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Review on ICON by Bethany Clements
From the investment perspective, the business idea of the team, which is based…
From the investment perspective, the business idea of the team, which is based in the Republic of Korea, is generally interesting. They state that they are creating an improved version of already operating equivalents, which improves performance and efficiency for potential users. In any event the project is worthy of the community's attention, despite the uncertainties we identified from the viewpoint of its success.
Pros
- Bancor provides a Decentralized Exchange (DEX), which makes it possible to make online cryptocurrency transactions on the basis of a fair price algorithm using Ethereum reserves. Bancor supports different business models, such as the ETF, by exchanging crypto-conversions on the basis of the reserves. Fees for transactions and speed limits resulting from operating on Ethereum are, nonetheless, a serious test for this service.
Cons
- Among project's direct competitors we may single out the aion.network project. Its team is working on a similar system to unite different blockchains into a single network. The project has presented a white paper only, and is not planning to hold an ICO. However, AION may be a notable competitor of the ICON network in the future.
