ILCOIN is a blockchain-based data storage system. According to the website, ILCOIN is a storage mechanism developed to provide a foundation for the ILCOIN’s native cryptocurrency. The project is also designed to open a wide range of safe and transparent data storage possibilities. The project seeks to establish various smart contract systems and launch decentralized applications (DApps) running on the native ILCOIN blockchain system.

According to the whitepaper, the ILCOIN project aims to serve big businesses. In other words, the ILCOIN project aims to create a blockchain platform that provides users an opportunity to achieve their long-term business goals safely. The project further aims to go past the regular usage of cryptocurrency and work on the unattended opportunity achieved with cryptocurrencies and blockchain technology. The project’s mission is to develop a decentralized hybrid blockchain system that intends to have ILCOIN as a stable, safe, and widely accepted payment method behind it.

The project claims to use such technology, making it a kind of base that can store a large amount of data. According to the website, ILCOIN is the first SHA-256proof of work-based system that can be used as storage for a large amount of data and with a low price available in the market. The project uses Command to Protocol (C2P), which helps the project avoid network attacks and makes the blockchain a safe place for storing data. The Rift protocol changes and solves the problem of block size and network limitation of traditional blockchains. Decentralized Cloud Blockchain is another technology the project uses to provide a fully encrypted environment for storing files safely.

ILCOIN cryptocurrency is mined on the ILCOIN blockchain. The token provides a stable, operational, and financial basis for the entire blockchain ecosystem. The utility token seeks to be stored safely in wallets built on various ecosystems. The token can also be transferred directly to anyone without any cost. A user can also see their transaction history via their blockchain explorer. The token can be traded on various cryptocurrency exchanges. The project seeks to place ILCOIN among the ten most utilized cryptocurrencies of the world.

SYDYG acquired ownership of ILCOIN in August 2017. The whitepaper was released in March 2020. The core team members of the project include Ramiro Faro Velez (CEO), Norbert Goffa (Director), Horatiu Dan (Business Manager), and Alyona Karpinskaya (Advisor).