ICX Coin is the cryptocurrency that is native to the ICON network. It is similar to Ether for the Ethereum network. In ICON cryptocurrency network, functions must be paid for using the ICX currency. The ICON network has been in development for 2 years. It was created by the Dayli Financial Group. The Dayli Financial Group is a Korean firm that specializes in financial innovation and technology. Coinone exchangers are familiar with the name of company. The company own the Korean platform that allows users to buy and sell various cryptocurrencies.
”Hyperconnect the world” is the idea behind the ICON network. The Dayli Financial Group is trying to build the largest decentralized network the planet has ever known. They also trying to create a platform for users to interact between different blockchains. With complex smart contracts this interaction will be done.
ICON Price Prediction 2019 – ICX May Touch $5.05 USD by 2019 End
Market prediction for ICON price 2019
Although ICON (ICX) is new to the market, it has managed to secure its position in the top 40, by market capitalization. The market has seen lots of fluctuations this year, especially in the last quarter. Other cryptos are slowly and gradually getting back to its original shape, but ICON is taking a bit more.
In this turbulence, let’s check out what the market experts or the editorials have got to say regarding latest ICON price forecast.
CoinLiker is a crypto website which predicts that ICON might reach $3.79 by the end of 2019 which is pretty unrealistic and probably one of the most bullish (optimistic) ICX predictions we have seen as right now, that too when it is trading at less than $1. CoinLiker also predicts that in 3 years, ICX might trade at $9.59 and in 5 years, it might touch $13.62.
Walletinvestor- a crypto forecast hub predicts that ICON price might reach $0.263 USD by the end of 2019, which seems pretty reasonable and conservative.
Trading Beasts- a crypto news publishing forum predicts that ICON will be at a maximum at $11.86 and minimum at $9.48 by 2019 end.
Price Prediction is a cryptocurrency price forecasting forum, which predicts that 2019 is going to be a much better year than 2018 for ICX as the coin’s price value will hold its value between $11 to $17.
ICON (ICX) Price on the Road to Recovery: Here’s Why
To date, over 100 businesses have partnered with ICON. For 2019, ICON will focus on governance through staking rewards. This means users will soon be able to stake their ICX to earn rewards.
ICON Maintains Dominance in Korea
It’s pretty clear that ICON has remained the absolutely dominant blockchain platform of Korea with deep ties to the government, and business deals with the largest corporations and consortiums in major industries.
It has partnerships with two of the largest banks in Korea, Woori Bank and Nonghyup Bank, to develop and research ICON tech for banking use cases.
With a lot of crypto projects on the edge of bankruptcy due to the bear market ICON’s financials remain healthy. They even managed to expand to a much larger and better office space capable of supporting up to 470 people.
The Korean Ethereum: ICX
“The Korean Ethereum,” was a great nickname, until Korean’s stopped trading due to regulations. However, this back and forth has taken place for a year and they’ve begun trading full force again. Their beloved ICX has yet to recover as many are expecting. ICX $0.32064 -0.58% has a market cap of $230 million, which is over 10 times that of GoChain’s. ICX’s market cap is still a fraction of NEO or Ethereum’s but is 1200% higher than GO’s.
ICX has made headlines recently by announcing they were going to use $5 million to buy back their ICX tokens from the market. If a team wanted to “show faith” in their project, how better to do it than actually buying back their tokens? Their team is South Korean based and they have the support of their country’s tech sector (even when the government is not completely cooperating). ICON’s blockchain works as an intermediary between blockchains creating an interoperability potential worth monitoring.
The financial tech company that founded ICX, Dayli Financial Group, is worth over $4 billion and many claim they are the owners of Coinone, a major Korean exchange. The purpose of ICX is a pivot platform that leverages dApps and incentive scoring to fill any gaps in a compatible blockchain network. ICX has a next level blockchain with a decentralized exchange embedded within it along with Artificial Intelligence actively running.
Even at 12x the market cap of GO, ICX is still far undervalued in comparison to ETH or NEO. ICX should see major gains with the Korean markets building steam and the overall crypto markets building momentum. ICON has a decentralized exchange for OTC exchanges, they were created by one of the largest financial groups in South Korea.
Korean Project ICON Introduces New Token Standard
ICON, a Korean-based project that wants to establish itself as the decentralized network for blockchain interoperability, has made three significant announcements in the span of two days.
As the market starts showing signs of recovery, with several cryptocurrencies ‘popping off’ and registering percentage gains in the double digits, the ICON Foundation has come forth with three announcements of its own.
ICON Tokens for Real World Assets
IRC16, a newly-formed token standard for ICON’s blockchain network, is designed to allow for the transparent issuance of tokenized assets and securities. Moreover, it supports the tokenization of physical assets via a modular architecture for built-in compliance for legal regulations related to asset ownership and transactions.
Tokenization of real-world assets has been a hot topic in the second half of 2018, with several projects working on conducting security token offerings (STOs). Tokenization leads to an easier division of ownership for physical assets into smaller units, which is expected to improve liquidity for high-value assets and expand the investor pool.
As all transactions that guarantee the settlement of asset trading between sellers and buyers are executed on the blockchain via smart-contracts, the processing time and fees are minimized.
The IRC16 standard fulfills four functions.
First and foremost, it checks whether or not token users have passed the necessary KYC (know your customer) and AML (anti-money laundering) procedures.
The second control point is related to compliance with regulations for a specific asset.
A third module ensures that all relevant legal documents are being recorded and stored.
The final module allows for token customization by issuers.
Blockchain technology section describes several areas that will have work done on them:
loopchain (p-Rep/citizen nodes, websockets in citizen, synchronization system, ICON RPC server, sync abort recovery, transaction hash/signature management, block versioning/generator rotation, a logger and SSL support)
ICON Service (JSON-RPC API, ICX manager, prevalidator, SCORE package validator)
T-Bears (CLI based SCORE development environments that will let you test your smart contract locally in an emulated environment)
Interchain-BTP (Interchain PoC for ICON-Private Chain, Interchain PoC for ICON-Public Chain, Interchain SDK for public/private chain etc.)
Parallel Processing (a scalability solution for the project’s chain)