ICON - A crypto bridge too far?

ICON (ICX)

What is ICON?

ICON is a blockchain project that aims to interconnect different communities; both in and out of the cryptocurrency ecosystem. Through its platform, different networks can interact and transact. ICON’s stated goal is to “hyper connect the world”.

Why does ICON have value?

The ICON blockchain is highly scalable. Users can stake their ICX to get rewards and to participate in governance, delegating their coins to Community Representatives. The network builds an interconnected “Republic”, with communities and citizens. ICON allows you to bridge your assets across multiple chains including NEAR, Algorand, Binance Smart Chain, Harmony, and more.

What are the benefits of ICON?

●       ICX can be staked and delegated to earn rewards.

●       It allows for the development of dApps on the network.

●       Users can make transactions across otherwise incompatible chains.

What are the disadvantages of ICON?

●       Bridged have been prone to hacks (not ICON – but generally speaking).

●       It can be confusing for users.

What are ICX’s tokenomics?

The total supply of ICX is 800,460,000. 50% of it were sold in the ICO.

Who founded ICON?

Min Kim

Who are ICON’s investors?

ICON has conducted 4 sales rounds, including an ICO. The main investors are Kenetic, Hashed, NON-fungible Chan, Limitless Crypto Investments, 8 Decimal Capital, Cypher Capital, Cardinal Capital, and Connect Capital.

Concise Crypto Grade:

C  :ICON has a unique mission trying to build a simple, secure bridge that allows digital asset owners to move assets between chains seamlessly. The great thing is ICON is working with many of the up-and-coming Layer 1’s. The downside is the ICON community doesn’t have much that they can accomplish with the token ICX when it comes to DeFi, Gaming, or NFT’s on ICON. The ICX token skyrocketed when it was launched in mid-2017 but has since struggled to gain any traction.

Where can I buy ICX?

Binance, Bithumb, Huobi Global, Kraken, Gate.io.

What ecosystem does ICON run on?

ICON