$ 0.160977 (-4.38%)
ICON (ICX) - Historical Price Chart
About ICONMake a Suggestion
The ICON Project aims to connect all the activities in a country through its own blockchain. It is creating an open source ecosystem that allows organizations like government departments, universities, hospitals, and financial institutions to interact without third-party networks that charge transaction fees or delay the process. ICON’s vision is to allow people to use ICX to pay for products and services directly to organizations that partner with the ICON Network. ICX will essentially be the currency that can be used in the real world for various products and services.
ICON is a project developed by a Korean company named theloop. The engineering team of theloop began its research and development from June 2015. theloop is a joint venture formed between DAYLI and 3 Korean universities. theloop’s parent company, DAYLI Financial Group, raised over $100 million from venture capital firms with a valuation of $4 billion. Theloop is leading four blockchain consortiums including the Korea Financial Investment Blockchain Consortium, the largest blockchain consortium in Korea and one of the largest of its kind in the world, consisting of 25 securities firms including Samsung Securities, Hana Financial Group, Korea Investment & Securities, etc.
ICX is the currency for the ICON blockchain, similar to how Ether is for Ethereum. ICX tokens can also be used for the generation of other tokens within ICON. Since ICON also allows interchain communications, ICX is needed to transfer from one blockchain to another.