ICON is a South Korean company that develops blockchain technologies and released the ICX cryptocurrency in 2020.
The ICO began and ended on the same day - September 20, 2020. During this time, investors purchased 200 million ICX tokens (a quarter of the total supply of coins) in the amount of $42,750,000. Then the price of one token was 11 cents, now its cost is around 28 cents, and at its peak it reached $12.
ICX chart
Key feature of the ICON project
Blockchain by default is managed by a specific network and therefore connecting different blockchains is not possible. Yes, but not quite... ICON is an attempt at such a connection. Sounds revolutionary, doesn't it? This is true. There are 4 types of connections in the ICON network:
- Connection between nodes within the same community.
- Connection between nodes in the ICON* Republic.
- Connection between the community and the ICON Republic.
- Connection between different communities.
Republic ICON is what the creators call a connecting link for various communities, acting as a communication channel between them.
A community is a network consisting of different nodes with the same management system. Financial institutions, governments, schools, healthcare, Bitcoin and Ethereum are all considered communities.
Republic:
- C-Node (Public Node) – a block responsible for management, plus it influences the general consensus, i.e. the decision-making process for managing the community. C-Nodes are available to both individuals and organizations (banks, brokers, insurers, schools, governments, etc.)
- A C-Rep (Community Representative) is both a representative of its community and, as a result, one of the governing bodies of ICON. He is selected based on the decision of each member of the community he represents. Also, if necessary, the C-Rep can be re-elected.
- Citizen Node is a “resident” of the Republic who participates in voting for C-Rep and can create transactions.
ICON Nexus is our loopchain, C-Rep is a portal.
All communities can make transactions through portals using Nexus.
To ensure the system works, ICON released ICX, a means of connecting the two communities.
Where can I buy ICON (ICX) cryptocurrency?
It is noteworthy that there is no mining as such in the ICON system, so the only way to get ICX tokens is to purchase them on the exchange. This can be done on such popular resources as Binance (Review, instructions) and YoBit (Review, instructions). If you do not yet have any digital coins for exchange, then you can purchase them for regular traditional money on the Exmo (review, instructions).
Technical analysis
The coin is near the yearly low, feeling its bottom, and has been consolidating since August 13th. Volumes gradually begin to increase and the key price level is 0.0001000 BTC. If you fix above it, there are chances to go to 0.0001350 and 0.0002350, respectively. You can see one of the possible development options in the graph.
ICX/BTC chart, 1D binance.com
ICX cryptocurrency rate and chart
In the ranking of the overall capitalization of digital coins, the ICON cryptocurrency ranks 22nd, and the capitalization of this coin is at $1,360,590,523, the current rate of 1 ICX is $3.57. The current daily trading volume is $56,982,800. There are currently 381,495,014 ICX coins in circulation.
ICON chart for the last six months:
So, at the beginning of November 2020, 1 ICX coin cost about $1. By the beginning of December, the rate began to grow rapidly and reached $6.4. ICON cost the most on January 10, 2020 – about $12. Now the rate has adjusted to $3–4.
Main advantages of the ICON system
- the ability to make multi-channel payments with setting up separate channels for different tasks;
- coordinated algorithm LoopChain Fault Tolerance (LFT) for fast processing of payment transactions online;
- possibility of widespread use of smart contracts;
- modular architecture with the ability to configure each network module for expansion (scalability);
- ICX inflation limit – no more than 20% per year;
