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Thursday, June 30, 2022

ICON and how it operates

Sometimes, due to sheer audacity, some people divide the world into two parts into whatever prefers or fits their model of perception. A sort of duality exists within the cognition of the human mind to characterize a single thing as good and the other thing as evil, one heaven, and the other hell, ying and yang etc. It is the paradox of life as philosophers would say. But let us not talk too much about frivolous things. The matter at hand is the ICX token by ICON.

ICON is a blockchain protocol for decentralized applications. As an aggregator chain, it achieves interoperability—a web of interconnected networks aggregating all blockchain data into one layer. ICON was founded in 2017 by a South-Korean based firm, the ICON Foundation. For enabling mass adoption ICON is working on interoperability of the whole ecosystem. In the whole community, each network is known as a community which can be participated by the banks and institutions.


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ICON understands that the majority of blockchain projects put an emphasis on their decentralization methodology and lack evidence of adoption in the real world due to their technological and business limitations. This is why it aims at truly achieving hyperconnectivity.

The ICON vision consists of the following components:

  • Community: With the same governance, a network that consists of different nodes is known as a community. Schools, governments, blockchains, all of these can be considered a community. These differ on the basis of their scale and their node characteristics.
  • C-Node: C-Node is known as a Community Nod. It is the building block of a Community that governs the governance of a community. The members of the community determine the policies associated with C-Nodes.
  • C-Rep: C-Rep is short for Community Representative represents the community
  • Icon Republic: ICON Republic connects different communities. It C-Reps and other nodes. As it is decentralized, the governance is done by votes of C-Rep.

ICON Price Action

The ICON coin is generally regarded favorably by the market with its current value at $2.25. In just the previous year, ICON has gone from $0.294 to its all-time high value of $3.26. Market corrections and the alarming news of the international market have played a role. But the prospect of this coin have been ranked high, with Wallet Investor predicting a value $2.987 by next year and Digital Coin Price being more generous with a value of $4.13 in 2022.

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