InfiniLooP (IL8P) is an efficient, relatively new implementation of the well-proven Blackcoin (BLK) codebase platform. Following its initial deployment, IL8P actively employed hybrid proof-of-work (PoW) and proof-of-stake (PoS) coin generation. After 10,000 blocks, IL8P has transitioned to purely PoS block validation. InfiniLooP code incorporates frequent difficulty re-tergeting, along with basic anonymization features.
During the early PoW and PoS phases, block rewards were designed to strongly encourage active participation by maximum number of new stakeholders. Since then, the block reward was decreased from 1.5 coins / block to 0.75 coins / block. This significant reduction in block reward places InfiniLooP among some of the highest stock-to-flow cryptocurrencies on the market today (see EWMCI Stock-to-Flow Index for more information).
Currently, the block reward is capped at 0.75 IL8P for each PoS-generated block. New InfiniLooP coins are generally more difficult to “win” due to increasing competition between existing active addresses (e.g., the more active addresses, the less likely any particular address will be able to win a particular block reward). Given the above UTXO generation characteristics, new IL8P supply is said to be highly restricted and deflationary, with only 1.5% annual inflation that is set to decrease as the total number of InfiniLooPs increases.
Proof-of-Stake (PoS) refers to the use of currency itself (e.g., your ownership of InfiniLooP) to achieve certain pre-defined goals. In InfiniLooP network, PoS is used to provide minting and transaction processing. Because at the “network-level” there are multiple active participants who “stake” their UTXOs, a significant number of coins (e.g., collateral) will be present on deposit (and thus not immediately free to move or be spent). This, in turn, stabilizes the network and protects it from malignant, third-party actors by making attacks costly, impractical, and in effect self-destructive.
The enhanced energy efficiency of InfiniLooP refers primarily to the long-term environmental benefits of PoS. This is because InfiniLooP is not dependent on the use of energy-hungry PoW coin-generating application-specific integrated circuits (ASICs), thus reducing the overall network energy consumption and reducing its environmental impact. At the same time, PoW is the most practical way of supporting the early phase of minting of a cryptocurrency like InfiniLooP. Because of this, the original developer team decided to keep PoW as part of InfiniLooP’s hybrid design.
In our gradual transition toward decentralized finance (DeFi) we opted to pursue the BIP-65 route of utilizing atomic swaps. Using this unique approach, DeFi capabilities are achieved via trustless, peer-to-peer interactions where each end-user fully controls their private keys throughout the entire process. Consequently, InfiniLooP is featured as one of many UTXO cryptocurrencies on the AtomicDEX .
There are three main ways of acquiring InfiniLooP (IL8P): [1] Purchase with fiat currency using a specialized vendor, such as BexCrypto ; [2] Exchanging other cryptocurrencies for IL8P on platforms such as FreiExchange , FreiXLite or XeggeX or Komodo Wallet ; and [3] Selling goods or services for IL8P, using platforms such as the EWMCI Shop .
There are several ways of securely storing InfiniLooP (IL8P): [1] Our desktop Qt wallet ; [2] The state-of-the-art Komodo Wallet ; [3] The Gemmer Wallet by Primecoin and [4] Wally.ID multi-wallet. In addition, we are working on our own, native EWMCI wallet platform called CoinMunityWallet. Additional resources and links can be found on the EWMCI Resources Page EWMCI Resources Page.