What is lungo (ING) Cryptocurrency Beginner’s Guide
Iungo is a global blockchain network that provides local Wi-Fi access. Users can access the Internet from any point on Earth. The connection is secure. In regions that don’t have Internet connectivity, Iungo is an option. The demand for information is leading to the formation of new, local Internet service providers. They can offer Internet service to the local community through Iungo and get paid for it. The global ISP market is valued at $620 billion annually.
Free and Premium Options with Iungo (ING)
The Iungo network is made of millions of Wi-Fi hotspots. There’s an Android and iOS app. The premium version includes VPN service and no ads. It’s also very fast and users have unlimited bandwidth.
Providers have access to plug & play software. The platform is ready for e-commerce. It is open-source. Everything can be done without the assistance of IT personnel. The premium version offers additional features including revenue sharing, email marketing, in-app ads, technical support, and user statistics.
Wi-Fi Router Information
Wireless Internet access is provided through Wi-Fi routers. Each router has IUNGO firmware installed. Each router is connected to a local internet service provider. Each router has ports for devices such as PoS terminals and cameras. Each access point has two Wi-Fi networks. One is open and the other is encrypted. Open network beacons are broadcasted. Users will be given the option to install a mobile wallet application or connect to a secure IUNGO cloud wallet. The authenticated/encrypted connection is for users with a mobile wallet.
The firmware is based in Linux and the OpenWrt project. Authentication is done through EAP-TLS authentication. New encryption keys are generated for each Wi-Fi client session.
Iungo (ING) Fake Identities (Avatars)
Wallets, service providers, and service gateways have cryptographic fake identities. Iungo re-uses the identity mechanism of the Ethereum network. Each entity will create a key pair (Elliptic Curve) for signatures. The pair is also used to calculate the identity of the token holder. The token contract confirms identity with the signature.
Iungo (ING) Token Information
Iungo utilizes blockchain technology. Iungo created a native digital token for this platform. It is an ERC20 token. It is called IUNGO Token (ING). This token is used to activate services on the platform. It is used to pay for Iungo Wi-Fi services. The tokens are backed by Ethereum smart contracts. ING tokens can be traded on cryptocurrency exchanges.
ING is traded on several cryptocurrency exchanges including Kucoin, YoBit, and IDEX. The ING token is paired with BTC and ETH tokens. ING has a market capitalization of $1.89 million. Daily trading volume exceeds $4,700. The circulating supply is 40,000,000 ING. The total supply is 62,553,604 ING.
The crowdsale was held in December 2017 and January 2018. To ensure fast payment cycles, an off-chain micropayment mechanism was used. 100 million tokens were created. The exchange rate of an ING token at the time of the crowdsale was 1 ETH = 1,000 ING tokens. Ether was accepted as payment during the ICO. Unsold tokens were destroyed. The funds from the crowdsale were distributed as follows:
HR – 10%; Legal – 10%; Engineering – 30-40%; Marketing – 30-40%; Other – 10%