ICON

• ICON (ICX) is a decentralized blockchain network for interoperable transactions and applications across various blockchain systems.

• ICX is the native cryptocurrency of the ICON platform.

• ICON aims to create an ecosystem where independent blockchains can interact and transact with one another.

Tokenomics

• The total supply of ICX tokens is 993.9M.

• ICX serves multiple purposes within the ICON ecosystem, including transfer of value, staking and governance, and payment for transaction fees.

• The initial allocation of ICX tokens was 50% for the token sale, 14% for the Foundation, and the rest for community groups and strategic partners.

Market Data

As of today #{today’s date}, the price of ICON is ₹13.97 INR or 0.1596 USD, with a 24-hour trading volume of 6600816.16 USD. The market capitalization for ICON is 165576576.6USD. The circulating supply is 1032806338.32 ICON, with the total supply also being 1045309181.34 ICON.

Token Pros and Cons

Pros:

• Interoperability among various blockchain networks.

• Staking rewards for users.

• Real-world applications, particularly in South Korea.

• Decentralized Applications (DApps) development.

• Governance participation for ICX holders.

• Technical development, including ICON 2.0.

Cons:

• Market competition from other interoperability and blockchain projects.

• Potential opposition from traditional centralized cryptocurrency exchanges.

• Low Adoption rate.

Why Should You Invest in the Coin

• Investing in ICON may be considered by those who believe in the future of interconnected blockchain ecosystems.

• ICON’s partnerships and active community development could also be considered.

USP of the coin

• ICON’s unique selling proposition is its focus on interoperability and the ability to connect different blockchains.

The problem the coin is solving

• ICON aims to solve the problem of blockchain isolation by creating a decentralized network that allows for interoperable transactions and applications across various blockchain platforms.

Founder and team background

• ICON was founded by Min Kim, who has a business and venture capital background.

• The ICON Foundation and ICONLOOP oversee the development of ICON.

ICO Price

• The ICON ICO took place in September 2017, with an exchange rate of 2,500 ICX for 1 ETH, raising approximately $43 million.

Risks Associated with Investing in the Coin

• Investing in ICON involves risks such as market volatility, regulatory changes, competition from other projects, and technological challenges that could affect the project’s success and token value.

The ICON whitepaper outlines a vision for a decentralized network that enables different blockchains to interact with one another. The ICON network comprises various communities, each with its blockchain, connected to a central platform called the ICON Republic. The ICON Republic functions as the governing head for the federation of blockchains, with the ICX token serving as the connecting currency.

The ICON project introduces several key components:

• ICON Nexus

• : A multi-channel blockchain that connects all the communities.

• ICON Republic

• : The decision-making body that governs the various communities, with the ICX token as its currency.

• Community Nodes (C-Nodes)

• : They maintain individual blockchains and participate in the ICON Republic through representatives.

• Community Representatives (C-Reps)

• : They are elected by their respective communities to represent them in the ICON Republic.

• Citizen Nodes

• : Regular network participants who can create transactions and use dApps on the ICON network.

The ICON network employs a loop chain-based blockchain that allows communities to interact without intermediaries. The loop chain technology enables high-speed transactions and provides for the customization of blockchains to suit community needs.

The governance of the ICON network is based on a Delegated Proof of Contribution (DPoC) system, which incentivizes participation by rewarding contributions to the network. The ICON Incentives Scoring System (IISS) measures and rewards contributions, such as running a node or participating in the ICON ecosystem.

The ICX token is used for transaction fees, governance, and other services within the ICON ecosystem. The whitepaper details the token’s distribution, with a portion allocated to the ICON Foundation, community groups, and strategic partners.

ICON’s whitepaper also discusses the ICON DEX, a decentralized exchange that facilitates currency exchange from different blockchains. This exchange is a critical component of the ICON network, as it supports the network’s vision of interoperability.