What is ICON Coin (ICX)? A world model with free communities

icon coin

In this article we have prepared for you, you will find answers to your questions such as “What is ICON Coin?”, “Is there a future of ICON Coin?”, “Is ICON rising?”, “Is it safe and sensible to invest in ICON (ICX)?”.

ICON relies upon a world model that is without any center point and free communities create. ICON is simply a web/platform where communities with different methods of management can connect to each other and share information with each other. It is very important for ICON to enable users to be able to communicate with each other. That is the major part of ICON. By designing DAPP, which has an independent style of management, ICON allows every person who wants to participate in it, to make process on it. It brings a blockchain substructure to our daily life.

What is ICON Coin
What is ICON Coin

The group that has designed the system of ICON, has been designing real-world applications for real communities. In addition to the information which we have mentioned above, ICON is thinking of being benefited from the algorithm of Davinci, which is considered to be reliable and an artificial intelligence solution and which some of the strongest finance foundations in the world have been using.

How does ICON Coin (ICX) work?

 

ICON connects a block-chain community ecosystem to the ICON republic by using a cyclic platform. As the name implies, the ICON Republic acts as the chairman of the Federation of independent blockchain units. For this reason, every ICON community has portrayed the ICON Republic represented by a country, as a united nation.

Communities are linked to the Republic through community representatives (C-Reps) connected to Nexus, which is a loop-chain based blockchain, which is supporting the ICON Republic. C-Reps works as Portals to interact with Nexus and other communities through the ICON Republic. Blockchainers using ICON can exchange funds by using the platform’s decentralized exchange (DEX).

Communities in ICON

ICON Coin review
ICON Coin review

If needed to explain simply, ICON  (ICX) Community is an individual blockchain or protocol with its own management system. Community Nodes (C-Nodes) forms the infrastructure of each community. C-Nodes is responsible for the blockchain management and maintenance of their own communities. Each community operates by its own rules and its own consensus algorithm. What it means exactly is that ICON (ICX) has no control over how its community members’ programs operate outside the ICON Republic.

Citizen Nodes are gateways for approximately a person to connect to the ICON network. Community members can use these nodes to create DAPPs built on the ICON infrastructure, but it has no administrative power across the local blockchain or ICON.

Does ICON Coin give an undertaking of being valuable in the future?

It takes place in the list of cryptocurrencies which are prepared by the investors and which will make a good profit in the short term. Another thing to consider here is the vision of the company. Because of ICON’s vision, many investors are investing in ICON Coin by finding it to be safe.

As a negative side, it is said that the one clear “flaw” perse is the lack of communication from the team of ICON (ICX) to the community. The team is just trying to give a poor answer to members and members who can not find any solution to their problem are not pleased with this situation.

However, it doesn’t mean that this problem will last forever. It is most likely that the problem will be solved in a short time.

ICX BTC chart of Binance
ICX BTC chart of Binance

Digital currencies, which are at the forefront of the most talked topics in the world, have given great gains to investors. But the fact that virtual money like Bitcoin, Ethereum, and Litecoin is high in price makes investors who are not rich, invest in other Altcoins.

Our advice for those who want to invest in Altcoin is that you need to investigate the goals, partnerships, price expectations in the short and long term of digital money, which you would like to invest in, and finally what kind of substructure it uses. If you do not give your money to the coins that go up suddenly and you do it on the way which we have just talked about, you can get big gains.

Where is ICON used?

ICON (ICX) has potential uses for e-commerce/trade, banks, hospitals, securities trading, insurance and even universities.

The ICON network has already contained a community of all these institutions. The network includes decentralized applications, including block-chain-based identity and payment applications. ICON’s block-chain identification system can be provided by financial security organizations, which can be used for verification transactions in other communities.

Whom has ICON been designed by?

ICON was set up by the leaders of KJ Eee, JH Kim, Jay Kim, Hoon Lee and Min Kim. The team that is based on Korea, has a long history in computer science and engineering. There are also dozens of different team members who support these founders.

ICON has partnered with The Loop, a South Korean blockchain solution company, and DAVINCI, a leading AI company, in order to develop the ICON project.

The conclusion of the article

BTC ICX chart of Binance
BTC ICX chart of Binance

If ICON functions in the real world as it is on paper, this network could be a skeleton key that opens interoperability with the blockchain and connects these services to the existing industry. Technical examination of the project states how ICON’s health, education, business, insurance, capital markets, etc. fit into the established industry.

ICON’s DEX will offer users a potentially safer, more comprehensive alternative as an alternative to traditional shopping areas. When the team presents ICON’s core wallet to the market, investors and entrepreneurs will be able to trade directly without having to shop through ICON software, web or mobile wallets.

If everything goes as planned, ICON could be an integral part of adopting cryptographic currencies in the real world and the official integration of blockchain into old businesses, organizations and markets.

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About the author

I am graduated from the faculty of communication. I have worked for major companies in the communication field, and acquire more than 12+ years of experience. I like to read empowering books, traveling and researching useful stuff on the internet. For a few years now, I have cultivated and developed a passion in the cryptocurrency world. I have decided to dedicate my time to create some posts on my blog about cryptocurrencies in general. Cryptocurrency World is growing fastly and will have longevity future however it has just born. I intend to improve myself on blockchain technology and share my knowledge.

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