Icon ICX Review: Everything We Found Out

0
212

ā–ŗ Buy ICX: https://www.coinbureau.com/out/binanceex

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

ā›“ļø šŸ”— Helpful Links šŸ”— ā›“ļø

ā–ŗ Website: https://icon.foundation
ā–ŗ Whitepaper: https://bit.ly/2FtxVPy
ā–ŗ GitHub: https://github.com/vechain
ā–ŗ Staking on ICON: https://medium.com/posbakerz/how-to-stake-vote-in-icon-icx-5926e8e8a54b

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

šŸ“±ļø Socials šŸ“±

ā–ŗ Official Blog: https://medium.com/helloiconworld
ā–ŗ Twitter: https://twitter.com/@helloiconworld
ā–ŗ Telegram: https://t.me/hello_iconworld

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

šŸ“ Project Overview šŸ“

ICON is a decentralized transaction platform that allows blockchains with varying governance methods to interact with one another.

It aims to give universities, hospitals, and financial institutions the ability to communicate with one another across blockchains.

āš™ļø Technology āš™ļø

There are three components of the ICON network and they are the C-node, the C-Rep and the Citizen Node.

The C-node is the node that impacts the consensus part of the Community. C-Nodes can be used by both organizations like schools, hospitals, and banks, or by individuals. With a C-Node, node policies are defined by the members of the community.

The C-Rep is a representative of the community. It votes on governance, transaction verifications, and is chosen by the community. A C-Rep may change from one node to the next or from situation to situation.

The ICON Republic is the protocol used to connect various communities to one another. It is made up of Community Representatives along with other Citizen Nodes.

The citizen node is an individual node on the loopchain component of the ICON blockchain. Citizen Nodes do not have voting rights, and only have permissions to create transactions.

Loopchain is a high-performance network for enterprise use. It has Smart Contract features and is customizable.

ICON uses a Loop Fault Tolerance consensus mechanism which is an enhanced Byzantine Fault Tolerance Algorithm.

Other features included in the ICON blockchain are its IISS as well as its broader dApp offerings.

šŸ’°ļø Token šŸ’°

The ICX token were initially sold as ERC20 tokens in a crowdsale ICO that took place in September of 2017. ICON was only accepting ETH, with a target of 150,000.

The launch saw a total of just over 400 million ICX tokens sold at a rate of 1 ETH for 2,500 ICX.

In October of 2018, ICON completed a token swap where the ERC20 tokens were exchanged for the native ICX tokens. With ICONex wallet, those who hold ICX are supporting the ICON network, as well as voting on how the blockchain is governed.

šŸ‘Øā€šŸ’»ļø Team, Partners & Development šŸ‘Øā€šŸ’»

ICON is based in South Korea and most of the foundation board are from there.

ICON boasts an expansive team, with over 150 members across three distinct departments: Development, Business and Marketing, and Operations.

ICON also has a pretty established Advisory board including the likes of Don Tapscott. There are also a number of partnerships with blockchain based companies including the Blockchain Interoperability Alliance, Pantera Capital, Consilium and Crypto Bazar.

šŸ“ˆ Trading & Wallets šŸ“ˆ

ICX is listed on a number of exchanges including BitHump, CoinEx, Binance OkEX etc. They also recently were listed on Kraken.

Over 77% of this is taking place in Korean Won on BitHump which could lead to liquidity concerns. There are strong order books on the likes of Binance with decent turnover on the ICX / BTC order books.

For storage, ICON has their own native wallet that can be used for staking. You can also store your ICX in a hardware wallet like a ledger or a Trezor.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

šŸ“œ Disclaimer šŸ“œ

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#ICON #ICX #crypto #Staking #Review #Korea #Fintech #blockchain #trading #cryptocurrency

source

LEAVE A REPLY

Please enter your comment!
Please enter your name here