- delegated proof of the quote consistency algorithm;
- Interchain – the ability of other networks to interact with the ICON network.
ICX rate:
| 1 ICX = | 1.87500000 AED |
| 1 ICX = | 0.00000000 AFN |
| 1 ICX = | 54.0200000 ALL |
| 1 ICX = | 211.500000 AMD |
| 1 ICX = | 518.360000 AOA |
| 1 ICX = | 0.74390000 AUD |
| 1 ICX = | 0.00000000 AZN |
| 1 ICX = | 0.49020000 BAM |
| 1 ICX = | 0.00000000 BBD |
| 1 ICX = | 43.6300000 BDT |
| 1 ICX = | 1.26700000 BGN |
| 1 ICX = | 0.12490000 BHD |
| 1 ICX = | 3.81600000 BOB |
| 1 ICX = | 2.85200000 BRL |
| 1 ICX = | 0.00000000 BSD |
| 1 ICX = | 0.00004523 BTC |
| 1 ICX = | 0.00000000 BTN |
| 1 ICX = | 16.1500000 BTS |
| 1 ICX = | 1.38800000 BYN |
| 1 ICX = | 0.70500000 CAD |
| 1 ICX = | 0.48450000 CHF |
| 1 ICX = | 3.71200000 CNY |
| 1 ICX = | 1867.52000 COP |
| 1 ICX = | 331.180000 CRC |
| 1 ICX = | 11.7100000 CZK |
| 1 ICX = | 0.00578300 DASH |
| 1 ICX = | 4.43300000 DKK |
| 1 ICX = | 155.970000 DOGE |
| 1 ICX = | 32.6200000 DOP |
| 1 ICX = | 12.0000000 DZD |
| 1 ICX = | 266.060000 EAC |
| 1 ICX = | 8.64700000 EGP |
| 1 ICX = | 10.4000000 EMC |
| 1 ICX = | 12.9300000 ETB |
| 1 ICX = | 0.00124700 ETH |
| 1 ICX = | 0.44910000 EUR |
| 1 ICX = | 0.30270000 FCT |
| 1 ICX = | 51.4000000 FTC |
| 1 ICX = | 0.40560000 GBP |
| 1 ICX = | 1.65400000 GEL |
| 1 ICX = | 0.10190000 GGP |
| 1 ICX = | 0.01332000 GIP |
| 1 ICX = | 4.87000000 GTQ |
| 1 ICX = | 4.11700000 HKD |
| 1 ICX = | 13.5700000 HNL |
| 1 ICX = | 3.45000000 HRK |
| 1 ICX = | 171.140000 HUF |
| 1 ICX = | 7908.42000 IDR |
| 1 ICX = | 1.85300000 ILS |
| 1 ICX = | 41.0200000 INR |
| 1 ICX = | 496.410000 IQD |
| 1 ICX = | 111166.1000 IRR |
| 1 ICX = | 69.5200000 ISK |
| 1 ICX = | 96.1200000 JMD |
| 1 ICX = | 0.39370000 JOD |
| 1 ICX = | 56.5400000 JPY |
| 1 ICX = | 55.2000000 KES |
| 1 ICX = | 28.7000000 KGS |
| 1 ICX = | 1850.92000 KHR |
| 1 ICX = | 621.090000 KRW |
| 1 ICX = | 219.750000 KZT |
| 1 ICX = | 784.290000 LBP |
| 1 ICX = | 106.710000 LKR |
| 1 ICX = | 0.00939000 LTC |
| 1 ICX = | 5.14400000 MAD |
| 1 ICX = | 7.34900000 MDL |
| 1 ICX = | 0.00000000 MGA |
| 1 ICX = | 607.100000 MMK |
| 1 ICX = | 0.00000000 MVR |
| 1 ICX = | 542.740000 MWK |
| 1 ICX = | 11.7600000 MXN |
| 1 ICX = | 2.21800000 MYR |
| 1 ICX = | 0.00000000 MZN |
| 1 ICX = | 11.7600000 NAD |
| 1 ICX = | 247.880000 NGN |
| 1 ICX = | 0.51220000 NMC |
| 1 ICX = | 5.08700000 NOK |
| 1 ICX = | 71.4600000 NPR |
| 1 ICX = | 2.48200000 NVC |
| 1 ICX = | 40.7500000 NXT |
| 1 ICX = | 0.82410000 NZD |
| 1 ICX = | 0.22060000 OMR |
| 1 ICX = | 0.51520000 PAB |
| 1 ICX = | 1.89500000 PEN |
| 1 ICX = | 3.06700000 PGK |
| 1 ICX = | 42.7600000 PHP |
| 1 ICX = | 87.4300000 PKR |
| 1 ICX = | 1.98200000 PLN |
| 1 ICX = | 1.73000000 PPC |
| 1 ICX = | 3690.60000 PYG |
| 1 ICX = | 1.82000000 QAR |
| 1 ICX = | 2.21800000 RON |
| 1 ICX = | 58.1000000 RSD |
| 1 ICX = | 38.2000000 RUB |
| 1 ICX = | 2.58900000 SAR |
| 1 ICX = | 4.57200000 SEK |
| 1 ICX = | 0.74990000 SGD |
| 1 ICX = | 0.00000000 STR |
| 1 ICX = | 0.00000000 SVC |
| 1 ICX = | 10.8400000 SZL |
| 1 ICX = | 16.3500000 THB |
| 1 ICX = | 1.02600000 TND |
| 1 ICX = | 299.540000 TOP |
| 1 ICX = | 3.91200000 TRY |
| 1 ICX = | 4.64700000 TTD |
| 1 ICX = | 18.0100000 TWD |
| 1 ICX = | 1330.48000 TZS |
| 1 ICX = | 14.4200000 UAH |
| 1 ICX = | 1945.86000 UGX |
| 1 ICX = | 0.52760000 USD |
| 1 ICX = | 22.8600000 UYU |
| 1 ICX = | 6494.21000 UZS |
| 1 ICX = | 2121287.7000 VEF |
| 1 ICX = | 7598.64000 VND |
| 1 ICX = | 1.80900000 VTC |
| 1 ICX = | 57.5500000 VUV |
| 1 ICX = | 0.00000000 WST |
| 1 ICX = | 330.010000 XAF |
| 1 ICX = | 0.00581100 XMR |
| 1 ICX = | 351.240000 XOF |
| 1 ICX = | 6.62200000 XPM |
| 1 ICX = | 1.80100000 XRP |
| 1 ICX = | 9.65900000 ZAR |
| 1 ICX = | 10.3900000 ZMW |
ICX rate and ICON prospects
By the beginning of 2020, the capitalization of the ICON cryptocurrency reached $3.024 billion, the exchange rate was $7.96, which allows it to occupy a high 17th place in the Coinmarketcap.com rating among several hundred cryptocurrencies.
