Icash – General Info, Token and Wallets

October 8, 2017

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Recommended resources: CoinMama (Buy BTC and ETH) and Ledger Nano S (Hardware wallet).

ICash is a decentralized cryptocurrency that offers both private and transparent transaction types. It uses darksend technology to ensure privacy.

PROJECT OVERVIEW.

ICash is a decentralized and open-source cryptocurrency that offers both private and transparent transaction types. Payments are published on a public block chain, but the sender, recipient, and amount of a transaction remain private.

HOW IT WORKS.

ICash uses peer to peer together with darksend technology to operate with no banks or central authority. Issuing of iCash and managing transactions is done collectively by the network. iCash is not only mined in an open source but its design is also public hence nobody owns or control it and anyone can take part in it. By using many of its properties, iCash allows users who could not be covered by any previous system to use it. Apart from the traditional proof of work rewards of mining iCash, you can also be rewarded for maintaining and running servers known as master node

Although future plans are envisioning several roles for Masternodes in the markets their main function is to carry out an animation phase for the dark send protocol. The kind of service that Masternodes provides is one of the best things about the dark send which is actually the defining future of this platform. For it to return this service with each mined block one masternode is randomly chosen by the network to receive 20% of the total payout gotten from that particular block.

FEATURES.

It uses Chained Hashing Algorithm X11 created by Darkcoin core developer Evan Duffield. X11 Algorithm uses a series of eleven scientific hashing algorithms to check out the proof of work. This is to ensure that the processing distribution is fair and these coins will be distributed in a rather similar way as the bitcoins were initially being done. ASIC’s will be rather hard to make and may take many years to mature.

It uses the dark gravity Wave which is a widely used adjustment algorithm created by Darkcoin core developer to address its flaws.

It also uses the instant Transaction technology or instant X that will basically allow the iCash to compete with all the instantaneous transactions like the credit cards for some point of sales transactions while not depending on the centralized authority in the system. If this is successful, the idea could change the whole system of cryptocurrency by reducing the duration it takes from as long as 1 hour to as short as twenty seconds

NEW NETWORK.

Currently, iCash has been the same thing since 2015 but this will change in 2017. They will direct themselves from the old network and establish ground rules for a new network. When the transaction is complete it will provide multiple platforms wallets, stable support, update to the latest technology for anonymity and maximum security and the constant development of iCash wallet to ensure that the user experience is good. iCash is also a real community driven coin. With the team that met, iCash has continued to grow in leaps and bounds

HOW TO GENERATE NEW NETWORK

Generate a new address button.

Click the paper wallet and print the page on the best setting. You should not save the page as a pdf file since it’s more likely to be hacked.

Share your public address while keeping your private key secret. The private keys are literally the key to your coins hence you must ensure that you keep it secret. This is because they could withdraw the funds directly from your wallet.

Since iCash came over in 2015 there has not been too much development up to now. They have even created a good roadmap to development to ensure that it’s even much better.

ROADMAP

SPECIFICATIONS

Release date: 20:30 UTC 2015-03-19 / No premine or instamine
X11 hashing algorithm: 11 rounds of scientific hashing functions (blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd, echo)
Block reward is controlled by: 22222222/(((Difficulty+2600)/9)^2), Max: 266 Min: 1
CPU/GPU mining
Block generation: 2.5 minutes
Difficulty Retargets using Dark Gravity Wave
7% decrease in the number of coins generated per year
~8 billion in year 2065
Decentralized Masternode Network
Superior Transaction Anonymity using Darksend

EXCHANGES