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What is ICON?
The Icon Foundation manages the Icon network and token platform. The ICX token is a real-time payments protocol that uses the blockchain to help power quick transaction outcomes. The token is a loopchain-based smart contract with a digital protocol that both facilitates and verifies negotiated agreements between parties. It is similar to Ethereum Smart Contract technology.
Why the big fuss?
ICON ‘s ICX token is a smart contract-based token managed by the ICON Foundation, a Swiss-based non-profit. The advantages of ICON are:
- The token’s slogan, hyperconnect the world, is a nod to the power and speed of the ICON token system and the decentralised structure that underpins the technology.
- ICON is designed to be purposeful for consumers in their daily lives – bringing blockchain to the masses.
- Icon’s decentralization is also a big draw to the cryptocurrency. The foundation managing ICON haven’t followed the Ripple standard. This means the blockchain and the token are much freer.
What can I buy with ICON?
Icon’s ICX has a lot of potential. However, the relative youthfulness of the technology means they are only just starting to develop pilot projects with partners. There is a lot of potential but there needs to be a strong use case from partners. They are starting to partner with Universities to create a scholarly research blockchain in which ICX would be a payment token for the platform.
Where can I buy, sell or trade ICON?
We recommend you buy, sell or trade ICON at a trusted broker. Our favourite is at the top of this page. You can read our reviews of the top brokers here.