DAGO MINING

11 min readApr 21, 2019

DAGO Mining is the Future Business of Coins

Before we get to know Dago mining, it is better to recall Cryptography (or cryptology; from Greek κρυπτός kryptós, “hidden, secret”; and γράφειν graphein, “write”, or -λογία logi, “Ilmu”) or sandisastra are expertise and knowledge of the ways to secure communication on its presence on third parties. [2] In general, cryptography is about constructing and analyzing communication protocols that can block opponents; various aspects of information security such as confidential data, data integrity, authentication, and non-repudiation are central to modern cryptography. Modern cryptography occurs because there are intersections between the disciplines of mathematics, computer science, and electrical engineering. Applications from cryptography include ATMs, computer passwords, and E-commerce.

Cryptography before is a synonym of “encryption”, the conversion of sentences that can be read becomes seemingly implausible. The author of the encryption message divides the password-breaking technique needed to restore original information if only with the desired recipient, so as to prevent unwanted people from doing the same. Since World War I and the arrival of computers, the methods used to manage cryptology have increased in a complex manner and their applications have spread out.

Modern cryptography is very much based on mathematical theory and computer applications; Cryptographic algorithms are designed on computational endurance assumptions, making this algorithm very difficult to solve by the enemy. Theoretically, it is very difficult to solve cryptographic systems, but it is not feasible to do so in practical ways. This scheme is therefore called computationally very safe; theoretical progress can improve integer factorization algorithms, and improve computational technology that requires this solution to be continuously adapted. There is an information security scheme that really cannot be broken even with unlimited computing, but this scheme is very difficult to implement.

Technology related to cryptology has many legal problems. In the UK, the addition of the Regulations for Investigation of Acts of Action requires accused criminals to submit key decryption if requested by law enforcement. Otherwise the user will face criminal law. The Electronic Frontier Foundation (EFF) is involved in a case in the United States that questions if a suspect must submit the key to their decryption to the lawyers is unconstitutional. EFF argues that this regulation is a violation of the right not to be forced to suspect itself, as in the Fifth Amendment to American Constitution.

Blockchain was originally a block chain that is a growing record, called a block that is connected and secured using cryptographic techniques. Each block usually contains cryptographic hashes from the previous block, timestamp, and transaction data. By design, the blockchain is resistant to data modification. Blockchain is an open distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. For its use as a distributed ledger, blockchain is usually managed by a peer-to-peer network collectively by following certain protocols for communication between nodes and confirming new blocks. Once recorded, the data in the block cannot be changed retroactively without changes to the next blocks, which requires the majority consensus of the network.

The Blockchain is designed from the start to be safe (secure by design) and is an example of a distributed computing system with high Byzantine Fault Tolerance (BFT). A decentralized consensus can be achieved by blockchain. This makes the blockchain suitable for recording events, medical records, and other record management activities, such as identity management, transaction processing, evidence documentation, food traceability and voting.

Blockchain was created by Satoshi Nakamoto in 2008 and used as a ledger for bitcoin cryptocurrency public transactions. The discovery of the blockchain for bitcoin makes it the first digital currency to overcome the problem of double-spending without the need for trusted authorities or central servers. This bitcoin design has also inspired other applications. Satoshi Nakamoto was famous after he announced the purpose and purpose of bitcoin for the first time through a research paper since 2008. As Satoshi Nakamoto famous for a short time since 2008, his name vanished in a short time also from the development of bitcoin since mid 2010 after all the assignments related to currency development and the main internet site were devoted to currency activities for volunteers who played an active role in bitcoin associations.

What is cryptocurrency and how does it work?

Cryptocurrency is an encrypted digital asset that is used for exchange. Digital assets used to complete exchanges through cryptographic techniques, can offer maximum security for transactions and total control over the realization of other currencies.

Cryptocurrency is born as an option for traditional currencies and is more secure and independent because transactions are encrypted, hence the name; furthermore, there is no possibility to trace the origin of the transaction.

