Topic: ★Italo Network★ -CN based | Multi-PABs | Crowd-Hashing | Low Supply | No Premine (Read 4316 times)

Hello community, dev here.

In the past few months we have had many discussions about changing our name and branding to something that better defines our project moving forward.

As you all know we will upgrading to a radically new type of blockchain technology utilizing the Homomorphic Encryption Blockchain Protocol. With this move we will move out of the realm of a simple “Privacy coin” and become an all encompassing platform for creating, launching, and maintaining 100% private and fully encrypted Smart contracts enabling full use of DEFI apps and NFT protocols as a Layer 1 solution.
Changing who we are at the core and what we stand for needs to be reflected in our brand and online presence.

After many talks, debates and polls with the community we have decided that the new project name will be SYFER ($XSF).

When we will REBRAND?!

Now that we have decided the new name we just need to find the right LOGO.

We will be hosting a competition that will be held on twitter and telegram to find the right logo for our new project. The competition duration will be for 1 week beginning the moment that this article is published.

The prize for the winner will be 500.000 XTA!

Please submit your logo as a reply to this tweet!

https://twitter.com/italocoin/status/1485232526025179139

According to community input about the design and application that we have received this far, we have listed some loose guidelines below.

Syfer logo design guidelines.

These guidelines should be read with two considerations in mind — first, we have proposed two options for anyone who wants to submit a logo design:

i) a narrow definition that encourages logo designers to create something that is encryption-centric and gives the impression that Syfer is the new gold standard in privacy coins.
Please note that I’ve probably over-engineered the list of design criteria and i would expect that we’ll cull this extensive criteria list to a final version that is more concise for the reader to grasp.

ii) no definition or guidelines at all. Designers can simply rely on their creative talents to come up with a visually brilliant logo that is both simple, scalable and visually impressive.

2. Additionally, I’ve attached an example Syfer logo that is really just a scratchpad work-in-progress /storyboard to give you some idea of how I think option #1 above could be achieved if one wanted to create a logo that attempts to convey subliminal encryption/privacy messages to the casual observer through a logo form.

Please note that I’m not actually suggesting the logo example be considered as a design contender since it’s intended purely as a backdrop upon which to tease out various functional components that you may like to see incorporated into the winning logo design. So, yes, you could maybe describe it as a logo mind-map against which you can use it to include or cull some of the criteria i’ve tabled under option #1.

CREDITS TELEGRAM: @kinetic7

SOooo When we will REBRAND?

We will rebrand in about 2 weeks from the date of this post.

We will hold the competition to find the right logo for the first week and use the next week to finish up the new Website and rebrand all our socials/coinmarketcap/exchanges etc.

WHEN WILL WE SWAP?

We are estimating the SWAP to occur in approx. 30 days as there are final development nears completion of the new Homomorphic Encryption Blockchain Protocol Once we have validated the stability of the network it will go live.
We are estimating the release of a public testnet shortly before we swap so that the community can test and begin development on our new platform, more details will be announced latter on.
Best regards,
DEV.

Great news!
I am glad that mining will be available again, this will attract more people to the project.
The service node will no longer be in any form?

Hello community, dev here.



In the past few months many things happened, we had many plans and in the end we came to a conclusion, i scrapped over 4 months of work and started over to move ITALO (XTA) on Golang and from POS back to POW with DAG block structure, we will use the source code of DERO as is a fully distributed ledger processes transactions and has a twenty-seven seconds average block time and is secure against majority hashrate attacks, we will support private smart contracts (just like Ethereum but PRIVATE) on our native chain without any extra layers or secondary blockchains!

New website, Pool, Online Wallet, New GUI wallet, CLI wallet for Windows, Linux and MAC.

From Proof-Of-Stake to Proof-of-work (AstroBWT) mining algorithm that aims to reduce the performance advantage of GPU, ASIC, and FPGA hardware to allow for competitive CPU mining.

