ICON: NOT Just Another Cryptocurrency!

ICON: NOT Just Another Cryptocurrency!


While many fintech companies are eager to join the Blockchain bandwagon, most lack a substantial algorithm or formula that can be tweaked to make it a successful decentralized business. Being directionless and hoping to cash in on trends is only going to take any company so far.

It is quite exemplary to see blockchain developers predisposed to global decentralized networks in the future. However, of the spectrum are pathfinders and  lumineers like ICON. Focused on reaching an end goal of “Hyper Connecting the World”. Creating one of the world’s biggest decentralized network is no mean feat, but this Korean company has its heart set on it. However, it is going to take all the power it has.

It has already gathered multiple communities that are dedicated to ICON. The list comprises of reputable institutions such as Securities, Banks, Insurances, Universities, and Hospitals amongst others.

ICON: Really Iconic

ICON allows all the citizens of the world to join in the ICON Network by simply creating a new DAPP (Decentralized Application) with independent governance. This allows for them to have a sense of community outside of their countries official border. ICON’s decentralized applications (DAPPs) along with Blockchain ID and Payment & Exchange, can do good for current as well as future communities.

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What Is The Vision?

ICON provides commendable uses cases for the technology such as the BlockChain ID project completely depends upon smart contracts. We don’t know what future holds. But the technological advancement, it could become a universal method of authenticating and verifying one’s identity on the internet. Moreover, the team is working a payment and exchange solution, which might allure banks and financial service providers.

The campaign like ICON has a  lot of potential but the question here, will it benefit users or will they be accepting the changes with open arms.ICON wants to bring blockchain into people’s daily lives. Before all this could come into being, building real-world applications are necessary to build interest of people and make ICON flourish.

ICON boasts decentralized applications, real-time transactions, a decentralized exchange, interchain compatibility and more. As ICON provides support for artificial intelligence, it will make it different from all. Moreover, ICON also uses a decentralized consensus model.

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ICON vision makes us expect more from the project. The team aims to establish partnerships with other fellow cryptocurrencies. Another one of the services is set to be launched in the third quarter of this year. For now, it feels like a dream, which needs a lot of hard work and patience to come true as nothing comes easy in this world.

Next Read: Blockchain: Currency Exchange and Remittance made Easy

What Do You Think?

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