Italo Network is a Monero And Loki Project Fork, with an innovative approach to Proof-Of-Stake (PULSE) for best security and attack resilience!
Italo Network 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 Stake” algorithm ITALO is almost imposible to break as nobody would have 51% of all service nodes on the network!
Italo Network 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 “Bulletproofs” cuts TX size by 82% meaning 82% less fees!
Transaction privacy is protected by secure cryptographic setting Ring Confidential Transactions (RingCT) with minimum ringsize (mixin) of 9 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.
ITALO is a privacy network which allows users to transact privately over the internet, providing a suite of tools to help maintain the maximum amount of anonymity possible while transacting and (coming up) Shopping online.
Blink is Loki’s revolutionary instant payment solution that we adopted! Making secure, privacy-first transactions without compromising on speed. Using the power of the ITALO Service Node network, Blink lets you send and receive XTA in the blink of an eye.
Full nodes become Service Nodes when the owner locks the required amount of $XTA and submits a registration transaction. Once accepted by the network, the Service Node is eligible to win block rewards. Multiple participants can be involved in one Service Node and can have the reward automatically distributed.
It is worth noting that Service Nodes operators will need to stay up to date with new updates to keep in line with software and hardware requirements. It’s also important to note that Service Node owners must run the Service Node 24/7 otherwise they will be decomissioned!
Monitor other Service Nodes and vote on their performance
Be called into quorums which give them authority over instant transactions (Blink)
Create new blocks (Pulse)
Every 60 seconds, a leader is chosen from the top of the Service Node list. This leader creates a candidate block which they send to 11 randomly chosen Service Node validators. The validators ensure the block is valid, then perform a group ceremony to create a random value. Once the ceremony is finished, each validator includes the final random value in the candidate block, which they sign and send to their validator peers. Once a candidate block has more than 7 signatures, it can be published to the network as a valid block.
The current logic of sequentially rewarding each Service Node in a sorted list would be preserved, however for a Service Node to win this reward they must act honestly as a leader by producing a valid candidate block.
With Blink, $XTA becomes one of the firsts cryptocurrency to offer secure, private, anonymous transactions in real-time. The possibilities are endless — limited only by your imagination.
At the momment ITALO ($XTA) is traded on two exchanges!
When a $ITALO Blink transaction is made, the transaction makes a few extra stops on the way to the mempool — but, paradoxically, those extra stops make the transaction effectively instant.
Service Nodes do the heavy lifting on the ITALO network and get a significant financial reward for their efforts. By maintaining a Service Nodes you get paid for keeping the network SAFE!
Italo Network is a free, open source community-driven project aiming to create a more decentralized, secure and private means of instant payment. If you would like to contribute and help us succeed in our mission, you can offer your support by donating for ITALO’s DEVELOPMENT.
On December 18th we have successfully SWAPPED on the new BlockChain, now we have moved from proof of work on proof of stake with PULSE.
We have updated to a new GUI interface Electron, a new Explorer writen in python and many more!
ITALO's new blocktime is 1 minute instead of 2 minutes.
ITALO's pre-swap blockreward was 6.6XTA per block, to adjust the blockreward to make it fair for previous miners we have cut the new blockreward to 3.3XTA per block as a block gets generated every 60 seconds so the SWAP ratio is 1:1.
Tradeogre and Crex24 has succesfully SWAPPED on the new BlockChain.
Tradeogre has succesfuly SWAPPED on the new Blockchain.
Crex24 has succesfully SWAPPED on the new Blockchain.
In December 2020 The new Website was released!
We are in negotiations with 2 new Exchanges to get listed in the first Quarter of 2021, nothing is certain as of now negotiations are underway, we will update this Section according to the upcoming news from the 2 exchanges!
In the second Quarter of 2021 ITALO will make a HardFork.
This Hardfork will bring more updates and security to the Network, more updates will be posted soon!
We will fix the bugs that were found durring the First and Second quarter, we already found a bug in the GUI Electron Wallet and CLI where if you save the wallet in Windows it wont save it because it can't replace the wallets file! This issue happens only on Windows.
There are no issues so far with the daemon, we will see in the First and Second Quarter of 2021 if we find any issues!
In the Third Quarter of 2021 we will release the IPO Details and the Shopping App's WhitePapper, we will make a IPO to make a Completely Private Shopping App where people can buy/sell Merchandise or digital goods in a completely privately way, the only ones knowing about the sell/buy will be the buyer and seller and to protect the users we will allow as a payment method only $XTA to make the transactions completely private! More details coming up.
In the Third Quarter of 2021 if all things go as planned we will release DEFI, a SWAP between XTA and An Ether Smart Contract erc20 token! We will ticker it $WXTA and will be tradeble on Uniswap and decentralized exchanges like it!
In the Fourth Quarter of 2021 we should make the IPO if everything will work as planned! We are gathering a Budget to Pay A Lawyer that will guide us trough the Legal Process! This Plan will be updated accordingly in the Second and Third Quarter of 2021.
Italo Network is a Monero And Loki Project Fork, with an innovative approach to Proof-Of-Stake (PULSE) for best security and attack resilience!
