Key metricsKey metrics
PricePrice$0.1980
Asset TypeAsset TypePlatform
StructureStructureFoundation
Project StatusProject StatusMVP
OwnershipOwnershipFree
SectorSectorSmart Contracts
IndustryIndustryBlockchain
FoundedFounded20-Sep-2017
Funds raisedFunds raised42.8M
CountryCountrySouth Korea
Key personKey personMin Kim

ICON (ICX) Information{coin_name} ({symbol}) Information

HYPERCONNECT THE WORLD. The ICON project is building one of the largest decentralized networks in the world.

ICON wants to be one of the largest blockchain networks in the world. ICON will boast independent blockchains comprised of reputable institutions in major industries. ICON Foundation is leading ICON project, one of the largest blockchain networks in the world, launched in 2017 with the vision of ‘Hyperconnect the World’. By using the high-performance blockchain engine, ‘loopchain’, ICON projects to connect various blockchain communities and build an environment where blockchain technology can be applied to real life. ICON supports not only private blockchain projects cooperating with various companies, but also DApp developments in public blockchain sector through strategic partnerships to expand ICON’s blockchain ecosystem.
Utility of the coin/token
None

Team OverviewTeam Overview

Kyoung June Eee
Foundation Council

KJ is Founder of Nomad Connection and CEO at DAYLI Intelligence. Nomad Connection is the company behind Zimly, a P2P media service with over 3 million users worldwide. KJ was previously software engineer at the SecureSoft team which developed South Korea's first firewall 'Suhoshin' in 1996. KJ holds a BS in Computer Science from from the Pohang University of Science and Technology (POSTECH).

JH Kim
Foundation Council

He majored in computer science and engineering at POSTECH University, and has worked in the field of information security for nearly 20 years. He has experience in developing patented applications such as PKI, authentication and security protocol and products applied to embedded environment to enterprise environment in finance, public, and private sector. He holds the CISA qualification and is currently the CEO of theloop, the blockchain specialized company.

Jay Kim
Foundation Council

Jay holds BAs in Political Science and Philosophy from Korea University. As CPA at PwC Consulting for over 10 years, Jay was a specialist in strategy and IT operations for leading financial institutions. Jay is now CFO at theloop, a blockchain developer based in Seoul.

Hoon Lee
Foundation Council

Hoon was previously Senior Analyst in macroeconomic research and strategic planning at Woori Finance Research Institute, the corporate think-tank at South Korea's Woori Financial Group. Hoon holds a BS in Mechanical and Aerospace Engineering and Ph.D in Management of Technology from Seoul National University.

Min Kim
Foundation Council

Min brings more than 12 years of experience as corporate director, entrepreneur, investment banker/M&A consultant, VC investor, and mentor to up-and-coming entrepeneurs. Min began his career as Investment Banking Analyst (Tech) at Deutsche Bank, later serving as COO of Tapas Media, the American digital content sales platform. Min has a degree in Business from UC Berkeley.

Guido Schmitz-Krummacher
Foundation Council

Guido Schmitz-Krummacher is our Board Member based in Switzerland. He has worked for 25 years for SME in MD, Board or CEO positions. Guido joined the crypto-industry a year ago and is an interchain of different crypto foundations and companies.

Jinho Yoo
Lead SW Engineer

He has experience in medical field, 3D construction and game engine design with background of computer vision, computer graphics and machine learning. He has been studying how to operate an effective software engineering team by Agile coach, and is now leading the design and implementation of core modules for loopchain.

Yongjin Kim
Lead SW Engineer

Yongjin is an experienced embedded software engineer with skills in http and rtsp video streaming on home networks. Yongjin is an engineer with ICON's DApp team, and has a degree in computer science.

Hyunkoo Shin
Lead SW Engineer

He majored in mathematics at university and graduate school. In particular, he has been devoted to cryptography. He's been working in a PKI company for the last 10 years and performed a wide range of tasks from developing a cryptographic library to developing a PKI service. Currently, he is building the best smart contracts that can seamlessly connect the blockchain and the real world in theloop, the blockchain specialized company.

Chiwon Cho
Lead SW Engineer

Chiwon brings a broad knowledge of current programming languages and platforms. At ICON, Chiwon is lead software engineer for our loopchain's SCORE component. Chiwon has a degree in computer science.

Jay Park
CTO

Jay has a BS in Computer Science and MS in Software Engineering from the Pohang University of Science and Technology. He has developed embedded software for eye examination equipment, transmission control systems for Korean cable television, artificial intelligence-based smart factory systems, as well as various other programs at the enterprise level. Jay brings to ICON a deep knowledge of high-performance scalable service design on public cloud environments. At ICON, Jay leads the development of pioneering services coupling blockchain technology with artificial intelligence.

