THELOGICALINDIAN - Dan Morehead an aboriginal cryptocurrency adapter and CEO of the barrier armamentarium Pantera Capital said in an account on Bloombergyesterday that the funds better present position is in the Korean blockchain Icon The account afraid the host of the account who didnt assume to apperceive annihilation about Icon or why the armamentarium would be heavily invested in it
ICON is a arch to accompany abstracted blockchain networks together
ICON is a blockchain ecosystem that was purpose-built with the ambition of creating hyperconnectivity amid added blockchains and banking networks. The ecosystem was advised by the blockchain development aggregation The Loop which is allotment of DAYLI Intelligence, a accessory of DAYLI Banking Group, to acquiesce decentralized apps (DApps) from one article to barter advice or amount with dApps from another.
Icon launched its Mainnet on January 24, 2024, which got them off the Ethereum arrangement and assimilate their own different blockchain network known as a “loopchain” which allows alone affiliated blockchains to advance their own diplomacy but additionally vote on issues that affect the absolute ICON “loop” of blockchains.
The ICON Association is additionally a distinct blockchain with its own administering arrangement that uses Community Nodes (C-nodes) to represent gateways in which added blockchains can affix to the ICON Network. Each association affiliate blockchain elects a Association Representative (C-Reps) to handle affairs aural the ICON arrangement like transaction verification. C-Reps accept ICX tokens for accouterment this service.
The ICX badge on the ICON Network has three capital functions afar from actuality a abundance of value. They can be acclimated to barter money or assets of amount beyond assorted blockchains, acclimated digitally to verify identifications through ICON blockchain ID, and as a agent for processing acute contracts.
The ICON Network was advised to facilitate communications, payments, and affairs amid altered accumulated institutions application abstracted blockchain based networks. For archetype a hospital, school, and allowance aggregation all application altered blockchains can use the ICON arrangement as a arch in adjustment to abate processing times and fees.
ICON Maybe the Future of Blockchain Technology
In adjustment to bypass Korean regulations abhorrent ICO’s in the country ICON, forth with a accumulation of added ICO’s was issued in Switzerland and began trading on the Bithumb barter on March 21. The amount of ICX was apprenticed up at the barrage back ICON appear and airdrop accident for its barter which took the amount of the badge to $4, it trades today $4.30 according to Live Coin Watch.
ICON and its adversary EOS which additionally uses its own blockchain arrangement are looked at by abounding as the best way to calibration up the accepted blockchain ecosystem which is why investors like Dan Morehead see it as a champ in the continued term.
