ICON (ICX)

The exchange rate of one ICX at 13:36 UTC is 0.2214$

Chart | Average rate

ICON is a Korean decentralized application (dApp) network designed for the “worldwide hypelink”, it serves as an intermediary between various blockchains and applications built on top of them. With ICON, industries such as e-commerce, banks, universities, stock market, and hospitals can exchange data quickly and frictionlessly despite management differences and siled networks.

Which ICON features attach value to it?

* It connects blockchain networks together.

* dApp developers can serve users and industries at the same time.

* It has a unique and innovative technology.

* It is one of the largest blockchain networks in the world.

Challenging technology

* Its core technology is called Loopchain, which is a blockchain built to communicate with other blockchains and enable real-time business-to-business transactions through the use of smart contracts built on trusted environments (SCORE) and blockchain signature infrastructure (BSI).

* The Loop Fault Tolerance consensus algorithm is used in Loopchain to build consensus on the network faster than other common consensus algorithms.

* Nexus is the central platform to which each blockchain participant is connected. It acts as an indirect democracy where representatives from each blockchain vote and propose policies for the parent network. It is similar to the Internet, because it, as a "network of networks", provides independent control to various blockchains and provides reciprocal connections when necessary.

* The proof-of-stake algorithm allows ICX holders to stake their tokens for passive income, as well as vote for representatives, who in turn will vote on network decisions on their behalf.

* ChainID is the world's first blockchain-based collaborative authentication service based on ICON's Loopchain to create a more advanced digital identity system.

Advantages

* A scalable system designed for mass deployment.

* It works seamlessly with other 3rd party blockchain networks.

* Has strong institutional support.

* It has a large team of experts.

* It has its own mainnet and work products.

Disadvantages

* The company has many competitors in the field of interaction networks, including Aion, Interledger and Ark.

* Its activity is restricted by Korean regulations.

* Despite all her achievements, it is young and is still in the development stage.

Future roadmap

The Deblock project will work on the ICON network to develop over 300 new blockchain projects within 3 years.

Conclusion

Despite the legal restrictions imposed by the South Korean government, ICON has the solid foundation needed to become a successful project. However, since it is still in development and has significant competition, only time will tell how well it actually performs.