1 Level
12 Review
4 Karma
Review on ICON by ikrar nusa
ICON conducted their token sale from September to October 2017, where they…
ICON conducted their token sale from September to October 2017, where they successfully met their fundraising goal of 150,000 ETH. 50% of the tokens were available to the public for sale. 16% was allocated to the project’s reserves, 10% was set aside for the team, advisors and early contributors, another 10% for community groups and strategy partners, and the final 14% for the foundation.
Pros
- ICON has developed its own consensus algorithm, called Loop Fault Tolerance, that supports Byzantine Fault Tolerance. LFT aims to improve performance by consolidating messages across the network. This method uses a technique called “spinning” to make selecting the primary node simpler. It reduces the number of nodes involved in consensus, thereby making the network more efficient and scalable.
Cons
- Ranking 17 on Coinmarketcap with a total market cap of just over $3 billion (information correct as of time of writing), ICON’s value almost consistently increased over 2017. In the recent chaotic episode that has been taking place in the markets, its value has dropped from its market cap peak of $4.6 billion, but the forecast is good for the coin. The current value of the coin is $7.98 (as of January 19, 2018).
