1 Level
6 Review
4 Karma
Review on ICON by Georgia Davies
Finally, the way ICON handles DApps are different – while on the Ethereum…
Finally, the way ICON handles DApps are different – while on the Ethereum network, it’s required to use an EVM (Ethereum Virtual Machine) on a node, which can slow down the processing functions of that node. On ICON, DApps are executable files which run on local nodes that are directly benefiting from the execution of the DApp. There is no EVM, and while this isn’t directly specified, it’s likely that these DApps will be more function oriented and not be Turing Complete.
Pros
- ICON has several key benefits that they will enjoy as they roll out their platform – firstly, they have a generalized product that can be used by various companies, entities, and individuals. This is a key step towards mass user adoption. ICON has at times been called the “Korean NEO”, for its similarities to NEO (which in turn was called the Chinese Ethereum). This is an auspicious label, as many people are flocking towards platforms that provide services and can create many “children” projects as opposed to specific tokens and assets.
Cons
- ICON is a large team comprising of over 35 blockchain experts, advisors, managers, and financial professionals that will be working on the project. The team has already begun collaboration with several Korean organizations including major hospitals, life insurance companies, and other government-backed agencies.