Byeongkil Sohn
Lead SW Engineer

He has a bachelor's and a master's degree in computer science and software engineering. He started his career with network engine development using IOCP and experienced various network server development such as game, service, BaaS platform. He has a lot of experience and interest in Agile methodologies such as Extreme Programming and Scrum.

OrganizationsOrganizations

ICON Foundation

10, Gukjegeumyung-ro Yeongdeungpo-gu
Switzerland

Questions and AnswersQuestions and Answers

What is LFT Algorithm?
LFT, an improved algorithm from PBFT of BFT series, has reduced the overhead problems using Piggybacking techniques and has resolved the problems of malicious nodes sabotaging the consensus through Spinning techniques.
How far advanced is loopchain-based LFT algorithm compared to PoW and PoS in regards to the speed and transaction processes?
The former consensus algorithm including the PoW and PoS required all nodes to reach a consensus by deciding the validity and priority of the blocks. These methods limited the performance and scalability while demanding compensation for miners. Through resolving the problems of former algorithms, LFT is an enhanced algorithm with no chance of disturbance by malicious nodes and reduced communication errors.
Does the loopchain have its own unique language for smart contracts?
Unlike Ethereum where developers can use only certain languages available on EVM, ICON offers a self-developed smart contract platform called SCORE. Currently, the loopchain provides the nodes a smart contract source code based on Python language which enables them to utilize Python runtime as it is. In the future, when the supported languages are expanded to Java, Go, and other languages, the compiled codes will also be applicable.
Who can participate in developing and distributing SCORE?
At the moment, the development and distribution of SCORE is open exclusively to the certified partners of ICON. Therefore, anyone who signed an official contract with the ICON Foundation is eligible to participate in developing SCORE. Smart contract platform for general users called SCORE Lite™ is currently being developed and we will soon be providing a roadmap for this project.
Are C-Nodes from other blockchains connected with Nexus not allowed to utilize DApp if they are not a Nexus-Client?
Yes, Smart contracts are executable only inside one blockchain which makes DApp unable to be directly executed. However, through interlocking the BTP transfer protocol with Nexus and Portal, smart contracts from other blockchains can be executed indirectly and their outcomes may be usable.
What are the functions and purposes of each nodes regarding ICON DApps?
The actual operation of smart contracts in DApps occurs within the Full Nodes. Light Client can only trigger smart contracts and look up results.
What is DEX and when will it become available for public usage?
DEX is a trading market that executes transactions automatically on a decentralized blockchain. ICON, as a blockchain with its own autonomous governance, provides DEX based on ICX. Currently, we are implementing DEX between ETH-ICX and we are planning DEX services for other various cryptocurrencies.
How is ICX issued and what is the future issuing plans?
The amount of newly issued ICX is an increment function of the growth rate in the ICON network activity. The activity level of the ICON network will be measured by the sum of IISS scores of individual participants. The purpose of taking into account the activity levels in determining quantity of issue is to check ICX against volatility driven by spikes in demand. The parameters of the function are set so that the maximum rate of additional ICX issuances does not exceed 20%. In practice, the amount can be further adjusted within a 5%p range through the consensus among C-Reps. However, until the time point when reliable figures are presentable and meaningful consensus can be reached from the accumulation of IISS-related data and the increase in the number of C-Rep, the amount is scheduled to be at a fixed rate.
Are there transaction fees on the ICON network?
Even though the transaction fee is currently set to 0.01 ICX per transaction, it will be charged according to a fee structure that reflects the degree of complexity of each transaction. Elements such as the amount of transaction fee or the respective fee ratios of Full Nodes and Light Clients can be modified through consensus in Representation Channel. An optimal level of transaction fee will be proposed by AI analysis prior to the consensus so that C-Reps can take it into account during the consensus.
What is the role of C-Rep and what is the reward?
C-Rep refers to a singular or plural C-Node that represents a Community. C-Rep functions as a portal which connect a blockchain community to ICON network and has voting rights in Representation Channel. IISS, an AI-based assessment system, evaluates the participation level of C-Rep according to ICX exchange volume, DEX exchange volume, Freezing volume, DApp generation and usage, and smart contract exchange, and ICX incentives and voting right are allocated to C-Rep proportionately to IISS score.

TechnicalTechnical

Key metricsKey metrics
ProofProofDPoS?