Rocket Bulletproofs: How long does it take to verify a Rocket bulletproof?

While a typical Bulletproof takes ~15 ms to verify, Rocket Bulletproofs only take ~1.5 ms.

We will make NFT website where people can sell/buy NFTs on our own blockchain!

Rebrand!!!

We will have to rebrand because many and i mean it MANY had issues with the name ITALO as it refers to a Country name, we will make a poll on twitter where people can suggest names then we will put all suggested names in another poll so that the community can chose the new name of our project!

Now that we know what are the feature plans lets talk about circulating supply!

Yes, again, we have pushed on the market millions of coins, to be precise 70 Millions! therefore our new circulating supply is:

48859929.789167389 + 70000000 = 118859929.789167389

Many of you will be outraged about that but in the end this move will pay off!

The idea behind this push was that if many people have coins and is affordable it will gradually move up and we will have more people that hold coins and the community will expand, to make sense of this move just take a look at Shiba inu or doge with billions doge and trillions of coins SHIBA grew a staggering 1000000% in 1 Year, apart of the hype was because many people could afford it and bought this coin as its cost was extremely low and secondly of course Elon Musk, but overall the growth of all this coins with billions in circulating supply is because many can afford to buy it, and if you make a simple math if 100.000 people buy 100.000 coins each they all bought 10.000.000.000, getting 100k of Shiba right now costs you $5,31 so you can see how and why this coins with billions of coins can easily grow a lot.

Now you will probably ask yourself what did you do with the BTC that you got from pushing those coins on the market? We pushed the coins at 1 sat price and bought back at 2, as you have saw in this past months how many millions of coins got sold and bought, but, as you may know if you sell at 1 and buy at 2 you lose 50% of coins and BTC every time, therefore we are left with no btc and we pushed on the market 70M XTA.
Now my question to you the community and investors is: should we push more coins? We will only Push at 1 sat and buy back at 2 sat 100% of BTC gathered like before, I will make a poll on twitter, we still have 160 Millions coins left i will provide here the wallet with the viewKey, you will look at the time of the transaction of those 160M coins so that you can know for sure that this coins are from now and not from before.

https://twitter.com/italocoin/status/1460178993865441281

I saw last time that many didn’t knew how to generate a view only wallet to check that the coins are there, so i will give you a small guide here on how to do that.

First you need to download CLI wallet from here download the cli based on your OS, for Windows open Command Prompt with the keyboard shortcut Windows Key + X, unzip the CLI file, access it and drag the italo-wallet-cli.exe inside the Command Prompt then follow the instructions down below.

CLI: Creating a View-Only Wallet from a Private View Key

Address: iz5qRA2i4FN9LZ2xWvdiQz2M6tRp5dWFTXvB5TsaiJjFEhtKaoB7CiMMTBpJGCNFtaQzHey3T1j15KR NPzie16bg2BqNccwae
ViewKey: 99b694bf5d4b0b18b59f478cfd5ee53b22cf54755fef72d6456fdaf14ed1d103

Next, create your view-only wallet by typing italo-wallet-cli --generate-from-view-key wallet-name. The last argument will be your new wallet's file name.
You will be prompted for Standard address and View key by the wallet. Paste in your original wallet's address and private (secret) view key. Next, enter and confirm a password for your new wallet.

Now let’s talk about the SWAP, when it will happen and what should people that own ITALO coins have to do.

The Swap will happen around half of the January of 2022.

Everyone has to move the coins on Tradeogre by that date as if not those coins will be lost forever!

More news and updates will come up in the following weeks.

Thank you all that are still here and supporting the project. I really appreciate you all.

Until the next time, y’all have a great day and stay TONED 💪🏿 soon we will go to the moon.

https://twitter.com/italocoin/status/1460178722963734528

DEV.

hi... same seed .. but i have made the upgrade of the new wallet and no coins show..

https://ibb.co/jVHQCPc

Hi, what do you mean in the old wallet you have 18k and in the new wallet shows 0 coins? You use the same wallet or you regenerated the wallet with mnemonic/seed nodes on the new wallet? Join on Discord and DM me on @ITALO#8815 https://discord.gg/thUzmtm

Regards,
DEV.

