ICON (ICX) is one project that has the hallmarks of greatness. It launched late last year, and it’s already in the top 20 cryptos. So what makes ICON tick, in an increasingly crowded crypto market? Well, there are a multitude of factors pushing this crypto, and all of them point to a coin that is fundamentally strong.
The first one is the loop chain technology; named after Loop, the platform behind ICON. Loop technology is all about connecting multiple blockchains, by allowing them to seamlessly communicate with each other. This aspect of ICON has already seen this crypto get adopted by different corporations in South Korea.
For instance, hospitals are using it to access patient data from other hospitals, as well as cross-check patient data with insurance companies. An increased adoption of loop chain technology on a wider scale in South Korea will significantly increase the intrinsic value of this crypto, and push it further up the crypto rankings ladder. Many investors are anticipating this widespread adoption and are investing early, before the big moves happen.
Another factor driving up the value of ICON (ICX) the Davinci labs artificial intelligence technology. This tech is meant to allow for continuous assessment of risk in the banking sector. Unlike traditional blockchains that are slow to respond to changes in the external markets, Davinci labs makes use of artificial intelligence to actively monitor the market, and offer models on how to respond. A number of banks in South Korea are already using this technology. As its usage gets more widespread, so will the intrinsic value of ICON.
ICON (ICX) also has a number of partnerships that are guaranteed to put it at the helm of interoperable blockchains. For instance, through the blockchain interoperability alliance, ICON is coming together with two high-value platforms, that is Wanchain and Aion.
Wanchain is a blockchain project that is blazing the way in recreating the global financial system on the blockchain. On its part, Aion is focused on eliminating the scalability issues that have plagued blockchain technology for the last few years. Through this alliance, these three cryptos could easily end up taking over not just finance, but pretty much every other sector that can use blockchain technology, and with that their values will skyrocket. This has partly excited the market up to this point.
This platform has also entered into partnerships with several South Korean multinationals including Samsung, and Hyundai. It is also working closely with the leading South Korean universities. That’s an indication that ICON (ICX) is going mainstream. Once the levels of adoption grow outside of South Korea, this project will be headed to the moon, no doubt about that. People have invested in this crypto, in anticipation that such high levels of adoption will push it further up going into the future.
There is also the fact that it makes use of a delegated prove of stake algorithm, where rewards and given monthly to anyone staking coins. This incentivizes large investors to put their money into ICON. Over time, this has led to an increase in trading volumes, as investors anticipate higher volumes to push up the price of this coin. Many others are investing in ICON (ICX) as a source of a monthly passive income.