Project Update: Icon (ICX) the Decentralized Network of Blockchain Communities

by birtanpublished on August 24, 2020

Head of district trypticon's and welcome to this project update for icon today's 27th of December 2018 and icon it's a decentralized network of block G communities as always thank you very much for watching and I hope this video will be useful and we will begin with

The basics trying to explain what icon is and what they're trying to do so the goal of icon is to allow entities and individuals from multiple different sectors the likes of banks insurance hospitals and universities to exchange

Value and information on one single path from another ecosystem will be called a cult icon Republic and it will be hosting all the individual communities which will be connected with each other using it now it has some similarities to

It cerium but it will have inbuilt token swap system which Atheneum doesn't have no icon they run an ICO which finished in September 2017 there is over 4.4 T 2.5 million u.s. dollars they're based in South Korea and do concentrate on

That market and Asian market in general now in terms of the tokens and the usage the platform will basically be a giant web of different communities that will be talking and exchanging value with each other through transactions and

Running decentralized applications now in the end the ultimate goal is to create for everyone the benefit of custom smart contract solutions while also preserving the advantages come with using the current currency now I see X

Will be that current currency or token as you can call it and it's going to be used to support the ecosystem for example as a transfer of value between the interconnected block chains now on top of that all of the transactions

Feeds on the network will also be paid in the IC X tokens with the nodes being able to withdraw their ICS gain from the fee so if you wanna run and I could note you will be rewarded for doing so now some of the recent news for the project

They did have the strategic partnerships with the DA Japanese boxing consulting firm called lair X now this aims to vitalize the icon developer community in Japan so that's all another market that they're trying

To target as well as ensure the integrity of the icon network through the code audit Alliance that was the newest news now they also have announced tribe accelerator which is a collaborative program among icon

Foundation and tribe ventures as well as PwC Singapore venture hub aiming to find and nurture later stage blockchain companies across Asia now there was announced the icon development network which will allow the

Developers to easily run a private instance of the icon blocking network through the Amazon Web Services which is pretty famously on demand cloud computing platform as well so pretty good

Recent news they do have a lot of activity and happening it seems like now until the roadmap they doesn't really give timelines of the roadmap but it is very detailed since it's showing milestones that basically tell what

They're working on not important upcoming milestones are first of all enabling the use of Dubbs from sidechains scalability solution based on parallel processing the centralized identification service dispenses key

Management service decks our GT sensors exchange smart contracts for trading between different tokens also enabling secret vault environment in the public blockchain providing platform for security token offering and also

Providing reliable stable coin solution running on the icon platform so as we can see there is a lot of different activity planned in the future which could obviously influence the price in a positive manner now talking about the

Price first of all are you gonna tell we're gonna explain what the token is available and most of the volume is obviously a balance which is the biggest exchange currently in the world but you do have some other alternatives that

Konya or BTC dragon eggs it's also listed on bid some a bit every Phoenix coin tiger and few more so it is listed on several major exchanges now with the overall volume of around 5.5 million u.s. dollars in 24 hours

The current price other things 7th of December is around 23 cents with icx being Rankin for the second place interview the market cap which is around 108 million by the time of this video now as for the tokens and the

Circulation four hundred and seventy three million are currently in circulation I love eight hundred so there will be new tokens introduced something to consider because that's obviously gonna

Decrease the price because the more tokens in circulation the higher the market cup meaning lower demand on the existing token talking about the price history icon has been very disappointing this year the price

Significantly decreasing when compared to Fiat and Bitcoin as well now a lot of alcohols did very badly but Icahn actually did worse than most of them as visible here not all-time high is about twelve point sixty four US

Dollars which would indicate big price decrease of around ninety eight percent which is actually worse than majority alcohols on the market as was well here it's really not been that great this year for icon holders however we do need

To distinguish the price from the actual project and the project is actually doing very well so that I could mine that is working and it's being regularly updated which has proven that the project is aiming to actually deliver

The promises they made during the I co-own they do have one hundred and thirty six team members according to the website which is actually a very significant number for a blockchain project they're members of the

Blockchain interoperability Alliance together with ion and Van chain as well with the shared goal of promoting interconnectivity between the isolated boxing networks both projects are quite promising as well which you know because

They're working together could mean even more strength in numbers in the future now the project is significantly this year and the current valuation is actually very reasonable when we look at the potential of this project especially

If we're talking long term now there is obviously a lot of competition of different blockchain networks but it does seem that icon it's actually very interesting and promising option I do hold all over the Vikon not not not

Crazy amount but I do think it's one of the project that could potentially generate a nice returns if we're looking at something in long term because they do have the team they do have the progress that and you have the plan as

Well to deliver what they have promised during the ICO so a pretty good program project not a financial advice oversee but I do like it noting the fact that they're connected with ion and branching is a very promising thing as well as

Always thank you very much for watching hope it was useful subscribe for more and do love you Cheers and bye

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