In my ord wallet i have 18k italo coins.. but in the new wallet show 0 coins...

Someone can help me to recovery my coins in the new wallet please

Thank you for this update!
Your detailed explanation and your dedicated work and progress are really appreciated!

And yes, we would like to hear more about plans for moving forward.

@italocoin

What can be done from our side, to get the process to the right path?
What's needed precisely?

This project is considerably an old one and it is great that you managed to make this survive. And swapping them to PoS may give better future for this coin. Who knows? On the other hand, what are your major plans that you will dedicate with to improve the presence of XTA in the market? Let us say for the remaining months of this year?

Also, is it possible to add your coin in the Investbox of crex? You are already in PoS so maybe would be a good thing also to be added in the investbox of this exchange.

Hello Community, hope you are all doing fine!

We need to talk about something very important.

Around 4 Months ago we have made the SWAP on Proof Of Stake and we added 10 Millions reserved for a feature IPO that after more analysis and discussion with a Lawyer was impossible to be done for us due to regulations and lack of a budget to get such an IPO done.

After we did the SWAP with new Website, New Electron GUI Wallet, new daemon and everything fresh i hoped that the Project would grow exponentially and we would be able to create a Foundation for XTA where we could have gather a budget with the help of the community to start working on our Shopping Private App as it was planned without a IPO! But that unfortunately didn’t happen at all, actually the price remained on 1 2 3 Sats all the time, and unfortunetly the community didn’t helped us economicaly at all, so no change at all.

The reality is that i couldn’t afford to maintain the Project Anymore therefore i had to make a choise, either to abandon it or to do something extrem, i decided to not leave the project die out, and as we all know we have spent 2.180.345 XTA on Marketing, Airdrops, Crex24 Faucets, Trading Competition, and the rest of IPO coins i pushed them on the market at price of 1 and 2 satoshi to gather some budget so that i can keep the project up and running, plus the idea was that if more and more people will have XTA at a low price more people will get interested in XTA and join us, the effect was quite positive and plus i used most of the budget gathered from selling XTA at 1 and 2 sats to buy back and get the price slowly up, but budget finished quite fast as there were many dumpers i couldn’t sourge the price above 6 sats and i was left with almost no IPO coins nor btc from selling the coins, so it didn’t wen’t as i tought it would, i tought a push would surge the interest in XTA but it didn’t happened, after around 2 months from the SWAP i had to make a new Harfork to lower the PULSE BLOCK REQUIRED SIGNATURES from 7 to 4, because in real world with weaked servers the service nodes weren’t able to produce a valid block within 1 minute with 7 valid signatures and most of the time the blocks were delayed so that was a problem, that of course got succesfully fixed! Now i wanted to add 25 Millions XTA for WXTA DEFI and make a sell to gather capital to get more devs on board and start the works on our main product Shopping Private App but again another mistake was made by me when i pushed the wrong commit (https://github.com/italocoin-project/italo/commit/ad0fbb7ae45e7d7e1715ec4s077e6eb5a8623fe1d) and the commit that had to mint 25 million XTA was instead the commit that i made tests on testnet that would generate 252.000.000 XTA and i discovered the mistake after the hardfork when i saw in the Development Wallet 252 Million coins instead of 25M as planned, now the mistake was done and i couldn’t revert it, as it would mean that we would have to go back with the chain and all the transactions from 2 3 days would got lost and that’s not a solution.

The coins that got generated are in block 135760 v17

https://explorer.italo.network/block/135760

Now with 252 Million XTA in the wallet i didn’t knew how to tell people about this mistake, before i found out about my mistake my initial plan was to announce about the 25 Million coins that was planned to be minted and to explain in what this coins will be used meaning using them in WXTA to gather a budget for the Shopping App and make a WXTA / XTA decentralized exchange, 2 birds with 1 stone!