But what is cryptocurrency? And where can they be bought?

The fact that there is no central body that issues cryptocurrency is, in fact, a positive fact, which results in three advantages:

Cryptocurrency is not subject to inflation and deflation
Transactions in cryptocurrency have no intermediary fees
Transactions in criptovalue guarantee total anonymity

Application

Blockchain technology can be integrated into several fields. The main use of the blockchain now is as a distributed ledger for cryptocurrency, especially bitcoin. Although some central banks, in countries and regions such as India, China, Hong Kong, the United States, Sweden, Singapore, South Africa and the UK are currently reviewing Central Bank Issued Cryptocurrency (CICC), no one has implemented it until December 22, 2016.

Decentralization

By storing data throughout a peer-to-peer network, the blockchain eliminates a number of risks that exist in centrally held data. A decentralized blockchain can use ad-hoc message delivery and distributed networks.

The peer-to-peer blockchain network does not have centralized vulnerability points that can be exploited by computer hackers; also does not have a focal point of failure. The blockchain security method uses public-key cryptography. The public key (long and random sequence) is an address in the blockchain. Token values sent through the network are recorded as the property of the address. Private keys such as passwords that give owners access to their digital assets or a means to interact with various features supported by blockchain. The data stored in the blockchain is generally considered to be incorruptible.

Each node in a decentralized system has a copy of the blockchain. Data quality is managed through mass database replication and computational trust. There are no “official” copies centered and no users who are “trusted” exceed the others. Transactions are broadcast to the network using software. The message is sent based on the best effort. Mining nodes validate these transactions, add them to the blocks they create, and then broadcast the completed blocks to the other nodes. The Blockchain uses a variety of time-stamping schemes, such as proof-of-work, to link changes. Other alternative consensus methods include proof-of-stake. The decentralized growth of the blockchain is also accompanied by the risk of centralization of nodes because the computer resources needed to process larger amounts of data become increasingly expensive.

In the last years many of them have been born, in this guide to cryptocurrency we will present five of the most famous and two that are famous in China and Asia, but less in Europe :

What is Bitcoin?
Designed in 2009 by a group of people behind the pseudonym Satoshi Nakamoto and based on a P2P (peer-to-peer or person-to-person) system that uses databases that are distributed among nodes, that is among all user’s computers, to track all transaction. Even if it is an open source system, namely the public, the authenticity and regularity of transactions is guaranteed by the public cryptography key, in fact, no one can spend Bitcoin that is not the rightful owner.

Bitcoin is considered to be the actual unit of account and its value can vary for several days, or even hours. If you want to always have a fairly new situation, there are sites like Spectrocoin, one of the most frequently used where you can exchange Bitcoin with real money, or even BitcoinCharts, which instead shows the value of Bitcoin on all the major exchange sites.

What is Ethereum?
This is a cryptocurrency that can be used to manage smart contracts, such as financial market-specific contracts or crowdfunding platforms.

The positive aspect is maximum security guaranteed, without the possibility of fraud, censorship or interference from third parties.

What are the disadvantages? There is no limit on the amount of Ethereum in circulation and, in the case of mining, there is no typical Bitcoin mechanism, which gives increasing time intervals, when units are made, so for this reason, Ethereum positions itself behind them in terms of quotations.

In addition, in June 2016, Ethereum experienced an attack by a hacker who exploited weaknesses in the network. This transaction, which is worth more than 50 million dollars, accelerates the recording of Ethereum and actually removes about 1/3 of the cryptocurrency circulating from the market. Ethereum developers, then, to solve the problem, have made a new version of the project which, within a few hours, around 80% of users have joined. Membership requires the conversion of Ethereum to the new version.

What is Monero?
La Monero, founded in 2014, is the most important example of using the Cryptonight algorithm, which was created to offset the lack of privacy of Bitcoin. In fact, if you use Bitcoin, the path is documented and followed during the transaction. The Cryptonight algorithm is capable, on the other hand, of ensuring maximum confidentiality in this case, it is not possible to track paths made by virtual coins.

