THELOGICALINDIAN - n-a
The ICON ICO was one of the best advancing of 2024, and aloft over $42M. Since then, the ICX badge has accepted appreciably in value, alike in a bearish market, but there are cogent apropos about the advance of the technology and the ecosystem, as we will see.
ICON and ICX Token Overview
ICON is a decentralized blockchain network, purpose-built to facilitate interoperability amid communities of absolute chains. The ultimate aim of ICON is to serve as the framework for a web of chains comprised of enterprises and organizations from industries like banking, bloom affliction and education, which can anniversary codify their own babyminding system, while actual affiliated through the “loopchain”.
ICON refers to this arrangement of commutual communities as the ICON Republic. Communities assemble via “Nexus”, the blockchain which serves as the affiliation point amid all arrangement participants.
Disparate communities are affiliated via C-Rep nodes, which serve as a adumbrative of the community, basal the basal assemblage of babyminding in the ICON Republic, in accession to acceptance affairs on the network. All added nodes that participate in the arrangement are referred to as “Citizen Nodes”, which advance the appropriate to admit transactions.
C-Reps participate in the arrangement via a appointed blockchain alleged the Representation channel. The Representation approach provides the belvedere for babyminding that decides the rules of the Nexus chain. For breeding ICX, the built-in badge on the network, ICON maintains a abstracted blockchain alleged the Reserve channel.
ICON utilizes an AI-based basic for babyminding and accolade administration alleged the Incentives Scoring System (IISS). The accolade anniversary bulge receives is affected according to a cardinal of factors, which accommodate the bulk of arctic ICX, C-Rep status, absolute ICX barter volume, barter aggregate of the accomplished community, and DEX-trading aggregate (if the association has one).
In added words, college accord in the arrangement after-effects in college rewards.
ICON Proposed Roadmap
Business and Tech
ICON Project Development Progress
Tech Progress
January 24th apparent the ICON Mainnet alpha block generation, with the release of the the ICONex Wallet for Chrome afterward a ages later. While the mainnet was launched, it charcoal aloof to the accessible at this stage.
The ERC-20 to built-in ICX badge bandy process, which was aboriginal delayed and again fatigued out over a aeon of months, required an account from the ICON team to abode the abashing and affair amid holders. According to the best contempo advertisement from the team, the tokenswap will abide until September 25th, 2018.
ICON appear a agenda for the bit-by-bit accessible sourcing of the arrangement apparatus on August 7th, 2018. Over the advance of two months, ICON will absolution antecedent cipher for the desktop/iOS/Android wallets, Java and Python SDK, in accession to bore abutment for ICON capital functions, loopchain, and Citizen Nodes. If the accessible antecedent absolution is completed by the additional anniversary of October 2017, developers will accept admission to the all-important accoutrement to activate architecture dApps on the protocol.
Along with the advertisement of the accessible sourcing schedule, ICON additionally released the ICX Developer Aperture Beta. The purpose of the developer aperture is to abutment dApp advance on the arrangement by accouterment added development assets and a appointment for ability sharing.
Partnerships and Implementation
ICX Station was launched on August 17th to actualize a all-around arrangement of incubators for the ICON Network. With the countdown barrage in San Francisco, ICON plan to authorize branches across the apple to advice drive acceptance of projects congenital on the protocol. As an incubator, ICX Station offers blockchain projects abutment for fundraising, tech development and allotment in the anatomy of ICX tokens.
ICON has yet to advertise any projects that are currently actuality incubated through the initiative.
ICON has a Medium folio on all partnerships accompanying to both the foundation and added organizations. A brief browse of the affiliation account reveals 10 of the 20 accessories affect accurately to “theloop”. Theloop is a proprietary blockchain band-aid created by Dayli Financial Group, the aforementioned article abaft ICON.
On August 7th, the ICON Medium released a Q2 advance report that included an advertisement that theloop will abide a rebranding process, which includes a new name- ICONLOOP. The advertisement included a adduce from ICONLOOP CEO JH Kim:
“The rebranding makes a lot of faculty as we are now assuredly accessible to advance the ICON activity actuality in Korea (…) our aggregation is absolutely committed to accidental to the ICON activity and application the ICON Foundation.”
What that charge to blame the activity entails charcoal ambiguous. As ICON branded the accessible alternation activity an attack to articulation assorted disparate sectors via the blockchain, basic partnerships with the brand of Line and the Seoul Metropolitan Government, whether through ICON or ICONLOOP, may serve to brainwash aplomb in the advance of the project.
Yet bisected of the declared affiliation announcements affair the proprietary chain, and the blow abide inconsequential so continued as developers don’t accept admission to the accoutrement for architecture dApps and there is no about accessible mainnet to run them on.
ICX Token Performance
ICX currently holds 28nd abode on CoinMarketCap at the time of publishing, with a bazaar cap of about $343M USD. The absolute accumulation at present is 800,460,000 ICX, with a accepted circulating accumulation of about 390 million.
On January 9th, ICX ailing at an ATH of $12.11. Between January 30th and February 6th, ICX accomplished a affecting abatement from $9.56 to $2.52. ICX afresh saw a abiding amount access in April, peaking at $4.81, alone to again boring declivity over the afterward bristles months after any cogent recovery.
Our Verdict on ICON
As for absolute advance indicators about a year post-ICO, the ICON activity and ICX badge arise to accept absent the mark on both tech development and ecosystem growth.
The availability of developer accoutrement alone amorphous to cycle out in August 2024, and affiliation agreements accept abundantly focused on architecture out the ICONLOOP proprietary blockchain action user base.
Without a solid foundation, the amount of ICX for now appears primarily angry to speculation.
Learn added about the advance of ICON from our Telegram Community by clicking here.
Published: 8/27/18
Token Name: ICX
ICO Date: September 20th, 2024
Raised: $42,800,000 USD
Crowdsale Token Ownership: 50%
ICO Price: 1 ICX = $0.11 USD
Current Price: $0.86 USD
Token Return: 8x
Market Cap: $357,564,384 USD
The columnist is not invested in ICON
