The cryptocurrency world is experiencing an ever increase expansion these days. As of June 2018, there are more than 1500 cryptocurrencies and crypto project available all across the world right now. A lot of them are ERC20 tokens which means that they have seamless compatibility with each other. However, there are also a significant number of projects that run on their own blockchain while utilising their own technologies. These difference in technology results in incompatibility between projects and difficulty in communication among the projects in the crypto ecosystem. Hence, it is beyond the shadow of the doubt that there is a demand for product or solution which is able to bridge and connect all these projects together. ICON (ICX) is a project which was developed to solve the aforementioned issues, and make the crypto community significantly more accessible and user friendly towards consumers.
ICON (ICX) can be described as a decentralized network or a blockchain. However, being described as just a blockchain is a huge understatement for ICON. This Korean based project was built with the vision of delivering consistency in the crypto industry to the world by connecting multiple blockchains across the world. This vision directly addresses the persisting compatibility issues within the crypto industry. ICON wishes to “Hyperconnect the world” by “building the largest decentralized networks in the world.”
The ICON (ICX) project has been undergoing development for an approximate duration of 2 years since 2016. It was launched by Dayli Financial Group , which is a well-known Fintech company based in Korea. On top of that, Dayli Financial Group is also the owner of a Korean exchange known as Coinone, which gave it the advantages and foundation in developing ICON(ICX) project. Interestingly, while the company is operating in South Korea, its controlling entity( The ICON Foundation) is headquartered in Switzerland.
To further explore and understand what ICON really is , We have provided the original and unedited PDF of ICON (ICX) Whitepaper for our readers to understand and digest the details of it .