Thanks to a new algorithm, called Ring Confidential Transaction, it is possible to further enhance the confidentiality of transactions, allowing to hide the values and identities of those who take part in the transaction.

Its success is also due to the fact that it is the virtual currency favored by Dark Web, in particular, relating to online drug trafficking and the purchase and sale of weapons. The reason, of course, is more privacy than other types of coins of the same type, making it difficult to track each operation.

What is NEO?
During a meeting at Microsoft headquarters in Beijing during June 2017, Antshares, the first open source platform created in China, announced a complete rebranding. During this conference, the names and brands of new platforms were announced: NEO, namely innovation, innovation, and the younger generation.

Rebranding Antshares represents a new turning point for the development of the Chinese blockchain community.

To better understand, developer Ethereum uses the Solidity code for their blockchain technology, while Neo supports the use of Java, Kotlin, Go and Python, thus greatly simplifying the work of developers.

In this way, the NEO aims to include more programmers, thus increasing its community.

What is Litecoin?
Litecoin is the second virtual currency, made two years after Bitcoin.
Initially, it caught the attention of investors, due to the fact that it was produced in greater numbers compared to Bitcoin but over time, it was unable to find a clear and consolidated position and consequently lost strength, as the value and amount of exchange harms other cryptocurrency.
Litecoin was conceived by Charles Lee, who after resigning from Google, in 2011 had the bright idea of providing his computer skills, in the new cryptocurrency market. Litecoin can be defined as an online network that people can use to make payments to other entities.
Just like Bitcoin, Litecoin also exploits Peer-to-Peer and decentralized technology, which means they are not controlled by any institutional entity.
But there are many other advantages, such as:
- no commission, which usually must be issued when an operation is carried out with financial intermediaries

- security and traceability, in fact, transactions are included in the Blockchain, which is nothing but a kind of large accounting book, in which all operations are carried out with cryptocurrency, not only with Litecoin.

Blockchain is public and this allows the operator to verify that money transfers are actually done by partners. In addition, transactions are completed in complete security for the parties, thanks to the possibility of acting anonymously in total, because we identify ourselves with a code that matches your position, and not with your personal data.

Litecoin is fast, it’s straightforward.

Another common feature with Bitcoin is the decision to place the number of Litecoin already on the market. Unlike the cryptocurrency created by Satoshi, Litecoin will reach a maximum of 84 million units.

What is Dash?
Coin Dash works in a way that is very similar to Bitcoin, because this cryptocurrency is also fully decentralized and therefore makes it possible to send and receive anonymous payments, thanks to encryption. Like Bitcoin, the crypt currency Dash is also based on the public blockchain, where all transactions carried out by users are contained.

Dash, however, is very fast compared to Bitcoin, and according to experts, this is one of the main reasons that makes the Dash more valued by experts than Bitcoin. With Dash, it is therefore possible to send payments faster than Bitcoin

What is Omisego?
Omisego, founded by JunHasegawa and spread to Japan, Thailand, Indonesia and Singapore, is a sign with certain characteristics. Omisego’s goal is to create an international payment platform at very limited costs. The toisOmisego function is not to be a transaction object, because this can occur in any currency. Their aim is to be able to exchange Fiat currencies without switching from the banking system, directly through the exchange of Ethereum, Bitcoin and other cryptocurrency. OmiseGo will be excluded from the banking system only by coming to directly have official reserves in the countries where it will operate.

This system is based on two important elements:

ad block blockchain, but connected with ethereum and bitcoin;

special wallet for ciptovalute international exchanges

The wallet is of the SDK type and is white, which can be easily branded by companies that use the system. Blockchain is a type of PoS, can be scaled without permission and equipped with an internal clearing house.

Wallet provides access to debit and credit cards, as well as personal payment platforms

So what’s the Tokisego tokens? This is needed to damage the transaction, which is to get a small percentage of the intermediaries that are still provided by the system.

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