ICON ICX – The cryptocurrency industry is booming with competition from various parts of the world. There are multiple blockchains that have been created to serve different purposes, solve existing problems and bring efficiency to certain systems among other things. However, some blockchains have also been developed to compete directly with existing technologies. ICON, on the other hand, was created to connect all the blockchains in the world to achieve something referred to as hyperconnectivity.
What is ICX Token?
ICX token is a blockchain project that was named ICON ICX and its sole purpose is to become the biggest blockchain network in the world by connecting all the other blockchains together. ICX token price has been growing steadily since the launch last year. Its market capitalization is approaching one billion, although it still stands below $900,000,000. It is currently trading at $2.27 in the second week of April; however, it has a long way to go to reach its all-time high above $12.00. The crypto was listed on some of the major exchanges including Bithumb, although the question that still lingers is, will the project deliver as they have promised? Will ICON price survive the current selloff and the bearish wave sweeping across the entire cryptocurrency market?
The Importance of ICX Token
Unlike most of the other blockchains in the cryptocurrency industry at the moment, ICON serves to provide a single blockchain protocol that can achieve utmost scalability while being ready for adoption across the world. Interestingly, the blockchain protocol is already in use in various industries. The team behind the project has committed to developing the largest decentralized network in the entire world. The project will connect the cryptocurrencies in their entirety to the real world. Some of the industries to enjoy this connectivity are health institutions, schools and universities, insurance firms as well as the financial sector.
ICON (ICX) Blockchain
ICX utilizes a blockchain that has been dubbed the loopchain. Consequently, the loopchain gives ICON the ability to achieve its purpose by creating an ecosystem for multiple blockchains. For to connectivity exist, there must be communication coupled with transition and transactions inside the ecosystem among the blockchains. The South Korea-based ICON has said that there are a number of universities that have adopted the loopchain. Further, it emphasizes that its platform has viability in the business world and that companies from various industries have connected to the existing loopchain protocol. The companies with access to large market goods are now able to divide the market into multiple sections that are interconnected and easily accessible.
The Viability of ICON (ICX) in the Current Global Market
The ICON project is tailored towards decentralization while at the same time, ensuring that asset exchange remains to be digital and efficient. This particular area of the cryptocurrency industry still has very low adaptability. Which is making it difficult for ICON to penetrate the market although; the token’s popularity continues to rise. ICON (ICX) project has promised so much to the investor making it sound more like a hype. It has also been missing from the media for too long making people think that the developers have run out ideas. However, its community is quite strong but the experts say that it can get even better. The users, on the other hand, would prefer that ICON releases the 2018 roadmap in time. Lastly, it is essential to note that ICON ICX is a tradable token that is volatile and could very well, may have overpromised. Anyway, no one knows the real deal at the moment. We will, however, continue to monitor its developments.