Review on ICON by David Olayide
ICON Serves A Bridging Function In The Crypto World
Icon is a blockchain technology and network that is majorly designed to allow different blockchains and cryptocurrencies to interact with each other thus providing a kind of linking bridge between multiple projects to establish a network. ICON had it’s own cryptocurrency token, called ICX. The system works by allowing cryptocurrencies in a decentralized system to meet at a central point. To achieve this, a community is connected to other communities through the ICON Republic and Citizen Nodes.
The blockchain has a purpose to act as an intermediary or a bridge between other blockchains and networks. This feature that ICON offers makes the ICON project different from other networks so far. Currently, ICX has a circulating supply of 580 Million ICX coins and a maximum supply of 800 million coins. If you need an exchange platform to trade your ICX conveniently, then Binance is the best platform you could ever need.
ICON is not without its challenges. The project works with only decentralized communities, so there’s no chance of inducting centralized cryptocurrencies and platforms. However if the idea behind ICON were to work and succeed we could be looking at a potentially beneficial and thriving ecosystem that simplifies a lot of things in the world of cryptocurrencies.
Pros
- It provides a bridge between multiple cryoto communities
- If the idea was to succeed a lot of third party transaction platforms will be eliminated
- It is decentralized
Cons
- Not minable
