The Ittrium Cryptocurrency team strives to develop a market leading cryptocurrency that is price stable, offering fair returns via PoS and Masternodes. Check out our informative posts in the Updates category. This section provides updates of all varieties from across the Ittrium website. Check it out for all of the latest news in the Ittrium project.

It’s been a busy few weeks so first up apologies for the lack of correspondence.  Moving forward I plan on releasing monthly community updates (towards the end of each month) of what we’ve achieved during the past month and goals for the following 4 weeks.  First of all, let’s recap. Welcome to the November 2018 Community Update.

 

Development

 

Ittrium’s main development goal is ‘striving to be the most technically advanced privacy orientated cryptocurrency.’  In line with this goal, November sore the release of version 2.0.0 in which we implemented the ZeroCoin privacy protocol, a type of zero-knowledge proof.

 

A significant amount of effort went into this update, 396 files were edited, with over 37 thousand lines of code added.  Whilst extensive testing was conducted, it was disappointing to say the least, that a minor spork bug, essentially resulted in all nodes banning one another, causing the blockchain to temporarily pause.  Whilst we acknowledge this doesn’t inspire community confidence, with any update of this scale, minor bugs will likely remain.

 

Despite this minor stumble, the issue was quickly identified and version 2.0.1 was released shortly afterwards fixing the issue.  The team did not, and will never apologise for minor bugs such as the one encountered.  We value the importance of development, as so few crypto projects do any development at all.  In my opinion, it’s the easiest way to spot a scam coin, anyone considering investing in a new project should do GitHub due diligence at the very least.

 

Back to my point, there is only ONE way to be a completely bug free programmer, do not code at all!  Bugs are unavoidable because programmers are human, all we can do is try our best to prevent them, react quickly when a bug occurs, and learn from our mistakes.  Projects that don’t develop, will fall behind and fade into crypto-oblivion.  Ittrium will continuously develop, as such, we’ll undoubtably encounter bugs in the future.  Rest assured however, we are very confident that we can squish any unforeseen bugs that may arise within a timely manner.

 

We ask our community to be patient WHEN we encounter a bug in the future.  Also please refrain from posting negative comments during these periods, they only serve to create FUD, which is counterproductive to say the least.  If you come across any bugs please create a ticket in the #tech-support channel on our discord, NOT in #general.

 

Exchange listing

 

Earlier this month we announced that we had submitted an application to get Ittrium listed on the Bisq decentralized exchange (https://github.com/bisq-network/bisq/pull/1809). Bisq is our preferred exchange for a number of reasons, the fact there is no costs is certainly a big plus, as this allows us to build a bigger defensive buy wall.  That said, please note that we have no influence on WHEN or IF, our listing application will be approved.

 

Lastly, the team is in no rush, whilst there is certainly advantages of getting listed shortly after a coins launch, such as improving investor confidence, there are also many disadvantages.  The main one being, low liquidity.

 

Ittrium distinguishes itself from our competitors in many ways, however the most apparent difference is our strategy to increase liquidity via the creation of a defensive buy wall, which we believe will reduce negative price volatility and in turn, will help protect investors.  The team feels strongly that getting listed prior to having sufficient capital to improve liquidity, will simply result in failure.  Consequently, if our Bisq application is unsuccessful, we owe it to our investors that we DO NOT get listed on an exchange until we have sufficient defensive buy wall capital.

 

Community and Marketing

 

This past month we have significantly improved our marketing capabilities with the aid of The CryptoCoin Man and Coinvasity. We now have over 750 Discord members and 400 on twitter and it’s growing day by day.   I’d like to thank them both for their contribution this month, they have aided Ittrium’s cause immensely.

 

That said, we recognise that we need to find innovative ways to attract investors, so I’m throwing out a challenge to our community, anyone that introduces a new member that actively takes part in the presale, will themselves received 10% of what’s purchased for free!  So be sure to spread Ittrium wide and far (without spamming people)!   Also, if anyone has any recommendations be they website listing, forums, advertising, promoters and/or influences please let one of the team know.

 

Lastly, I’d like to take this opportunity to thank Coinvasity again and wish him success in future crypto endeavours, as his time promoting Itrrium has regrettably come to an end.

 

 

December Goals

 

  1. Add a ‘MN install and setup video guide’ on our YouTube channel.
  2. Add a ‘Ittrium wallet – User video guide’ on our YouTube channel.
  3. Seek additional influences and promoters increase Ittrium’s awareness.
  4. Finalise the masternode pre-sale.
  5. List Ittrium on an Exchange and masternodes.online.

 

Join us on Discord for all of the latest announcements as they happen.

