Ilgamos International has state-of-the art mining tools. Many years of experience and our professionals’ best practice guarantee businesslike and secure operation. We develop our system continuously in order to serve our partners at the highest possible level.
SHA-256 is the most secure algorithm which is available on the crypto market. It is the base of Bitcoin and Ilcoin. SHA-256 is a member of SHA-2 cryptographic hash functions designed by NSA. SHA stands for Secure Hash Algorithm. Cryptographic hash functions are mathematical operations run on digital data; by comparing the computed "hash" (the output from execution of the algorithm) to a known and expected hash value, a person can determine the data's integrity.
Proof of work is a protocol that has the main goal of deterring cyber-attacks such as a distributed denial-of-service attack (DDoS), which has the purpose of exhausting the resources of a computer system by sending multiple fake requests. The main working principles are a complicated mathematical puzzle and a possibility to easily prove the solution.
Proof of work is maybe the biggest idea behind the Nakamoto’s Bitcoin white paper – published back in 2008 – because it allows trustless and distributed consensus. Proof of work is a requirement to define an expensive computer calculation, also called mining, that needs to be performed in order to create a new group of trustless transactions (the so-called block) on a Blockchain.
Mining is a process of generating proof of work. The way it works is that all miners compete to find a number that, when added to the block of transactions, causes this block to hash to a code with certain rare properties. Based on the cryptographic features of the hash function used in this process, finding such a rare number is hard, but verifying its validity when it is found is easy. In order for the ledger to be considered self-consistent we require that every block contains such rare number whose hardness we control based on the size of the participating network (a value expressed as a hash-rate).
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