The problem was again the LAW! If i would have sold privately the 25M coins privately that’s called Security and it would give us problems with the LAW, again the plan failed!

Without a plan the project was going bad, i thought that this is it, the budget that i’ve got from selling the IPO coins at 1 and 2 sats was almost over when i tried to surge the price and get more people to be interested in ITALO, so i had to think of a way out again, after failing and failing again and again i decided to make the last move, and in a span of 2 months i sold at 1 and 2 sats 20 millions XTA, i was sure that with more coins in peoples hands it will get them more hyped and join ITALO for sure! And the truth is that the plan quite worked extremely well, the buy wall was moving up and more and more people and investors joined ITALO as never before! Many investors became interested in ITALO the community is starting growing and all good.

I have gathered a budget for at least 1 to 2 years to maintain ITALO with no issues, but on 04/24/2021 ITALO surget like crazy finaly and i helped with pushing the price up from 22 sats to 34 sats, i’ve spent 0.2+ BTC and got 1M+ XTA back from the market, i had made from pushing 20M XTA on the market around 0.3BTC so i am left with 0.06BTC that i plan to keep it to pay the hosting bills for a while.

But there was a problem, people thought that in circulation there were only 17.8 Million coins + the 2.180.345 Million coins that were used from IPO initially for marketing and crex24 faucets plus trading competition, giveaways and more… But as you now know, there were 10M + 20M + 17.8M (that were already in circulation after the swap) = 47.8M XTA in circulation, now i felt bad i didn’t knew how to tell the community that trusted me and believed in me about the IPO coins plus another 20M coins that got in circulation. The truth is that the move that i did helped ITALO extremely! Of course it was a bold move and I apologize for that but all what I did was for the best for the ITALO project and its survival!

Oh where are the rest of 252M coins then?

They are safe. I will share the ViewKey of the wallet with 230M as 20m were sold at 1 and 2 sats.

ViewKey: ( 20dc6e8fe3f4737893059fb85e06c2cc358c77800d23eead606fbbbfd64ebb09 )

With this Viewkey you can check any movement of these 230M coins so it’s 100% transparent and you won’t need to trust me or anyone else at all!

On the Next HardFork we will burn all 230M coins, until then for transparency anyone can check the wallet with the above ViewKey to see that the coins are there and can be monitored that none of them will be moved!

So how many coins are in circulation?

there are 10M + 20M + 17,8M = 47,8 Millions XTA in circulation.

Now its you to decide what you want to do, go along with me or abandon the ship, cause you might think that OH SCAM, the reality is that i’m not doing this to get rich, as i maintained the project for more than 3 Years without making a dime, i had to pay all the Hosting Bills and work on everything by myself, i did all of this because i really like and believe in this project that i made but i realised that without a budget we can’t grow at all, and my OWN JOB was not goin so well and lack of time with Work and ITALO project i couldn’t sustain it anymore, and that’s why i needed some budget and cut some work hours to move on with ITALO project!

Why didn’t you told us about your plan before you did it?

Because i wanted to show you the results of my plan before i announced as many might have thought that i am trying to scam or take advantage of my position in this project!

We will buy up all the coins that people want to sell at 2 and 3 Satoshi!

YOU DO THIS ONLY TO GET RICH!

No, but if I become rich you all the supporters and hodlers of XTA Project will become rich along with me!

Kind Regards,
DEV.

We would like to announce that the HARFORK was a success!

Now with 4 pulse block signatures required
 instead of 7 we are on track with blocktime 1 minute!

Hurayyyy!

Thank you all for supporting #ITALO

Regards,
DEV

Notice: Please update your Wallet to version v10.0.0 we are hardforking in around 5Hours!