Source Code Repositories

icon-project/iconex_chrome_extension 45 Stars 9 Contributers 7 Open Issues

icon-project/loopchain 40 Stars 16 Contributers 13 Open Issues

Blockchain engine for icon foundation.

icon-project/t-bears 27 Stars 15 Contributers 2 Open Issues

Test Suite for ICON SCORE Development

EconomicsEconomics

Tradeable CoinsTradeable Coins
490,453,303 (61% of total) ({tradeable_of_total} of total)

Exchange Markets

ExchangeExchange MarketMarket PricePrice DiffDiff Volume 24hVolume 24h SpreadSpread Spread $1kSpread $1k
Binance ICX/BTC $0.1983 0.16% $1,191,080 0.6% 0.6%
Binance ICX/USDT $0.1982 0.09% $966,960 0.2% 0.55%
Binance ICX/ETH $0.1976 -0.21% $194,222 0.32% 0.96%
Upbit ICX/KRW $0.1943 -1.9% $127,817 0.84% 1.3%
Binance ICX/BNB $0.1979 -0.02% $69,011 0.3% 1.2%
Gate.io ICX/USDT $0.2003 1.2% $6,622.20 1.6% 24%
Gate.io ICX/ETH $0.1923 -2.9% $216.89 3.8% 37%
Lykke ICX/BTC $0.5902 200% $0.0000
Lykke ICX/ETH $0.2596 31% $0.0000

Latest ICON NewsLatest ICON News

ICON on Twitter

If you have any questions about how the ICON network works, Dr. ICON is here with an answer! Dr. ICON has a Ph.D (that’s why he’s a doctor) and his job is to design ICON’s architecture. #followhim #askhim… https://t.co/vfRYh2ygkb

ICON on Twitter ReadRead 

ICON on Twitter

ICONLOOP had an eventful night at @hashed_official with the leaders of Korea including the deputy mayor of Busan Metropolitan City. Korea's #2 city is making some big moves. And yes, we plan to be involved. Stay tuned! #goiconists #blockchain #busan https://t.co/Ph1z6qpDMc

ICON on Twitter ReadRead 

Henry Lee on Twitter

Today Korean politicians, think tank, city of Busan, @hashed_official, @terra_money, and @helloiconworld got together to discuss the current state of the Korean blockchain industry and our way forward. Few interesting mentions by National Assembly members and Busan.… https://t.co/CofdOPYUai

ICON on Twitter ReadRead 

ICONEcosystem on Twitter

1/4 #ICONweekly ?? @helloiconworld announced their participation in the #ICONSENSUS Campaign: https://t.co/QFK2oDy1XV ?? @VelicFinancial is now the top exchange by $ICX volume on @CoinMarketCap ?? As of now, 61 teams have applied to become P-Reps

ICON on Twitter ReadRead 

Min on Twitter

South Korea is #1 in ‘World’s Most Innovative Economies’. Similar to the way this is overlooked by the general public, I believe ICON is still overlooked. When others overlook things, it’s an OPPORTUNITY for you. #iconist #iconrepublic #iconproject https://t.co/iB1YbC00iM

ICON on Twitter ReadRead 

ICON on Twitter

?? Round 4 Participants: DSNC, Portal Network @itisportal , ICON Sweden, HKICON https://t.co/fIa5DsTMcw… https://t.co/JvPdOTbUp3

ICON on Twitter ReadRead 

ICON on Twitter

?? Round 3 Participants: ICONNECT @IconnectG , Draicon Ball, Piconbello, Rhizome @RhizomeICX , POS Bakerz https://t.co/z0niufmh2y… https://t.co/3tMdFBoo3i

ICON on Twitter ReadRead 

ICON on Twitter

?? Round 2 Participants: Ubik Capital @ubikcapital , ICONation @ICONationTeam , Pocket/Figment, MixMarvel @MIXMARVELGAME https://t.co/sz4eDmghvY… https://t.co/acRCQIMSh5

ICON on Twitter ReadRead 

ICON on Twitter

?? Round 1 Participants: Common Computer, Paradigm Citadel, Chainode Capital, Gilga Capital https://t.co/R2UVwguXbW…

ICON on Twitter ReadRead 

ICON on Twitter

Thanks to @iconcm, Now we can better understand each P-Rep candidate team. Watch P-Rep Panel Discussion on YouTube! https://t.co/WCzbjf6tTz

ICON on Twitter ReadRead 
This information is provided AS IS and is not adviceThis information is provided AS IS and is not advice. May contain errors or omissions. Please always do your own research before trading.May contain errors or omissions. Please always do your own research before trading.
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