ItaloCoin is a untraceable cryptocurrency and was launched on March 14, 2018 and works according to the principles that are radically different from ones the fiat currencies and their digital analogues use. We have created the currency with CryptoNote Technology And Monero that is convenient and reliable to use in the Internet.
Transaction privacy is protected by secure cryptographic setting Ring Confidential Transactions (RingCT) with minimum ringsize (mixin) of 6 to conceal sources/amounts transferred and make it high resistance to any blockchain analysis whereby no one can identify who sent the money, who the receiver was, and what amount of money was transferred.
Italocoin uses confidential transaction protocol that it use a type of mathematical proof nicknamed “bulletproofs” to make sending the currency cheaper and more data-efficient. This makes the currency even more compelling for people to use efficiently and cheapply. keep in mind that “bulletproof” cuts TX size by 80% meaning 80% less fees!
Italocoins is gradually getting more expensive over time, since the emission is limited. The number of Italocoin emitted each 120 seconds is slightly decreasing as a result Italocoin gains value and exchange rate increase. And Because Italocoin emission is decreasing slowly, it protects the currency from economic shocks.
Italocoin is committed to provide the maximum amount of decentralization. You do not have to trust anyone else on the network, and it is not run by any large group. With accessible “Proof of Work” algorithm makes it easy to mine italocoin on normal computers, which makes it more difficult for someone to purchase a large amount of mining power. On the decentralization spectrum, an ideal privacy coin should maximize for protection against Governments, corporations, and nefarious actors. Italocoin’s governance aim is to maximize for sovereign-grade censorship-resistance, at the expense of everything else! with the goal of enabling others to contribute to Italocoin. We aim to build the minimum amount of structure that open source protocols require, while encouraging a decentralized governance and development process.
Let's look at the typical two-output transaction, where I send you some ITA and direct the change back to myself. All Cryptonote coins use current range proofs, the typical transactions are around 13.2 kB in size. But Italocoin is using BulletProof and as of now we use just one single-output bulletproofs, the transaction reduces in size to around 2.5 kB! YAY! This is, approximately, an 80% reduction in transaction size, which then translates to an 80% reduction in fees as well. The space savings are even better with multiple-output proofs. This represents a significant decrease in transaction sizes. Further, our initial testing shows that the time to verify a bulletproof is lower than for the old range proofs, meaning speedier blockchain validation.
Italocoin is an open-source, community-driven project. Described below are several ways to support the project.
Current Version: 0.12.3.0 Lithium Luna
Current Version: 0.12.3.0 Lithium Luna
This is a development roadmap but can be changed to reflect (new) project targets and our vision. Implementation timelines are not fixed and subjected to actual development resources.
• GUI/CLI Wallets Launch
• BitcoinTalk / Socials Anouncement
• Cryptonote Version 1
• BulletProofs Enabled
• altex.exchange (First Market added)
• Zawy Difficulty
• Cryptonight Heavy pow
• Crex24 Market
• TradeOgre Market
• USB FPGA mining Project (research started)
• Marketing Promotions
• USB FPGA mining Project (Whitepapper)
• USB FPGA mining Pow Research
• WP Plugin for accepting ITA
• Online Wallet
• Mobile Apps for iOS and Android
Algorithm: CryptoNight Custom heavy
Block time: 120 seconds (2 minutes)
Difficulty retargets each block
Block reward decreases each block according to the formula: BaseReward = (MSupply - A)/218, where MSupply = (264 - 1) atomic units and 'A' is amount of already generated coins
One coin is divisible down to 12 decimal places (divisible up to 108)
Total coins: 18 446 744 073 709 551 615 atomic units (= 18,446,744 ITA)
P2P PORT: 13101
RPC PORT: 13102
Because the main problem of Crypto is big waste of electricity, We are working for a solution to lower drasticaly the waste of electricity by working on a USB FPGA mining project! USB FPGA mining Project is about a USB key that you will buy with a cost of around 15 20$! We will craft a algo that runs faster on this $20 usb key than on any other PC, this way people will no longer waste so much energy! We will use FPGA! FPGA can do 10000 muls in parallel, so we are working to make the best algo for FPGA! Once the project is launched we will make it OPENSOURCE in this way the free market will take it to the next LEVEL! You will get more details once the WhitePapper is out.
Multiple outputs raise some issues that need further thought. Because bulletproof verification is linear in the number of outputs (while the size scales logarithmically), an attacker could pack a transaction with many outputs; this tiny transaction would require low fees but would be computationally expensive to verify, opening the door to denial-of-service attacks. Because of this, we will need to adjust the fee structure away from transaction size and take into account the verification scaling. This doesn't mean fees go up, though! It just means that the fees will scale properly and in a safe way.
To avoid any problems, we're deploying bulletproofs in two stages. You'll first see only the single-output proofs. A two-output transaction will initially use two separate proofs, which still offers massive savings from what all other Cryptonote coins have now. You'll see lower fees and faster verification times. We'll continue discussions about fee structure while we test multiple-output proofs, and later deploy them as a second stage. We want to encourage miners to use multiple-output proofs while being safe about fee scaling.
Overall, bulletproofs represent a huge advancement in Italocoin transactions. We get massive space savings, better verification times, and lower fees.
If this happens its most probably because you need to install Visual Studio c 2015, before this try running the wallet with start-low-graphics-mode.bat maybe your PC has low graphics capabilities or try running the wallet with Administrator Rights, this could solve temp problem. If you did all this and still doesn't works please join us on DISCORD and personaly message me on my username ITALOCOIN. Or just ask on the channel, ITA community is verry kind and they certainly will help you!