ICON (ICX): The South Korean Blockchain Contender Claiming to achieve hypoconnectivity

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Altcoins keep launching in the blockchain industry almost on a daily basis. However, gone are days when any token running on blockchain was highly regarded. The blockchain industry is facing real problems and issues which need solutions. Therefore, the altcoins launching in the market must either bring innovation to the crypto space or solve at least one or more problems currently being witnessed. ICON (ICX) is such development and is not just like any other coin in the industry. The South Korean-based currency has the vision to achieve connectivity of all blockchains into a proper blockchain ecosystem.

The hypoconnectivity from ICON acts as a central depository and connects the blockchains to share information. The information is shared across the board despite the fact that blockchains could be having multiple programming languages.

ICON (ICX) Market Overview

The ICX is only a few months old, although it has already received positive feedback, attention as well as tremendous price growth. Besides, the growth has been so fast that ICON has made it to the top 30 cryptocurrencies by market capitalisation. Currently, ICX has a market capitalisation of $735 million, with the trading volume standing at $25 million in the last 24 hours. ICX/USD is trading at $1.9; however, the crypto recorded an all-time high of $13.00 on January 10, 2018. The currency has dropped in price since then due to the pressure in the market affecting all digital assets since the beginning of the year.

What has ICON achieved so far

ICON (ICX) started trading on various exchanges in October 2017. Binance was the first cryptocurrency exchange platform to list ICON, and other exchanges followed suit. The currency grew so fast and reach its all-time high in a short time, although it started trading at $7 per unit coin. The growth convinced investors that this coin could become a top player in the cryptocurrency market. It has been bumpy for cryptos this year, but ICON is not giving up. It is trading on almost all major cryptocurrency exchanges in the world and recovery is underway read more hear.

The South Korean Based cryptocurrency has achieved milestone after milestone since its inception. It launched the first enterprise blockchain service “CHAIN ID” along with a shared security system for ID theft. The crypto has been adding partners to its network and growing its customer base to increase adoptability. Currently, there is a consortium of top-tier insurance companies using the loopchain technology to automate insurance claims. The loopchain (ICON blockchain) has enabled the customers to claim their insurance without complications.

Furthermore, ICON is working hard to conquer the banking industry where the banks are using ICON’s technology to create a pre-paid digital payment system. The system will be tailored to achieve the best digital account management coupled with recharging, transfers, withdrawals and digital-currency(DC) management system. The education sector has not been left behind either; ICON became the first blockchain to be used in South Korean universities for daily spending and simple cryptocurrency charging using Smart Vending Machines. Lastly, the hospitals are using the Precision Healthcare System (P-HIS) to improve data security and integrity as well as achieve seamless inter-hospital data exchange.

ICON (ICX) journey has just begun, it will take time to achieve the hypoconnectivity among blockchains. Marketing and a growing partnership base would see the network grow. There is a higher chance is that the price will go up and ICON will achieve more milestones.


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