 

Introduction

Ittrium’s main development goal is ‘striving to be the most technically advanced privacy orientated cryptocurrency.’  In line with this goal, Ittrium wallet v2.0.0 will go live on 11/11/2018 (time-zones vary) and will implement the ZeroCoin privacy protocol, a type of zero-knowledge proof. A significant amount of work has gone into this massive update, 396 files have been amended, with 37,808 lines of code added and 18,137 lines deleted!

https://github.com/IttriumCore/ittrium/commit/73ed9388c72bfdc5b1e5e816b91dd274ac9fb2c8

To ensure a smooth transition, the team has decided to stage the rollout of the ZeroCoin protocol, as such, there’ll be a 7-day maintenance period, before the ZeroCoin protocol is activated on 18/11/2018.  Whilst extensive testing has been conducted, with any update of this scale, minor bugs likely remain.  If you come across any bugs please create a ticket in the #tech-support channel on our discord and we’ll squish them in subsequent updates.

How does it Zercoin work?

For those unfamiliar with the concept, zero-knowledge proofs utilise advanced cryptography to hide the transaction history, essentially it proves the existence of transaction without revealing any transaction information.

The Zerocoin protocol allows users to ‘mint’ zXIT by burning their XIT, and in return be provided with zXIT, which is an I.O.U on the network that can be spent later to get their XIT back. When you want to initiate a spend, your wallet sends a zero-knowledge proof to the blockchain that allows fresh XIT to be created by the network which replaces the burnt XIT, but as it is freshly made it has no transaction history. You can even instruct the network to send the redeemed XIT to a 3rd party address, to completely hide who sent the XIT to the recipient.

That sounds complicated, what do I need to learn to use it? 

Firstly, if you don’t feel comfortable using zXIT, you don’t have too, simply ignore the zXIT features and keep using the wallet as previously.  The Zerocoin protocol like Obfuscation is a complementary feature for advanced users.  That said, we’ve worked to simplify the wallet user interface as much as possible however, if you still find yourself a bit lost, join us on Discord and we’ll be happy to guide you through the process.  Furthermore, the team will be releasing more information, including video tutorial guides in the coming weeks on our YouTube channel to educate our community.

How do I convert XIT to zXIT and why can I only mint zXIT in specific amounts?

Simply go to the privacy tab in your wallet, enter an amount in the mint zerocoin text box, click mint zerocoin and the minting process will begin. Specific denominations are used to decrease the time it takes to approve your mint on the blockchain. Since every mint needs to have 2 more mints come after it before it is verified, allowing people to mint any amount they like would potentially lock coins in a perpetual state of “confirming”. Utilizing specified denominations nearly eliminates the risk that minted coins will never be confirmed. The denominations used by zXIT are: 1, 5, 10, 50, 100, 500, and 1000.

How do I spend zXIT?

The process is very similar to sending a normal transaction. In the privacy tab, you will find a familiar field in the bottom-left which lets you choose denominations to spend, enter an amount, and choose an address. Then you can click send to either receive ‘cleaned’ XIT yourself or send XIT anonymously to someone else.

Update ASAP!

It should be noted that once the spork is activated, wallets and masternodes not currently on the latest version will be disconnected from the network, so update ASAP!   Updating will reset your place in the masternode reward queue, but everyone needs to do this, so rewards will even out as the network updates to the new protocol.

Today we’d like to announce the Ittrium Core v1.1.0 release! This update brings a few new changes as well as general stability improvements and enhancements. Please see the full change log below as well as the links to download the new software:

Change log v1.1.0

  • New Graphical User Interface (GUI).
  • Updated code, Amount changed to int64_t.
  • Updated to Dark Gravity Wave 2.0 difficulty.
  • Open SSL updated from 1.0.1 to 1.0.2.
  • Ability to removed orphans from transaction history (default setting).
  • Protocol updated from 70811 to 70900 (enforced via Spork 17).

We’re always looking to update our software so that users get the best possible experience out of Ittrium. If you haven’t already, please join us on Discord and voice your opinion. We’re always ready to listen to constructive feedback.

The numbers are in.. we’re happy to announce 600 Ittrium Wallet Downloads! This is an exciting and incredible achievement. To put it in perspective, it’s only been one month sincewe boasted 250 downloads. That’s almost 3x the user reach in a months’ time! Congratulations to everyone involved.

Grab a copy of our latest wallet now ›

Our wallet holds the most important information of the Ittrium blockchain – your XIT. From it you can send and receive XIT to anyone in the world. It also houses your Masternode configuration file for those of whom are lucky enough to be invovled as an MN holder. As a reminder, taken directly from our Lightpaper:

Ittrium Masternodes

Masternodes improve network stability and are tasked with important network duties allowing for near instant and private send functionality, called SwiftTX and Obfuscation, respectively. In return Masternodes receive a greater percentage of block rewards (i.e. 73%) to incentivise Masternode uptake. A wallet with 5,000 XIT collateral is required to host a Masternode.

