ICX Coin Review
What Is ICX Coin?
During the bull run of 2017 and early 2018, the cryptocurrency ICX made news headlines when the coin which was valued a little over 40 cents skyrocketed to over $12 in the span of about 6 months. Those types of returns on any asset will get investor attention. But what is ICX cryptocurrency? And what is a conservative ICX coin price prediction investors can look at if they choose to be early adopters of project ICON?
ICX (ICON) is a leading blockchain development putting together a comprehensive platform that will give multiple blockchains the ability to interact with one another other through the use of smart contracts. The cryptocurrency has deep connections and working applications with the tech-savvy South Korean government.
Information found on the ICON foundation website states the mission of the blockchain company is to essentially create one the largest decentralized networks across the globe. The vision is to “Hyperconnect the World“. Although the goal is certainly a revolutionary one, let’s first take a moment to learn more about how the ICON blockchain project was started.
ICON was created by a Korean agency called Dayli Financial Group, which also happens to own one of Korea’s largest cryptocurrency exchanges: Coinone. What the Dayli Financial Group discovered was that there were many functional, real-world use cases for blockchain technology within South Korea, as well as a demand for various blockchain networks to communicate and interact with one another. That is where the idea of ICON came from. The goal of ICON was to develop a solution where information could easily be exchanged between government agencies, financial institutions, healthcare providers, private enterprises and more. By creating individualized blockchain protocols to meet the needs of each client and then connecting each unique blockchain inside the ICON ecosystem, Dayli believes ICON can more efficiently connect Korean and the digital world.
Similar to how ETH functions on the Ethereum network, ICX is a token that operates solely on the ICON blockchain. Services and activities utilized on the ICON blockchain are essentially paid for with ICX coins. Therefore, the value of the ICX coin is directly tied to the ICON blockchain, and basically the level of mainstream global adoption of the ICON blockchain. Cryptocurrency investment in ICX coin will see a net positive return as usage of the ICON blockchain increases, thereby boosting demand for ICX coins. Demand for ICX coins to use on the ICON blockchain combined the scarcity of the cryptocurrency should result in the price going up significantly since ICX coins can not be mined. Therefore, alt coin investors should certainly spend some time learning about why ICX could easily have the potential to be one of the best alt coins to buy 2019.
ICX Price Prediction
How Much Will ICX Be Worth?
Currently, the alt coin market is heavily coupled to the price of Bitcoin, and that trend does not appear to be changing in the short or medium term. However, if the ICON project can become ubiquitous among established agencies such as education, healthcare, government and financial (as outlined in the white paper), the blockchain could truly be revolutionary. What is even better is that ICON appears to be getting substantial support from the South Korea government, making the technology-savvy nation almost a beta test case for mass blockchain adoption.
Although it appears the bottom has been carved out with Bitcoin and the outlook for the crypto and alt coin markets is trending bullish, ICON has spent most of the past year working on updates to the main-net since leaving the Ethereum network. This has resulted in delays in mainstream adoption in Korea. However, the ICON project continues to be an intriguing one, and any ICX coin prediction should factor in two things: developments and the overall crypto market.
ICON Coin News
Those wanting to stay up-to-date on the latest developments by the ICON project and access ICX coin news should utilize the following resources:
All content in this article should not be taken as financial advice. Investors should do their own research before getting involved in the volatile alt coin market.