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Review on ICON by Joeann Rosenburg
Payment & Exchange And A Decentralized Exchange: One of the core features of…
Payment & Exchange And A Decentralized Exchange:
One of the core features of ICON is the ICON Wallet, which can transfer, settle, and exchange currencies in real time through a decentralized exchange (DEX). It can be used in our everyday lives within the ICON community – like for banks, securities, insurance, universities, and other organizations built on the ICON network.
Scalability:
ICON is compatible with traditional blockchains like bitcoin and Ethereum, but it’s also compatible with all other third party blockchain networks. Thanks to this feature, ICON plans to blend together the crypto-world with the real world more effectively than other networks that just support a single blockchain.
Pros
- ICON, found online at ICON.foundation, is a project that could change the way blockchains interact with each other. The ICON project is building one of the largest decentralized networks in the world.
Cons
- Uses For ICON Some of the potential uses for ICON include for e-commerce, banks, hospitals, securities trading, insurance, and even universities. Today, ICON’s network already hosts communities with all of these institutions. The network hosts decentralized apps, or DApps, including blockchain ID and payment/exchange apps. ICON’s blockchain ID system can be issued by financial securities organizations, then used for verification in other communities. Ultimately, the systems built for one purpose – like for identity verification – can be utilized by other applications within the ICON network.
