ICON is a decentralized cryptocurrency platform that intends to change the way different blockchains interact with each other. The project creates one of the largest peer-to-peer networks in the world. The system includes a group of independent chains of blocks working together. In addition, the service should facilitate the process of conducting transactions between them – even if several architectures are used.
The major token sale took place on October 2017, the presale was held at the end of September. Back then, 2,500 ICX coins equaled 1 ETH. The team managed to gather 150,000 ETH in the crowd sale. One of the main factors of Icon success is support from the government of South Korea and local companies. The list of Icon’s partners includes but not limited to:
- South Korean Investment and Financial Consortium.
- The Korea Healthcare company which is rightfully considered the largest operator in the South Korean market.
- Association of Universities of South Korea. Especially for this association, an offline payment system was launched on the basis of ICON.
Icon Coin Fundamental Value
Icon blockchain boasts the whole gamut of advantages:
- Use of the unique LFT algorithm, which makes it possible to ensure maximum processing speed of operations.
- The multi-channel network created to simultaneously manage multiple tasks. A separate channel is provided for controlling each task.
- The platform boasts modular architecture. In addition, each platform module provides a high level of scalability.
- Thanks to the special algorithm of delegated evidence, it is possible to effectively attract and motivate new participants in the system.
- The platform can adjust the level of inflation that affects the value of coins. To regulate the value of inflation, the system of maximum permissible values is used.
- The platform leverages a unique “Interchain” algorithm that ensures system compatibility with all existing types of blockchains.
- When performing payment transactions in the system, users are charged a minimum commission. The commission fees in the system were introduced not for enrichment, but to compensate for the overhead.
Potential applications for Icon services include e-commerce, banking, hospitals, securities trading, insurance, and even universities. Today, several companies have already been posted on the site’s network. The system also includes decentralized applications or DApps, including blockchain identifiers and programs for paying or converting digital currency.
Today, Icon is 56th cryptocurrency by the market cap, and ICX price today is $0,19. The blockchain is being slowly introduced in various companies.
|Consensus Protocol||Loop Fault Tolerance (LFT)|
|Market cap||$95 799 603|
|Curr. Supply / Total Supply||492 845 169 / 800 460 000 BTC|
|ROI since launch||-52,46%|
|Launch date||27 October 2017|
ICON Coin 2018-2019 Price History
2018 wasn’t successful for ICX. At the beginning of 2018, ICON-LOOP and Samsung Electronics signed an agreement where the electronic giant pledged to use chain ID for Samsung pass. All this gave colossal hype to ICON in the previous year, and everyone had enormous expectations.
However, the bear run happened and affected all altcoins during 2018. The team disappointed their supporters and investors with a lack of delivery of the promise and poor communication skills.
Icon (ICX) Technical Analysis
What do traders and crypto enthusiasts think about trading opportunities of Bitcoin Gold? Check the technical analysis from TradingView: it reflects the opinion of users:
Icon Community Reputation
As we’ve mentioned, Icon cryptocurrency is supported by huge Korean investment funds, such as Kenetic Capital, as well as other Korean companies. It’s considered to be the best blockchain project in South Korea. However, the crypto community also regards Icon as a prospective project.
Twitter users support the team and its project:
The number and projects willing to use ICON and implement its blockchain are growing:
According to the search trend, ICX has always been interesting for Interesting users: the peaks of interest repeat once in every month.
Influencers Projections on Icon
During the time of its existence Icon has been through a roller-coaster: its price kept changing, and the popularity, too. Crypto experts are looking forward to the coin to reveal its full potential.
Here’s what amateur traders and crypto enthusiasts think about ICX price prediction:
- Twitter users provide diverse opinions about ICX price with the most adequate price forecasts around $1.5-3 by the end of 2020.
- TradingView users claim that ICX can reach $0,45 level in the nearest time, then up to $0.5 and higher. Thus, the $1 target by the end of 2020 is quite possible.
- CoinLinker provides a very optimistic ICX price prediction: $3.6 by the end of 2020. Evidently, this scenario will not play out.
As for long-term ICX price predictions, Twitter users seem to be too optimistic (they suppose ICX will cost $20-30-40, which is unrealistic).
What to expect from ICX Price in 2020?
Considering the long-lasting bearish period, ICX will either keep somewhere around $0,19 or go up to $0.45. It’s not likely that ICX coin price will exceed $1 level – the crypto market is far from starting the recovery, and the downtrend continues.
Generally, ICON is a great long-term investment that might bring you considerable profits in 2-4 years. Since the Korean government supports it and promotes massive Icon introduction in various projects and companies, the cryptocurrency has boatloads of potential to realize. ICX price might multiply within the following years.