Review on ICON by Camie Spivey

Name: ICON
Item: ICON
Rating: 4

September 18, 2018

Loopchain — At the core of ICON is loopchain. loopchain is a high-performance…

Loopchain — At the core of ICON is loopchain. loopchain is a high-performance blockchain that can provide real-time transactions based on two factors, SCORE (Smart Contract on Reliable Environment)and BSI (Blockchain Signature Infrastructure). SCORE is a smart contract provided by loopchain ensuring high-performance running in real time and executed based on a container separated from the basic blockchain process, so the basic blockchain processes at the core of ICON can function properly even if there is a problem with the loopchain smart contract. Generally, when a Smart Contract is updated, data migration is required. However, due to ICON’s versioning capability, Smart Contracts do not require data migration with every update. This means that Smart Contracts can update quick and efficiently on ICON.
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Pros

Share Cryptocurrency is popular globally, but Southeast Asia is probably the largest booming market. When PCs and even smartphones were released, U.S. operating systems like Windows, iOS, and Android became worldwide standards. Cryptocurrency and blockchain technology are quickly decentralizing this and changing the way technology works globally. While this small handful of OS operators controls that digital layer, regional blockchains are being developed around the world for a variety of reasons. South Korea is a cryptocurrency tiger economy and Binance has now announced it will set up shop in the country in the new future. So South Korea is a big deal in the crypto news, but it’s not alone. NEO, for example, is a Chinese-based Ethereum. ICON is South Korea’s answer to both and one of the first Korean-based blockchains to gain support within the country’s borders. Tourist meccas like Singapore and Thailand focus more on value-based cryptos, but ICON is a development platform. With so many countries building so many blockchains, why are so many people betting the ICON proect will survive? We’ll answer that question in a minute, but first let’s review the performance of the ICX coin and ICO in terms of market cap and total supply.

Cons

ICON boasts independent blockchains comprised of reputable institutions in major industries. ICX is a parent-chain using a loopchain-based smart contract protocol that facilitates, verifies, and enacts a negotiated agreement between consenting parties within ICON acting as a point of intersection for a plethora of distributed applications and blockchains. ICON aims to fuel the real world adoption and implementation process that seems to be somewhat inevitable given the current banking and financial crisis.