Download the Binaries from here:

https://italo.network/#downloads

Service Node operators: Please update your daemon to version v10.0.0 otherwise you will get decommissioned and your coins will be locked for 30days!

Thank you,
DEV

We are happy to announce that a new Version v9.0.1 Point Release is available for download! This is not mandatory update but it's highly recommended as it fixes certain bugs!

Download here:

https://italo.network/#downloads

Earn $XTA by creating a Service Node:

https://italo.network/service-nodes/

Service nodes Operators are required to update the daemon, if you compiled it from source please git pull and recompile it, if you downloaded the binary then download it again! Make sure you are on Version v10.0.0! You need to update the daemon by Monday 3/22/2021! Thank you all for the support

Yes exactly, but the node needs to run for this 15 days 24/7 for you to get the rewards, after 15 days you get your coins unlocked and the node gets canceled.


it can be even longer than 1 year its all based on how many total nodes are running, its esential that the coins need to be locked as if not you could make 1000 nodes with the same 15k coins.


Yes they are automaticaly locked until the node is running, and if you get decomissioned because you shutdown the node you will get the coins unlocked after 30 days


The reward system works pretty simple, if there are 40 active service node you will have to make the math based on how many nodes you have. so for 1 node with 40 total nodes you will do like so

the block reward is 3.3 total nodes are 40 and your node 1

3.3 coins every 40 minutes as the blocktime is 1 minute

if you have more then 1 node you x the 3.3 coins x how many nodes you have with how many total nodes are runing

blockreward x your nodes for every minutes=total nodes

So from my understanding if i unlock the stake i will continue to get rewards for 15 days and that's it? No more rewards after the 15 days even if the node is still running ?

Just need to know if i have to keep the coins locked to get the rewards or not, i intend to keep this node up and running and maybe start another one however having all those coins locked upsets me a little since the reward is pretty little, from my math to get the 15000 ITALO in rewards will take more then 1 year at the current reward rate..

May i suggest that you guys add a page on your website related to the Reward system, at the moment information is pretty scars.

First of all thank you for your support.


If you unlock the stake you will still get rewards for 15 days (as you need to keep the service node running 24/7 for this period of time) after that your coins will be unlocked in your wallet ready to be used.


you can't use the coins right away, you need to unstake the coins and you need to wait for 15 days with the service node running, in the case you shutdown the service node you will get decomissioned and you will need to wait for 30 days until you can use those coins as they will get unlocked in 30 days.

First of all congrats for the nice job, website and wallets are looking very good

So i managed to install a Node and register it, node is up and running however i will like to know what happens if i unlock the stake?

I have a full 15.000 ITALO stake on the node in question so 100% Fee, do i need to keep the 15.000 ITALO locked for the Node to work or i can unlock them at any time?

Thanks and keep up the good work!

VPS coin? wtf are you blabbing about VPN’s?. it says they are partnering with a VPS company to help them provide stable service nodes. as in the VPS company will provide them with dedicated service nodes. and allow packages for regular users. calm down you sound crazy.

edit- thanks dev for clearing that up. i edited what i wrote based on your reply.

No, what "VPS coin"? We moved on proof of stake with PULSE algo, so in order to get block rewards you can't mine anymore but instead you need to create a Service Node https://github.com/italocoin-project/italo/wiki/How-to-Setup-an-ITALO-Service-Node and because the service node has to be online 24/7 and maintaining it at home if your electricity goes out or the Internet dies for more then its allowed you risk to be decommissioned and to have the coins locked for 30 days, therefore we are in talks with a VPS provider that will give us a discount to people that buy VPS from them trough us. Hopefully that explained well the idea

Regards,
DEV

The VPS coin? I mean service nodes, shall it be interpreted the same as VPN servers run by blockchain users for rewards that VPN users pay for the service. I mean dang, holy rectum, who on the whole earth could have come up with this and why shall it even be accepted by the mainstream. Any doofus can buy a normal VPN subscription.