We’re always looking to improve ourselves & the Ittrium project.
Have something you want to contibute? Please, contact us on Discord.

We’ve recently updated our home page to include the new ATM Use Case! Check out our website update on the home page now. We’re hoping that this new update will bring more users into the world of Ittrium and Cryptocurrency ATMs.

One of the biggest criticisms of cryptocurrencies is their difficulty to convert into fiat currency (and vice versa) and their inability to be used for everyday purchases. The Ittrium team envision the ability to quickly and conveniently convert Ittrium into any fiat currency via a worldwide network of cryptocurrency Automatic Teller Machines (ATMs). To achieve this, our main focus will be getting Ittrium supported by several major Cryptocurrency ATM manufacturers, such as bitcoinatm.com, generalbytes.com, lamassu.is, and bitaccess.co to name a few.

Cryptocurrency ATMs make it much, much easier for people to convert crypto into cash and vice versa. People can simply walk up to the crypto ATM and scan a QR code of their wallet address to make a withdrawal in the local fiat currency within a matter of seconds. It is extremely simple, fast and convenient. Alternatively, people can also purchase Ittrium by inserting their local fiat currency into the crypto ATM. Crypto ATMs are relatively new, first appearing in 2014 and as of Sept18 there were 3,700 in over 60 nations worldwide. According to the world bank, in 2016 there were approximately 3.5 million traditional ATMs worldwide, so in comparison, Crypto ATMs are still relatively sparse. That said however, if you live in a city with a population of over 1 million people, there is likely a to be crypto ATM within several kilometres (https://coinatmradar.com/). Furthermore, if historical growth in crypto ATMs continues, within 10 years there could be as many crypto ATMs as traditional ATMs (see figure below). In other words, there will be one just around the corner.

Join us on Discord for all the latest discussions.

The Ittrium Team is excited to announce a brand new blog layout update. This update comes jam-packed with an exciting new layout to make it easier for all to read & view. If you haven’t already, check it out now! This is the second major update to the website in the past few days. As a reminder, we’ve recently also launched an Ittrium FAQ Page!

The blog is where we’ll post all the most important updates to the Ittrium project. It may be a little slower than Discord, but it’ll always end up there!

Curious what height we’re on now? Check out the Ittrium Explorer.
Don’t forget to check out our Twitter follower update too.

The Ittrium Team is happy to announce a brand new FAQ page launch! This will harbour all of the commonly asked questions and solutions directly from the team. Feel like we’ve missed something? Get in touch with us now.

Here’s an excerpt from one of our most commonly asked questions:

Why do I see orphan blocks in my wallet?

Orphaned blocks can initially be accepted by the majority of the network but are later rejected when proof of a longer blockchain is received that doesn’t include that particular block. This means that a user could see a transaction as having one confirmation and then, if a longer blockchain was received that didn’t include the transaction, it could change back to 0 confirmations.

We’ve also recently updated our Lightpaper and Whitepapers; make sure you take a peek.

The Ittrium Team is happy to announce an update to our use-case. We’ve made Whitepaper & Lightpaper Updates accordingly! Here’s a sneak peak abstract taken from the Whitepaper:

Ittrium’s goal is simple; to create a near instantaneous, anonymous, digital currency which is price-stable in terms of BTC value, whilst being fast and convenient for people to use for everyday purchases. One of the biggest criticisms of cryptocurrencies is their difficulty to convert into fiat currency (and vice versa) and their inability to be used for everyday purchases. The Ittrium team envision the ability to quickly and conveniently convert Ittrium into any fiat currency via a worldwide network of cryptocurrency Automatic Teller Machines (ATMs). To achieve this, our main focus will be getting Ittrium supported by several major Cryptocurrency ATM manufacturers, such as bitcoinatm.com, generalbytes.com, lamassu.is, and bitaccess.co to name a few.

Grab a copy now!

Don’t forget to check out our Ittrium Telegram bounty while you’re at it.
Have any comments? Please feel free to Contact Us.

Why Ittrium?

Bitcoin is commonly referred to as digital gold.  In a similar way, we consider Ittrium to be the digital equivalent to the rare-earth metal Yttrium.  Yttrium is synonymous with modern technology; it’s used in the production of computers, smart phones, lasers and superconductors. 

Read more

Have you heard the news? There’s been 250 Ittrium Wallet Downloads! This is an exciting accomplishment and milestone for the team and the Ittrium Community. If you haven’t already, make sure you grab a copy now. Our wallet brings all the power of the Ittrium network in a sleek, simple design. We’re always looking to constantly improve our products and hope that all members will provide feedback as needed. Download it now to get involved.

In other news, we recently grew to 300+ members on Discord & passed block height 30,000!
Keen to find out more? Simple – contact us, we promise we won’t bite.