During its existence, the ICON project has proven its viability and demonstrated good rates of development. The open-source blockchain network created by South Korean engineers employs dozens of organizations that benefit from this technology. Today, this is one of the most high-tech ICOs in the world with established partnerships, support from government agencies, private companies and media resources. ICON may soon become a strong competitor to blockchains such as NEO and QTUM.
Online exchange rate ICON to dollar and ruble. Schedule for a day, a week, a month, six months, a year.
- 0shares
- 0
- 0
- 0
Prospects for ICON cryptocurrency
If you go to the official website of the ICON cryptocurrency - www.icon.foundation, you will see that this fund is supported by large investment funds such as: Kenetic Capital and CM Crypto Capital. This factor has a positive effect on its value and prospects.
We can also highlight the following aspects that will affect the value of the ICON cryptocurrency in the future. The first aspect is the support of the project by the Korean government. The second aspect is agreements with 25 brokers, 6 hospitals, 3 universities and several banks. This partnership means that all of these organizations will have their own blockchains that can interact with each other, thus creating their own little blockchain world.
What is ICON for?
Let's not look at ICON as a cryptocurrency. Let's look at them as a startup that dreams of changing the world. There are many such startups and some of them (for example ARK) even work in a similar direction.
ICON wants to create a connection between disparate blockchains. And this idea sounds quite logical. There is no need for a giant blockchain that stores everything and everyone. Monsters like the Bitcoin blockchain are slow, and their architecture is not suitable for some industries.
According to ICON, there should be separate blockchains in the world for each industry that will meet the needs of the industry. This way, insurance companies will have their own blockchain, and medical institutions will have their own (it is not necessary to store people’s medical records along with financial information).
ICON will allow different blockchains to communicate with each other and exchange data when needed. The ICON platform can be used by financial institutions, insurance companies, medical institutions and educational systems.
using smart contracts in ICON to connect blockchains
Who is leading the project?
ICON has been in development for 2 years now. The founder of the startup is a financial company from South Korea, Dayli Financial Group, worth $4 billion. The same company owns the Coinone exchange.
By the beginning of 2020, the project is being led by 39 employees of various specializations. The team includes artificial intelligence developers, blockchain and marketing specialists.
The supervisory board includes businessman Don Tapscott and Jason Best.
How ICON Nexus works
How will all this work?
The ecosystem uniting disparate blockchains will be called “ICON Republic”. In this system, ICON will play a connecting/guiding role (Nexus) between community representatives and their blockchains. Each community can use its own blockchain with a unique architecture and its own consensus algorithm. Participants in the network can create their own decentralized applications (DAPP) and connect them with each other through the ICON network.
Community Representatives (C-Reps) play an important role. They are chosen by the community to implement such a function as transaction verification, for which they receive compensation in the internal currency of the network - ICX tokens.
By the way, the network itself uses the Loop Fault Tolerance (LFT) consensus mechanism, but each community can use its own mechanism and this will not interfere with the functioning of ICON Republic.
Where to buy ICX tokens?
You can find out more about the development of ICON on the official website. Among other things, the website publishes information about exchanges that have released the ICX token for circulation. The largest exchange with ICX tokens is Binance.
ICX is a standard ERC20 token, the creation of which we have already written about. These tokens can be stored in any Ethereum compatible wallet. For example: Meta Mask, Ledger Nano S, My Ether Wallet.
Wallet for ICX - ICONex
ICONex is an ICON wallet that supports ICX and other cryptocurrencies based on it. It boasts of faster transactions, secure payments and a liquid exchanger with user-friendly UX and UI.
ICONex allows you to create and manage wallets if they are on the ICON network (for ICX and ETH).
There is an extension for Chrome and a wallet for smartphones.
Where can I buy
You can buy ICON on the following exchanges:
| Name | Couples |
| ABCC | BTC, ETH, USDT |
| BTCAlpha | BTC |
| Binance | BTC, ETH, USDT, BNB, BUSD |
| BitTrex | BTC |
| CoinEx | BTC, USDT, BCH |
| CoinTiger | BTC |
| EXX | BTC |
| HitBTC | BTC, ETH, USDT |
| HuobiPro | BTC, ETH |
| Kraken | BTC, ETH, USD, EUR |
| OKEX | BTC, ETH, USDT |
| ZB | BTC, USDT, QC |
| Zecoex | BTC, USDT |
| coinall | BTC |
| coss | BTC, ETH, USDT, USD |
| huobikorea | BTC, ETH |
| Ethermium | ETH |
| FCoin | ETH, USDT |
| Gateio | ETH, USDT |
| IDEX | ETH |
| LAToken | ETH |
| bkex | ETH, USDT |
| biki | USDT |
| probit | USDT, KRW |
| Bithumb | KRW |
| Upbit | KRW |
| binanceusa | USD |
