Both blockchain and cryptocurrency are cracking more and more into the mainstream, and several projects are blazing the trail to thrust for the incorporation of this revolutionary technology into markets, economies and industries all around the globe.
One cryptocurrency that has already bot adopted into a number of major industries is ICON (ICX), a project based te South Korea that aims to “hyperconnect the world”. Until very recently, it wasgoed not clear precisely what ICX did, but January 30th spotted the publication of the ICON whitepaper, which certainly caused a few raised eyebrows.
What the whitepaper says
Essentially, ICON is framed spil a blockchain of blockchains. Te the ecosystem of ICS, communities like hospitals, universities and banks can begin their own blockchains. All blockchains operating under ICX will be autonomous from each other, but will connect to the mundial ICX blockchain system – the ‘ICON Nexus’ – via specific knots that facilitate liaisons inbetween the autonomous blockchains and the Nexus.
This is made possible by loopchain technology incorporated te ICON. This permits community-created, custom-made blockchains to be made via a multi-channel treatment. Thesis are individualised by way of brainy contracts that align with the precies utility and speed requirements of an individual community. This blockchain implementation is very potent, permitting near-instantaneous transactions that could scale 9,000 TPS.
ICON stands out from the competition due to the actualities and capabilities of its network. Many other projects are programma and developing for massive, widespread use, with aims to penetrate major industries, but ICON offers a blockchain protocol that is already ready to be scaled for general adoption and is already te use among many businesses, institutions and industries.
Spil thesis existing ICON users expand their networks and cryptocurrency usage, it is likely that other businesses and industries will be attracted. However ICON’s current market cap of around $Two.7 billion may seem big, the potential it shows could see its future rival the likes of NEO or even Ethereum.