1 Level
6 Review
3 Karma
Review on ICON by Shannon Mahmood
The ICON Project is an ecosystem of blockchain communities connected through…
The ICON Project is an ecosystem of blockchain communities connected through its proprietary ICON Republic Community. The Republic (aptly named after represented government) acts as a United Nations which allows each individual community to decide what’s best for its network while acting as an intermediary to keep them all functioning in relation to each other.
Pros
- Loopchain: ICON’s central technology revolves around loopchain, described as “a high-performance blockchain that can provide real-time transaction, which is based on enhanced Smart Contract.” Loopchain is built for enterprise use, and the smart contracts can be customized according to operational needs. Most importantly, those smart contracts can also be linked to other distributed ledger networks over the ICON platfo
Cons
- In fact, ICX tokens are ERC20 tokens that can be stored in any Ethereum wallet, but don’t confuse the tech with the Ethereum blockchain. ICON’s blockchain is more like the Plasma or Ontology blockchain in that its purpose is to act as an intermediary between other blockchains and networks. This interconnectability makes the ICON project worth keeping an eye on over the next decade.
