Review on ICON by Alicia Iqbal

Name: ICON
Item: ICON
Rating: 4

September 19, 2018

ICON’s platform is best thought of as a blockchain of blockchains…

ICON’s platform is best thought of as a blockchain of blockchains. Independently-governed blockchains, that can function by their own rules, can operate on the ICON platform to work with each other. While in a Nexus (explained shortly), they will have to abide by certain rules, but they will still have governance over their individual blockchains. Think of them as independent states, with their own rules, working at a international level when they must cooperate with each other.
These independent blockchains connect to each other through the Nexus and have equal voting rights. The Decentralized Exchange that ICON offers will let them trade with each other through the common token, ICX. Every node has equal rights and have a say in the adjustment of ICX transaction fees. These Community Representatives (“C-Reps”) are compensated for maintaining their community’s blockchain with ICX tokens.
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Pros

ICON team comprises of around 45 members each having different roles in the above mentioned departments. ICON also has a good board of advisors which includes: Don Tapscott -Don is one of the world’s leading authorities on innovation, media, and the economic and social impact of technology and advises business and government leaders around the world. He has authored or co-authored 15 widely read books all over the world, including the international best-seller Blockchain Revolution, which he co-authored with his son, Alex Tapscott. In 2015, Thinkers50 named Don as the 4th most important business thinker in the world. In 2017, he established The Blockchain Research Institute, the world’s leading think-tank dedicated to understanding blockchain opportunities, challenges and use-cases. Don is also of the the world’s leading blockchain and cryptocurrency influencer to follow. Paul Veradittakit – Partner at Blockchain Investment Firm, Pantera Capital Jason Best- A Forbes top 10 crowdfunding organizer, and many more

Cons

The ICON project has bifurcated it’s team in the following departments: Foundation Council – including 6 Members Blockchain Department (Technology) Blockchain Department (Business), Artificial Intelligence (AI) Department, and Design/Communication Security.