Review on ICON by Marlena Kaźmierska

Name: ICON
Item: ICON
Rating: 5

June 17, 2019

Icon the revolutionary cryptocurrency

The users are able to settle and exchange the currencies around the world in real time through the decentralized exchange (DEX) which is run by ICON. This can prove really useful in a variety of different sectors but especially in the finance and banking sector.
The users can benefit from the simplified verifications across different industries by using the Blockchain ID technology. This is created through a smart contract. This will allow the users to sign up for various government services, open an account in a bank and even verify the age at different events just within a few seconds.
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Pros

ICON is scalable and it is working to solve the issues with the major cryptocurrencies such as bitcoin and Ethereum.
ICON network is highly usable which makes it possible to use the blockchain technology in day to day life.
The growing trend which is ideal for the blockchain communities is decentralization and ICON is decentralized. The blockchain communities can connect and interact with each other because of the decentralized nature of the ICON network. This is possible even if the other communities have varying structures of government.

Cons

Even scalability could be one of the major issues in the blockchain network where everything is verified by several other nodes. It could prove as a limitation for the transactions.
Tech team faces some issues recently