ICON (blockchain platform)

ICON is a decentralized, open-source blockchain with smart contract functionality. ICX is the native cryptocurrency of the platform.

ICX
CodeICX
Development
Original author(s)Min Kim
Initial releaseJanuary 2018
Development statusActive
Developer(s)ICON Foundation
Websitehttps://icon.foundation
Ledger
Timestamping schemeDelegated proof-of-stake
Block time2 seconds
Block explorerhttps://tracker.icon.community/
Circulating supply920,176,392 (April 2021)
Valuation
Exchange rateUS$0.76 (April 2022)
Market capUS$698,597,916 (April 2022)

History

Founding

ICON was founded in 2017 by Min Kim of the Switzerland-based ICON Foundation.[1][2] As outlined in the ICON white paper, the vision for ICON was "to introduce a new era of decentralization" with an ultimate goal to "hyperconnect Korea, Asia, and then eventually, the world".[3]

Launch

ICON's initial coin offering (ICO) in September 2017 raised 150,000 ETH (approximately US$43 million).[4] This was identified as the most successful Korean ICO to date.[5]

ICON has the support of various public and private organizations, including the Seoul Metropolitan Government in South Korea, and the Line Corporation in Japan.[6]

ICON 2.0

In November 2021, ICON 2.0 was launched.[7] Changes included improved performance, Java smart contract support, and preparation for future interoperability via the Blockchain Transmission Protocol (BTP).[8]

Prior to the 2.0 update, Yahoo Finance identified ICON as one of the top-10 interoperability cryptocurrencies.[9]

See also

References
  1. Hong, Min-ki (2019-06-12). "[실리콘밸리 한인 기업 열전] 현실생활에 사용되는 블록체인 세계화 아이콘 재단 창업자 민 킴". The Korea Times (in Kanuri). Retrieved 2022-01-16.{{cite web}}: CS1 maint: url-status (link)
  2. "ICON". Investopedia. Retrieved 2022-01-16.
  3. "Whitepaper". ICON Foundation. Retrieved 2022-01-16.{{cite web}}: CS1 maint: url-status (link)
  4. "What is Icon? (ICX): The Beginner's Guide". Kraken. Retrieved 2022-01-16.{{cite web}}: CS1 maint: url-status (link)
  5. "Korean Blockchain Startup ICON Foundation Hyperconnects the World". Seoulz. 2021-01-21. Retrieved 2022-01-16.
  6. Ji-young, Sohn (2018-05-15). "Line Plus forms new JV 'Unchain' with blockchain platform Icon". The Korea Herald. Retrieved 2022-01-18.
  7. "ICON Development Roadmap Update — November 2021". Medium. 2021-12-02. Retrieved 2022-01-18.{{cite web}}: CS1 maint: url-status (link)
  8. "ICON commits $200M to interoperability incentive fund". Entrepreneur News. 2022-01-14. Retrieved 2022-01-16.
  9. Jain, Aman (2021-08-14). "These Are The Top Ten Interoperability Cryptocurrencies". Yahoo Finance. Retrieved 2022-01-16.{{cite web}}: CS1 maint: url-status (link)
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