ICON Cryptocurrency (ICX) is a cryptocurrency network launched in 2017 by a South Korean company. ICX is a related cryptocurrency token or currency. ICON is actually a complete blockchain network, the main purpose is to promote the connection and interaction of various blockchain software programs through the ICON network.
ICON aims to act as a kind of blockchain hub or connection point. The company is addressing an important need in the evolving field of blockchain technology. One of the challenges of the widespread adoption of blockchain technology is that each independent blockchain community uses its own network. Therefore, the ability to connect multiple independent networks is an important step forward for blockchain technology, and it is increasingly used as a more secure mechanism for transmitting and / or storing all types of data. One of
ICON's major projects is the development of a blockchain-based driver's license through its decentralized identity (DID) technology. Under the current system, all driver's license information is stored on a central server, which is vulnerable to security vulnerabilities caused by network attacks and hacker attacks. ICON's goal is to create a decentralized system in which people can simply save their personally authenticated information on their mobile phones or similar devices. The ICON blockchain technology is part of a rapidly developing field and is called "DeFi", short for "decentralized finance." ICON's own decentralized exchange establishes and maintains foreign exchange reserves for each blockchain network connected to ICON, allowing all members of the ICON "community" to easily exchange value in real time.
ICON cooperates with several major blockchain “partners” using its network, primarily in the financial, government and healthcare sectors. The company recently reported that Jeju Island, a South Korean tourist destination, will begin using ICON's decentralized identity program to securely track resort visitors who have tested positive for the COVID19 virus. The
ICON blockchain network includes several different services, such as "BROOF" which is a document issuance service used by Pohang University to issue diplomas. Diploma digitization provides protection against fraud and makes it easy for employers to verify the education status of potential employees. The company also provides anti-spam technology to South Korean government agencies and more than a dozen banks.