ICON Gaining Attention Several Ways
01 May 2018 - 3:06AM
InvestorsHub NewsWire
Bitcoin Global News (BGN)
April 30, 2018 -- ADVFN Crypto NewsWire -- Ripple is using
RippleNet to connect financial institutions and business across a
universal blockchain - ICON (ICX) applies this concept to
blockchains. The platform allows for connectivity between
blockchains for communication, transactions and even higher level
functions like voting when there is a common issue to be dealt
with.
Running The
Loop
ICON was created by a The Loop - a
company focused on building distributed ledger (DLT) for private
companies. This is a project developed by the Intelligence arm of
DAYLI Financial Group - the largest FinTech organization in Asia.
They provide data tech solutions, digital wealth management, and
lead-generation services.
The ICX platform was developed on
the Ethereum blockchain while their own blockchain was perfected.
This progression happened in late January 2018 - “mainnet launch,”
called Loopchain. The primary goal of the platform is to allow
decentralized apps (DApps) from one entity to exchange information
or value with dApps from another. The big three types of data to be
moved are, identification, smart contracts and currency
exchanges.
Blockchain Interoperability
Alliance
There are other projects working on
a similar concept. Many people have thought that blockchain
projects would begin to decrease by now, but this is not the case.
ICON (ICX largest blockchain
project out of S Korea), Aion (AION Canada), and WanChain
(WAN Singapore) form the
Blockchain Interoperability Alliance.
“The goal of this alliance is to
create a globally accepted standard for connecting blockchains, and
to bring innovations together.”
Many projects are being formed on
top of existing platforms like Ethereum, EOS or ICON. However,
there continues to be improvement to the code and deeper technical
aspects of blockchains themselves to improve things such as
scalability, security and energy efficiency.
DeBlock
This month ICON launched a
Blockchain accelerator program called DeBlock.
Big Bet
Dan Morehead founder of
cryptocurrency hedge fund Pantera
Capital recently stated ICON is the firms
biggest holding right now for 2018.
By: BGN Editorial Staff
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