What is Icon Coin? Learn some basics about ICX

What is icon coin? This is a project to build a decentralized network that wants to connect the world. In today’s article, let’s learn some basic information about this project!

what is icon coin

1 – What is Icon Coin?

ICON (ICX) is a cryptocurrency of the ICON project. This is a blockchain platform created with the aim of connecting the world with a decentralized network.

This platform allows other blockchains to connect with each other through Smart contracts. With the goal of allowing organizations such as private e-commerce, financial companies, universities, hospitals, or other organizations to transact and co-exist in ICON’s network.

The ICON project was founded by Dayli Financial Group with a value of 4 billion USD of Korea. The first token sale of ICON September 20, 2017.

2 – What is ICX?

ICX stands for ICON coin from Korea with the purpose of developing identity applications on blockchain platform, decentralized exchange.

In addition, ICX also has commercial purposes, allowing ICX users to shop, identify, pay, etc.

3 – Salient features of the coin icon

Blockchain ID: a feature used for verification in all communities through smart contracts.

Payment transactions: the ICON wallet in the ecosystem can be used to make actual payments in the life of organizations in the ICON network such as banks, universities, insurance, securities, etc.

Scalability: ICON is the bridge connecting the crypto world with the real world. All traditional blockchain platforms like Bitcoin, Ethereum can be fully compatible with ICON.

4 – Development team

The ICON project was founded by Dayli Financial Group – one of the Korean Fintech companies valued at 4 billion USD, and the owner of Coinone, the largest cryptocurrency exchange in Korea.

In addition, the ICON team includes the following individuals/organizations:

ICON Foundation: A Swiss non-profit organization that plays a role in financial support and community development. The ICON Foundation is also in charge of the project ICO sale in September 2017.

The Loop: Blockchain platform research and development company (Korea), responsible for smart contract management, creation and research Icon Nexus.

Dayli Intelligence: Simplify and increase network efficiency.

Research members: More than 40 people, working in different departments.

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