Review on ICON by Karima Priolo

Name: ICON
Item: ICON
Rating: 5

September 19, 2018

How to Purchase ICX The main way to purchase ICON is through Binance, either…

How to Purchase ICX
The main way to purchase ICON is through Binance, either through trading bitcoin or ether. Binance currently has the largest volume of ICX trading and allows you to exchange ICX with BTC, ETH and BNB currencies.
How to Store ICX
ICON can be stored in any wallet that supports ERC-20 tokens such as Coinomi, MetaMask and Myetherwallet.
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ICON also has an official wallet service, ICONex, which enables users to create and manage multiple addresses. ICONex support ERC-20 compliant tokens, which means ICONex  supports every cryptocurrency that was created on the Ethereum network. You can create your own wallet only via a Chrome extension.
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Pros

The ICON Technology The ICON Network allows anyone to create a new blockchain project and to link the new project to other existing projects to form a greater community through the ICON Republic. Community representatives, (C-Reps) connect communities to the Republic through the Nexus, a loopchain-based blockchain that provides the foundation for the Republic. Loopchain is a blockchain with smart contract features that allows individual communities to function independently yet as part of the greater blockchain ecosystem. Value is exchanged in real time through the ICON Republic with its own decentralized exchange (DEX). Unlike the focus on governance of the C-Reps, the DEX focuses on currency exchange, setting exchange rates using an AI model. The DEX uses ICON’s coins, ICX, as a currency for this exchange. Since ICON’s goal is to be a platform that links different cryptocurrencies, it offers its community the ability to trade currencies without having to use public exchanges such as Bittrex, Binance or Bitfinex.

Cons

The ICON Network The ICON Network allows anyone to create a new blockchain project and to link the new project to other existing projects to form a greater community through the ICON Republic. Community representatives, (C-Reps) connect communities to the Republic through the Nexus, a loopchain-based blockchain that provides the foundation for the Republic. Loopchain is a blockchain with smart contract features that allows individual communities to function independently yet as part of the greater blockchain ecosystem. Value is exchanged in real time through the ICON Republic with its own decentralized exchange (DEX). Unlike the focus on governance of the C-Reps, the DEX focuses on currency exchange, setting exchange rates using an AI model. The DEX uses ICON’s coins, ICX, as a currency for this exchange. Since ICON’s goal is to be a platform that links different cryptocurrencies, it offers its community the ability to trade currencies without having to use public exchanges such as Bittrex, Binance or Bitfinex.