Feel bad you missed the Ethereum and NEO rocket? Chance to redeem yourself. π
π In a nutshell
The ICON Project aims to build a decentralized network that allows independent blockchains with different governances to transact with one another without intermediaries. Anyone can create a new blockchain project and join the network. A new blockchain project is free to connect with existing projects and create new unique worlds, or blockchain multiverse. ICON itself can be viewed as both a living organism and an ecosystem.
ICON is a vision with a proven track record and has progressed beyond the initial concept stage. ICON already boasts communities comprised of reputable institutions β banks, securities, insurance, hospitals, universities, and more. A future with faster money remittance and frictionless value exchange of securities, medical records, academic data, insurance fees is within our reach. With ICON, we now enter into a world of true hyperconnectivity.
βProblem in current market
ICON is a decentralized network rather than the existing centralized network. Transactions on the ICON Network are verified by a ledger shared within the community network itself, not controlled by a centralized authority. This minimizes the involvement of unnecessary intermediaries, which significantly reduces the fees. In addition, decentralization ensures autonomy and independence of the community. In order to be connected to a centralized system, it is inevitable to passively accept the policies and system determined by the centralized organization. For instance, to use VISA or MasterCard for payment, it is necessary to use their designated system and follow their policies. However, the ICON Network allows each community to autonomously determine the appropriate systems and policies, while reliably connect to other communities when needed.
π ICON goal
The vision of the ICON Project is to introduce the new era of decentralization by redefining the meaning of communities and creating a new world by connecting such communities. Communities today are commonly defined by its social and political functions and limited to the economic boundaries set forth by world nations. Through ICON, communities can go beyond and be free from traditional economic system and promote frictionless value exchanges with other communities, eventually resulting in maximum total utility of society. ICON is not limited to the real world, but it directly connects and communicates with the crypto world creating the most robust network that can scale without limits.
πΆ Use cases:
ICON aims to eradicate the various boundaries that have been existed in the centralized system. Imagine stock investors in Korea trading Apple stocks in real time with US stock investors, or medical researchers at Korean university hospitals obtaining permission to work with diabetes patientsβ data from Sydney and London. βTokenizationβ of assets and rights are being accelerated, and as a result, the dynamics of cross-border connections is being redefined. Existing currencies, tangible assets such as real estate and automobiles, intangible assets such as patents, copyrights, and trademarks, our legal rights such as voting rights and citizenship, and even DNA data or blood test results can benefit from tokenization.
This forces us to rethink everything, even obscures the space-time boundary, and makes distinguishing tangibles from intangibles meaningless. It is possible to trade 0.2 apartments with 0.8 cars, and insurance fee can be directly paid by uploading 5 posts on an SNS.
π Circulating Supply:
ICON has a total supply of 400,000,000 (400 Million)
Circulating supply: 380,000,000 (380 Million)
Symbol: RFR (ERC20 token)
π Roadmap:
Road map for 2018
2018 Q1
Developers meet-up
β’ Expansion of DEX reserve pool to most of major cryptocurrencies
β’ Expansion of partnership with blockchain networks
2018 Q3
Developers meet-up
β’ U-Coin Expansion: 10 Universities
β’ Financial Investment Consortium: Second service launch
A better overview will be given during "The Genesis" summit.
http://tkcryptos.com/icon-summit-genesis-announcement-5-dapps-built-icon-network/
Which will consist on: Mainnet demo, DApps on ICON network, Business and technical roadmap for 2018, Interoperability initiatives: Creating standards β
π₯ Team:
There is a list with over 30 participants that can be found here: https://www.icon.foundation/en/ Press on 'Team'.
π Conclusion:
Great platform with a very well written whitepaper. They already have a massive community which is growing daily. Currently ICON is at the same phase NEO was back when it was called antshares or a year and a half ago when Ethereum didn't have any dApps built on it. This project has massive potential not to mention it's South Korean - we all know South Koreans love to speculate and prefer their own tech and platforms over others. ICON still need to be listed on major exchanges and it's currently blocked from ICO's in the country because of the ban which I believe will in time, be lifted after regulations.
π Price prediction
Currently ICON has a market cap of 3 billion and priced at around 7.50$. So in short, every billion will indicate 2.50$. Looking forward to:
-dApps being built on the platform.
-South Korea legislation.
-Taking off the ban on ICO's.
-Listing on South Korean exchanges.
-Growth potential (partnerships)
I believe it's safe to say we will see a 10 billion dollar market cap by the end of 2018 setting the price at 25$.
In the upcoming years after most of the things I mentioned will be realized and the dApps will start making revenue we might see a 50-100 billion market cap setting the price at around 125-250$ a piece. Crazy? Ethereum has a higher market cap and just a year ago it was under a billion.
π Sources:
All information in this article has been taken from the website and whitepaper and image I do not take credit or ownership on the materials used.
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Good complete info, resteemed !
Thanks allot!
thanks for the research it helped a lot there was a lot of good information that will help me make better investments in the near future your awesome
Glad it helped you!
Nice post! Good job collecting all this information. The @cheetah robot should not have commented, because even though much of this is from the whitepaper, good job condensing it and explaining it! Definitely upvoting and following.
@shredz7
Thanks for the kind comment :)
Thank you for introducing us to this new opportunity to make money, I really enjoyed the proposal of the currency
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
http://docs.icon.foundation/ICON-Whitepaper-EN-Draft.pdf
No shit. I posted the source stating it was taken from there.
Hahaha. Solid reply.
welcome to steemit have a good time
Coins mentioned in post:
good research
Hi Elliot, what do you think of AELF?
https://candy.aelf.io/account/register?invitationCode=0U0V2U8Rb31K
This is great info. This cryp is going to explode. I like everything about it and its purpose. My only concern is the amount of coins. I tend to stick to low circulation and because I've done pretty good with that philosophy I tend to not go against that philosophy but I may break away on this one.