Smart Contracts. The ILCoin development team has successfully increased the block size to 200 MB making it possible to execute an almost infinite number of transactions in seconds with virtually no costs or fees. The system is already capable of handling up to 5.9 million transactions per second, and it is compatible with today’s crypto platforms.

ILCoin’s Blockchain is completely anonymous. If you know the wallet address, you can view the transactions. However, if you do not, you cannot simply peruse around and see what transactions and quantities go where.

Our Wallets

ILCoin can be safely stored in wallets built for the cloud, Android, OSX and PC and it can be transferred directly to anyone instantly at virtually no cost - without banks, without chargebacks.

Official ILCoin Web Wallet: https://ilcoinwebwallet.com/

Official ILCoin Android Wallet: https://play.google.com/store/apps/details?id=wallet.ilcoin

Official ILCoin / Bitcoin (BTC) Android Wallet: https://play.google.com/store/apps/details?id=ilcbtc.wallet&hl=en

ILCoin Listings

Bitgup
https://bitgup.com/view_currency/ILC/

Bit Info Charts
https://bitinfocharts.com/ilcoin/

Bitmakler
https://bitmakler.net/ILcoin___kriptovaluta

CoinMarketInfo
https://coinmarketinfo.com/

CoinRanking
https://coinranking.com/coin/ilcoin-ilc

CryptoCoinCharts
https://cryptocoincharts.info/coins/show/ilc

CryptoCompare
https://www.cryptocompare.com/coins/ilc/overview

Cryptonator
https://www.cryptonator.com/rates/ILC-BTC

DataCoinz
https://www.datacoinz.com/coins/ilcoin/price/

Tadaawl
https://cryptocurrency.tadaawl.com/en/coin/ILC

WorldCoinIndex
https://www.worldcoinindex.com/coin/ilcoin

Trading ILCoin

ILCoin is listed and freely traded on:

Coin Exchange.io
https://www.coinexchange.io

C-CEX
https://c-cex.com

Crex24
https://crex24.com/

CrypTrader
https://cryptrader.com/

Graviex
https://graviex.net/

Our History

• 2015 - ILCoin IS BORN:
  • ILGAMOS International Ltd. introduces ILCOIN cryptocurrency which was purchased by thousands of people in the first period of time after being issued.
• 2016 Q1 - ILCoin BLOCK EXPLORER:
  • Redesign of the ILCOIN Block Explorer. Correction of every entry from BTC to ILC.
  • 1.0 Security Upgrade: Implementation of SSH Keys, Firewall, VPN, Public Key Infrastructure and SSL/TLS.
  • Encryption, SSL Certificate with 256 bits of encryption.
  • Activation of the message verification.
  • Creation of the login module.
• 2016 Q3 - UPGRADED ILCoin WEB WALLET:
  • Redesign of the Web Wallet, improving wallet security issues; forcing encryption of all wallets.
  • Implementation of the option of different fiat currencies in order to know the actual price of ILC.
  • Implementation of a dynamic graph in order to know the historical price of ILC.
  • Upgrade the security of the site and also added a SSL certificate to assure the connection security.
  • New Graph Options.
  • Improved Security.
  • Upgraded Server Back-End Security.
• 2017 Q1 - ANDROID/IOS ILCoin WALLET:
  • Layout Design.
  • Encryption of the wallets and mnemonic phrase for recovering the wallet.
  • Multi-Address System.
  • Implementation of a label and password for every wallet in your device.
  • Availability to see the unconfirmed balance.
  • QR Code reader for sending ILC and QR Generator for receiving ILC.
  • Transaction history.
  • Dynamic graph with historical ILC/USD price.
  • Transaction fee configuration.
  • Sign and verify message.
  • Set Default Wallet (every time you open the app, that will be the one to open).
• 2018 Q1 - ANDROID ILCoin/Bitcoin (BTC) WALLET:
  • Update of last year's Android wallet to be compatible with BTC
  • Layout Design for BTC.
  • Encryption of the wallets and mnemonic phrase for recovering the wallet.
  • BTC Multi-Address System.
  • Implementation of a label and password for every BTC wallet in your device.
  • Availability to see the unconfirmed BTC balance.
  • QR Code reader for sending BTC and QR Generator for receiving BTC.
  • Transaction history.
  • Dynamic graph with historical BTC/USD price.
  • Transaction fee configuration.
  • Sign and verify message.
  • Set Default Wallet (every time you open the app, that will be the one to open).
• 2018 Q3 - ILCoin SMART CONTRACTS:
  • Contracts between parties.
  • Define rules and penalties for each type of contract.
  • Up to 5 types of contract to define.
  • Example type of contract exchange properties.
  • Example type of contract exchange shares.

The Goal for ILCoin

In an ever-increasing market of cryptocurrencies, what sets the different cryptocurrencies apart (disregarding sales marketing) is the amount of development that goes into each technology. The majority of cryptocurrencies are next-to-forgotten when it comes to developmental and technological improvements. ILCoin is one of the minority of cryptocurrencies that continually improve upon the technology.

ILCoin is being developed into a globally recognised cryptocurrency which will be accepted by tens of thousands of merchants - product and service providers - in different regions and countries at an international level. As ILCoin is supported by a fast-growing number of customers, merchants and investors, its price on open exchanges is set to grow significantly.

We have the goal of making ILCoin available all over the world through ATM services. Our intention is to allow small and medium business to trade easily and cost-effectively using our cryptocurrency. The vision is to make ILCoin available to everyone in the world so that they can enjoy privacy and profit from economic opportunities. The foundations of this new economic community have been laid.

Our Social Media

Facebook: https://www.facebook.com/ILCOIN-crypto-1725413757503174/

Twitter: https://twitter.com/ILCOIN_crypto?lang=en

Telegram: https://t.me/officialilcoin

Tumblr: https://www.tumblr.com/blog/ilcoindev

LinkedIn: https://www.linkedin.com/pulse/ilcoin-information-news-alex-james/?trackingId=1R8ShXqdkZk3w1BvCzNlyg%3D%3D

YouTube: https://www.youtube.com/watch?v=sGS_Ubssaug

Forums

CoinMarketInfo:
http://coinmarketinfo.com/forum/viewforum.php?f=68&sid=d86b3bd373da49a33f0e0f9e4f72217b

CryptoCompare:
https://www.cryptocompare.com/coins/ilc/forum/BTC

Bitcointalk (You may know this one):
https://bitcointalksearch.org/topic/ilcoin-ilc-2656165

All Crypto Talk:
https://allcryptotalk.com/index.php?/topic/5160-ilcoin/

CryptoTalk:
https://www.cryptotalk.org/index.php?/topic/1638-ilcoin/

Slack:
https://ilcoin.slack.com/messages/C8KQLB4JW/files/F7GU16JM9/

CryptocurrencyTalk:
https://cryptocurrencytalk.com/topic/92723-ilcoin/

Our Support

Our support centre is always available to assist you with any issue that might arise during the use of our products.

[email protected]

We also have tutorials to help you feel more comfortable and confident when interacting with our products.