Review on ICON by Mohammad Shuja

ICX is a blockchain network for smart contracts, where any blockchain may establish connection and share value via the decentralized exchange (DEX), which is managed by ICX. Ethereum's smart contracts feature may be seen as a specific use of that blockchain's functionality. This is advantageous since the Nebulas mainnet will allow for new features to be developed that were not feasible on the Ethereum blockchain. Another key benefit of ICX is the ease with which money may be moved between parties. Additionally, ICX allows for the exchange of value across different platforms, allowing for greater applicability and the linking of increasingly fragmented sectors.



ICON has the potential to be a game-changer, especially if it succeeds in its stated goals and ambitions. If it can live up to these expectations, it may set the basis for blockchain interoperability and really unite the fragmented sector as it exists now. Regardless of whatever industry you work in, you will find abundant application of innovation. It is not necessary to have several blockchain protocols designed for various industries since they are all most efficiently done using a single protocol. ICON (or The Circle) is very important in this case. Blockchain IDs would fix another issue — identity verification.



Innovative methods such as exchanges are also often reported problems within the business nowadays. In centralized exchanges, customers' funds are at danger of hacking and theft. In a decentralized exchange, no one entity is put at risk. The new decentralized environment will be safer and more secure for users, thanks to the functionality of ICON's DEX. Another possible solution to this problem is to utilize services such as CoinSwitch, which allows users to trade cryptocurrencies using their own wallets instead of exchanges that are hosted by third parties.



The ICON decentralized exchange facilitates in-depth worldwide currency settlements in real time. This is an industry standard that is wide-ranging and far-reaching, particularly in financial services. Users may benefit from simpler verifications, thanks to the Blockchain ID technology that is implemented through a smart contract. By allowing people to instantly register for government services, establish a new bank account, or verify their age, they will be able to significantly simplify their lives.