What is ICON

ICON is an ambitious next-generation blockchain project developed by theloop – a joint venture between Korean DAYLI Financial Group and 3 Korean universities.

ICON aims to interconnect (or “hyperconnect” as the ICON whitepaper calls it) various blockchains and serve as a hub, allowing transactions between different blockchains.

…the majority of blockchain projects place emphasis on their decentralization methodology and lack evidence of adoption in the real world due to their technological and business limitations. The ICON Project aims to overcome such challenges and help advance our society towards true hyperconnectivity.

The inter-connected blockchains can belong to banks, hospitals, government departments and private companies, and on ICON they can interact without paying fees to third-party networks or being delayed by them. ICON eliminates the middleman and enables emergent social trends like smart cities and decentralized infrastructures.

ICON - hyperconnecting the world
ICON – hyperconnecting the world

Adoption

First ICON project, launched in September 2017, is a KYC/AML authentication smart contract platform for Korea Financial Investment Consortium.

ICON loopchain
ICON loopchain

Other existing ICON projects include a collaboration with Korea University Hospital (cloud-based hospital information system) and with Korea’s top-tier Sogang University (a university currency to be used on campus).

ICON’s adoption is very strong because it is a project started by major Korean securities companies (like Samsung Securities and others) and universities, and it is expected to grow rapidly in 2018.

Team

The ICON project is developed by a Korean all-star team and headed by executives from the leading DAYLI Financial Group fintech company. The advisors include Don Tapscott (head of the Blockchain Research Institute and the author of the Blockchain Revolution bestseller) and executives from Pantera Capital, Coinsillium and Blockchain Lab.

Metrics

Tokens released: 400,230,000 ICX

Total supply: 800,640,000 ICX

History

ICON has been announced in August 2017. The ICO took place between October 20, 2017 and November 3, 2017 and raised 160,000 ETH.

Ian Balina graded ICON with a high 83.55% rating and an “All Star” tag, signifying a top ICO in his opinion.

ICON (ICX) ICO price was $0.11 at the pre-sale and $0.34 during the public sale. At the moment, pre-sale buyers are enjoying a staggering 5204% ROI vs. USD and a 5039% ROI vs. ETH.

In December ICON was listed on two Chinese exchanges, Binance and OKEx.

Roadmap

2017 Q4

V1 GA version

• Nexus Mainnet launch

• Reserve channel open

• IISS implementation

• DEX(Ethereum/ICX) launch

• Wallet Web/iOS/Android

2018 Q1

•v2nd Developers meet-up

• Expansion of DEX reserve pool to most of
major cryptocurrencies

• Expansion of partnership with blockchain
net works

ICON’s Potential

The basic proposition here is in enabling interactivity across the different blockchains that partner with ICON. ICX tokens will be used for cross-chain transactions and this is incredibly strong value!

The more blockchains partners with ICON, the higher the value of ICX will be.

On top of that, as a blockchain that hyperconnects other blockchains, ICON’s value will increase exponentially due to Metcalfe’s law.

ICON’s target is to be the next Ethereum. ETH’s market cap is currently about 40 times bigger than ICON’s, so the ICX tokens still have a lot of room to grow.

Competitors

  • Ethereum
  • EOS
  • Bancor

Where to buy

At the moment ICON is traded only on two Chinese exchanges:

  1. Binance
  2. OKEx

Resources

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