ICON (ICX) - a cryptocurrency with a fixed fee, regardless of the size of the transaction

ICON (ICX) - a cryptocurrency with a fixed fee, regardless of the size of the transaction. If the cryptocurrency is called Korean Ethereum, it's definitely a compliment to its creators. And if we add to this that this comparison is not exaggerated in any way, then we quickly understand that raising USD 42 million for its development in just a day is definitely not an accident.

We continue the Forex Club portal cycle, in which we describe the largest, the most interesting, the most popular and the most controversial cryptocurrency projects in the world. Today it's time for ICON, which is extremely popular not only on the Asian market.

Basic information about ICON (ICX)

It is a platform and a cryptocurrency that wants to be a bridge in many network projects blockchain. Until now, the Achilles' heel of most separate blockchains is the difficulty in their communication. ICON wants to change this by focusing on smart contracts that can be used not only in business solutions, but also in everyday use.

The company is behind the project Dayli Financial Group from South Korea. This is a well-known entity on the cryptocurrency market. He leads, among others Coinone cryptocurrency market, also creates IT solutions for trading companies, relying on machine learning, more and more often called simply artificial intelligence.

Instant ICO ICON platforms

Like virtually all cryptocurrency projects, this one was also based on public fundraising. ICX tokens were initially issued on the Ethereum smart contract. This took place on 20.09.2017. On the first day, the maximum planned amount of ETH was collected, corresponding to approximately USD 42 million. So much for half of the 400,230 million tokens. 33% of them were divided between the project creators and the ICON foundation. 17% was allocated to reserves. Thanks to this, the ICON network was launched on June 20.06.2018, XNUMX, and the tokens could be transferred from Ethereum to their own network.

How ICON works

The network's activities are focused on the so-called The ICON Republic, which is a kind of merging node for other communities, i.e. all blockchain networks operating within it. Each community can work on its own network, but must cooperate with the republic. Thanks to this, in the ICON network it is possible to conclude transactions not only within one community, but also between them - even if they operate on separate blockchains.

This allows not only for good cooperation between the chains, but also a significant acceleration of the operation of the entire network. This translates into its scalability. It can carry out up to 3 thousand. transactions per second. However, there is little to prevent a triple increase in these possibilities. Especially since ICX has a fixed transaction fee, regardless of whether the exchange is for an insignificant amount for the market or it is huge. So its popularity is growing naturally.

ICX quotes

Currently, ICX cryptocurrency can be traded on 26 cryptocurrency exchanges from around the world. As we have already mentioned, it is the most popular in Asia, where it comes from. As at 24.05.2020/0,31/473,4, the price of each token reaches USD 59. There are 800,46 million units on the market, which is 150% of the planned XNUMX million which are to be marketed. For the time being, this gives capitalization in excess of USD XNUMX million, and ICX's daily turnover  it's almost USD 38 million.

The peak of trading took place on January 09.01.2018, 12,64, when the ICX price reached USD 4,5 and the market cap exceeded USD XNUMX billion. This placed cryptocurrency in the top fifteen cryptocurrencies in terms of capitalization.