Youtube
Twitter
Linkedin
Slack
CRYPTOMARKET
  • Homepage
  • >
  • Top News
  • >
  • The ICON Inter-Chain Connects Every Blockchain in Existence

The ICON Inter-Chain Connects Every Blockchain in Existence

  • by JH Kim
  • August 19, 2017
  • 0

Hyperconnect the World

ICON is an interconnecting blockchain network. ICON can connect independent blockchains without the use of additional third-party intermediaries. Various blockchains can communicate with each other through the ICON platform. ICON aims to become the largest blockchain network in the world.

ICON tokens are named ICX. ICX is used as an intermediary currency when transacting amongst the various blockchain networks. As an inter-chain blockchain, the ICON platform will be able to host other ICOs on the ICON platform.

ICON Network Consortium

As an interconnecting blockchain, one of the key aspects of ICON is partnerships with existing financial institutions and blockchains. ICON organised a consortium with 25 of the largest financial security firms in Korea.

One of the key partnerships that ICON has established is with Woori Bank. Woori bank is one of the largest banks in Korea. ICON and Woori Bank will collaborate in order to create a blockchain based Woori Bank cryptocurrency.

ICON Demo Day

On August 3rd, 2017, the ICON team launched their Demo Day. The main purpose of the Demo Day was to open-source the ICON code to developers. In order to facilitate a deeper awareness of the ICON blockchain, ICON provided a free coding session to all participants at the event.

One key property in blockchain is transparency. Anyone can access the blockchain explorer and check on everyone’s transactions through a shared ledger. Which is why ICON is fond of having a transparent development process as well. For transparent progression, you can check the ICON source-code on the Github repository (https://github.com/theloopkr/loopchain).

“As an interconnecting blockchain network, I believe that the ICON blockchain has the potential to become the largest blockchain in existence. Anyone can build decentralised applications (DApps) on the ICON platform similar to the Ethereum platform.”

ICON Team Member

ICO LAUNCH

The ICON ICO will be the largest ICO in Korea. Overall, ICON aims to raise $44M over the span of 2 weeks. The ICO starts on October 20th, 2017 and ends on November 3rd, 2017. ICON will distribute 400,230,000 ICX which can only be exchanged with Ethereum (ETH). 1 ETH has a conversion rate of 2,500 ICX (1 ETH = 2,500 ICX).

 

Anyone can create a new blockchain project and join the ICON. ICON is kick starting a new era of hyper-connectivity. You can learn more about ICON on their website (https://icon.foundation).

  • facebook
  • googleplus
  • twitter
  • linkedin
  • linkedin
JH Kim majored in computer science at POSTECH University, has patents in security protocols, and has over 20 years of experience in the information security sector.