What is ICON (ICX) Coin
The ICON Cryptocurrency (ICX) is a cryptocurrency network that was launched in 2017 by a company based in South Korea. ICX is the associated cryptocurrency token or coin. ICON is actually a complete blockchain network, with the primary purpose of facilitating the connection and interaction of various blockchain software programs through the ICON network.
ICON coin aims to serve as a sort of a blockchain hub or a point of connection. The company is addressing an important need in the growing field of blockchain technology. One of the challenges for the widespread adoption of blockchain technology is that each separate blockchain community uses its own network. Therefore, the ability to connect the various separate networks is a major step forward in blockchain technology, which is increasingly being used as a more secure mechanism for the transfer and/or storage of all types of data.
One of ICON’s major projects is developing blockchain-based driver licenses through its Decentralized Identity (DID) technology. Under the current system, the drivers’ license information is all stored on a central server, leaving it vulnerable to security leaks through cyberattacks and hacking. ICON’s goal is to create a decentralized system where individuals can simply keep their authenticated personal information on their mobile phone or a similar device.
- ICON (ICX) is a blockchain with the goal of “connecting crypto to the real world and advancing our society towards true hyperconnectivity”. ICON aims to reach this goal by connecting independent blockchains and enabling transactions between them.
- To do this, ICON uses the self-developed Loop Fault Tolerance (LFT) consensus mechanism. Built on on the Byzantine Fault Tolerant (BFT) Tendermint mechanism, LFT improves it by increasing performance through a consolidation of network messages.
- ICON has a total supply of 800,460,000 token. During the ICO, an ERC-20 token, ICX, was sold, which was subsequently moved to the mainnet in June 2018.
- ICON considers itself to be governed alike to an indirect democracy. To this end, ICON makes use of representation channels, reserve channels and incentives to align the votes of nodes and users.
How To Buy ICON (ICX) Coin
1.Step: Everyone who is planning to invest in or benefit from the advantages of cryptocurrencies wonders the answer to Where to buy Icx coin question. First, you need an online wallet to buy cryptocurrencies. You need to sign up to Binance exchange from here, which is preferred globally to buy coins and you can buy coins with fiat currencies. You can quickly access many assets and trade types such as altcoins, future markets, and margin by creating a Binance account.
2.Step: Complete your registration by typing an email to the email section or typing your phone number on the section available on the mobile tab. Click/tap on the “Buy Crypto with Your Credit Card” option after the registration and verify your identity.
3.Step: Continue the process by typing the amount you would like to invest and your preferred cryptocurrency. Keep in mind that for security reasons, your credit card/debit cardholder information must match with the name available on your account. If you would like to buy cryptocurrencies with a wire transfer, you need to follow the Buy Crypto > Third-Party Payment options to pick your preferred fiat currency to buy cryptocurrencies.
4.Step: If the cryptocurrency you are planning to buy is not available on the list, buy USDT “You can always redeem 1 USDT Coin for US $1.00”. You can buy any coin you want with USDT by following Buy-Sell > Classic steps. We have provided the answer to How to buy Icon coin, now you can view the cryptocurrencies you bought by clicking on the wallet summary available on your Binance account. You can sell your assets when their value increases, or you can withdraw them to your bank account in desired fiat currency.
How Much is a ICON (ICX) Coin
ICON (ICX) coin prices are updated instantly in USD, Euro, Sterling currencies in the following table.
ICON (ICX) Coin Review
You can learn more about ICON (ICX) coin reviews and information on cryptocurrencies by visiting their official page available in the following.
Website https://icon.foundation/ Whitepaper https://icon.foundation/resources/whitepaper/ICON_Whitepaper_EN.pdf Github https://github.com/icon-project Medium https://medium.com/helloiconworld Telegram https://t.me/hello_iconworld