ICON ($ICX), (aka South Korean NEO) is looking to ‘Hyperconnect Korea‘ and other markets with a completely decentralised ecosystem encompassing major industry such as the banking, medical, tertiary and government sectors. ICON is looking to incorporate AI, DAPPS, traditional infrastructure propelling the economy into a new era.
ICON is a project created by Dayli Financial Group (net-worth over $4 billion) and also the owner of Coinone a prominent South-Korean cryptocurrency exchange.
According to the team – ICON is in the right place with Korea being the top ranked ICT country in the world with the 11th largest economy. Not only this Korea has been a known test-ground for companies such as Facebook.
Another positive factor for ICON is Koreans hype and buzz for Cryptocurrencies which has seen 3/10 top exchanges being Korean based. ICON is a major contender
TITLE/TICKER : Icon/$ICX
COMPANY ORIGIN : South Korea
PLATFORM : Own Blockchain
FOUNDERS : Dayli Financial Group
PURPOSE : Decentralised ecosystem (Korea NEO)
POINT OF DIFFERENCE :
MAJOR PARTNERS : Interoperability Alliance (Aion, Wanchain, ICON)
FUND RAISING DETAILS/TOKEN DISTRIBUTION :
WEBSITE : Icon Website
WHITE PAPER : Icon English Whitepaper
WORKING PRODUCT ? : Yes/Mainnet
Whos behind ICON?
How does ICON work?
ICON runs on its loopchain platform and ICON connects its wider blockchain ecosystem via the ICON republic. C-reps (community representatives) are linked to communities which in turn are connected to ICONS Nexus (a loopchain based blockchain that is the back-bone of the ICON republic).
There are five major components to the ICON network;
- ICON Republic
ICON can best be described as a ecosystem of blockchain communities connected through ICON Republic. ICON Republic acts as a consensus mechanism which allows each sole or individual community to decide the best plan of action and course to take all while mediating between the communities/parties.
Each individual ICON community has its very own node (C-Nodes) that allows each community to govern and represent themselves independently. Residents can register as Citizen nodes to use decentralised applications on the ICON network but have no bearing or weight in ICON community consensus decision making.
Voting rights are selectively set aside for ICON community reps who are elected by their own communities. Chosen reps. are responsible ICON network activity and are compensated with ICON (ICX) tokens for resources used/spent.
ICON has also created a decentralised exchange or DEX which will be introduced 2018/19.
What problems is ICON looking to solve?
Icon is looking to connect Korea the same way NEO is looking to connect China. Icon is partnering with major industries and government/tertiary institutions in Korea to create a unified system which stores records, identities, business operations, government activity and much more. As stated South-Korea has been and still is a prominent, forward-thinking and innovative economy where the likes of Facebook have tested and deployed new technology.
Icon will be releasing its node/masternode programme in the near future – see here for updates or reach out if you want to stake a node with us or independently.
ICON boasts a very impressive core team and partners/advisors. See here
Interoperbility alliance – Wanchain, Aion
Here is a great map of ICON’s partnerships and ecosystem to date – this is by far one of the most impressive ecosystems to date, and we are in our infancy of development and growth as a industry.
Credit : Spec Rationality
ICONs target markets are very specific e.g Korea/Japan and surrounding markets. It is apparent at this point that ICON has the Korean market sown up – however the Japanese market is dominated to date by NEM and China via NEO.
The race will be to integrate abroad or find a way to partner and connect with other interoperable blockchains.
Where can you Purchase ICON ($ICX) tokens?
Icon/ICX tokens are available to purchase via Binance (top volume) currently, we expect more exchanges to be announced in the short term.
How to protect & store your ICON ($ICX) tokens?
Outlook for ICON
ICON is a very promising project with partnerships with the South Korean Government (ICON will be responsible for all govt. imports/exports). Icon also has multiple partnerships with Universities, Banks, Hospitals and more. Dayli Financial group and their network of partners and resourcing puts ICON in a very favourable position vs other blockchains and projects.
Keep ICON firmly on your radar.
Reach out if you want to learn more about ICON or any other project/topic!
Disclaimer : The Author of this article is currently holding ICON ($ICX) at the time of writing. All content is research, opinions and personal view points from our Analysts. This is not financial advice and should not be treated as such. If you have any queries please contact [email protected]