04 Jun 2018 Anthony Lehrman
ICON on the Way to Upstage Asia’s Big Players
There are a few self-declared "Ethereum Killers", yet the unique features and structure of the ICON framework make it one of the few real rivals of the world’s second-best crypto.
ICON has been live for almost a year now, with a current market cap volume of a little over $500 million.
ICX brings together some of the finest crypto masterminds and enthusiasts in Korea, who shaped the concept of the network - the blockchain technology that suits the needs of a hyper-connected society.
Alongside the technical features, the post-ICO success in fast ICON adoption and steady market performance made the community name it as the Korean Ethereum. It is a valuable and efficient smart contracts network, differentiating itself from Ethereum in its main objective - connecting projects while interconnecting multiple types of blockchain-based assets, projects and ICOs.
ICX can be easily described as an ‘all-in-one’ ecosystem that combines together the concepts of peer-to-peer networking, smart contract creation and use, and consensus algorithm. ICON is attracting investors’ attention who see the network’s potential in creating an easily scalable ecosystem that can be integrated into various industries, including healthcare, financial services, education, insurance and others.
Another key feature is the mechanics behind the smart contracting system - they run without the need of VM - it simultaneously supports live transactions thanks to the implementation of LFT and BFT protocols.
A driving force behind the strong market performance of many coins and ICOs is successful and major partnerships. ICON stays on investors radars and wins their trust also because of its strategic partnerships with Samsung, LINE, Wanchai and Hyundai.
Despite its features, ICX is not immune to market volatility, joining the rest of the cryptocurrencies in their sluggish trend. Lately, its price dropped down slightly against the dollar at $2.71 per unit.
Such a decrease in price is not a serious threat for ICX. Its benefits and growth opportunities suggest a positive development in the future when it could reach its all-time high of $12 per unit.ICON