ICON (ICX) Blockchain Platform - ICO Review, Rating and Details of ICON ICO (Token Sale) - Rating: Not Rated

The ICON Project aims to build a decentralized network that allows independent blockchains with different governances to transact with one another without intermediaries. Anyone can create a new blockchain project and join the network. A new blockchain project is free to connect with existing projects and create new unique worlds, or blockchain multiverse. ICON itself can be viewed as both a living organism and an ecosystem.

Problems & Solutions

The advent of the blockchain technology has introduced the world of decentralization and is challenging our preconceived perspectives of the current social, political, and economic systems, most notably, the central banking system. The rapid advancement of this technology has begun to blend world borders and statute, providing glimpses of an improved, alternative future. Yet, the technology is still at its infancy and is confronted with limitations in terms of performance, ease of use, and service quality.

Generally, the majority of blockchain projects place emphasis on their decentralization methodology and lack evidence of adoption in the real world due to their technological and business limitations.The ICON Project aims to overcome such challenges and help advance our society towards true hyperconnectivity. 

The vision of the ICON Project is to redefine the meaning of communities, and in doing so, introduce an era of decentralization. They envision creating a new world by connecting such communities. Communities today are commonly defined by its social and political functions and limited to the economic boundaries set forth by nation states. Through ICON, communities can go beyond and be free from traditional economic system and promote frictionless value exchanges with other communities, eventually resulting in maximum total utility of society. ICON is not limited to the real world, but it directly connects and communicates with the crypto world creating the most robust network that can scale without limits.

The ICON Project aims to build a decentralized network that allows independent blockchains with different governances to transact with one another without intermediaries. Anyone can create a new blockchain project and join the network. A new blockchain project is free to connect with existing projects and create new unique worlds, or blockchain multiverse. ICON itself can be viewed as both a living organism and an ecosystem.

Features & Highlights

  • Consensus - LFT (Loop Fault Tolerance) is an enhanced BFT (Byzantine Fault Tolerance)xxvi-based algorithm that promotes faster consensus and ensures the finality of the consensus without the possibility of forks within the network. LFT supports faster consensus by creating a group among trusted nodes. LFT can accommodate diverse consensus structure by allowing such groups or nodes to freely determine the number of votes.

  • SCORE (Smart Contract On Reliable Environment) - SCORE is an enhanced Smart Contract feature of loopchain that ensures high-performance contracts to run directly in the node operation environment without a separate Virtual Machine (VM). SCORE is easily deployable and can be created for various applications as it runs separate from the underlying blockchain processes.

  • Multi-Channel - Multi-channel feature allows independent channels to be created within the same blockchain network and execute request, consensus, and Smart Contracts. Since the channel is established with only two business nodes, integrity and assurance are ensured on a channel-by-channel basis, and transaction data is held only by actual transaction parties.

  • Tiered System - Apart from the initial authentication process to participate in a blockchain network, each transaction is validated and secured through PKI-based authentication. loopchain can also set different access privileges to create nodes with specific functions (e.g. audit, supervision) to monitor certain transactions, if necessary, without participating in the actual transaction.

Token Allocation

"Fundraiser","Foundation","Community group & Strategy Partners","Team, Advisors & Early contributors","Reserve" {"name": "Fundraiser","value": 50},{"name": "Foundation","value": 14},{"name": "Community group & Strategy Partners","value": 10},{"name": "Team, Advisors & Early contributors","value": 10},{"name": "Reserve","value": 16}

Token Utility & Use Cases

ICX is a cryptocurrency that can be used for real-time payments and also as a protocol for connecting the blockchain world.

Team Members

  • Don Tapscott, Advisor. Don is one of the world’s leading authorities on innovation, media, and the economic and social impact of technology and advises business and government leaders around the world. He has authored or co-authored 15 widely read books all over the world, including the international best-seller Blockchain Revolution, which he co-authored with his son, Alex Tapscott. In 2015, Thinkers50 named Don as the 4th most important business thinker in the world. In 2017, he established The Blockchain Research Institute, the world's leading think-tank dedicated to understanding blockchain opportunities, challenges and use-cases.

  • Paul Veradittakit, Advisor. Paul is Partner at Pantera Capital leading blockchain investments. Prior to joining Pantera, he worked at Strive Capital as an Associate focusing on investments in the mobile space. Previously, he was at Hatch Consulting and LECG and performed business development and marketing for Urban Spoils, an early stage startup in the daily deal aggregation space. Paul graduated from the University of California, Berkeley with a B.A. in Psychology and a B.A. in Political Science.

  • Jehan Chu, Advisor. Jehan is a former front-end developer with ten years’ experience in web and enterprise application development. He has been a cryptocurrency investor since 2013, with successful investments including Bitcoin, Ether, Litecoin, Melonport and acts as Advisor to the Melonport, QTUM and OpenANX. He founded the Ethereum HK community (2014), co-Founded the Bitcoin Association of Hong Kong (2014) and founded the Hyperledger HK community (2016). He was a partner with the KMA on the Blockchain: Surge event, and a Gerson Lehrman Group (GLG) Council Member. Jehan is a graduate of Johns Hopkins University and a Masters degree candidate at Hong Kong University (2017).

  • Jason Best, Advisor. Selected as one of the 10 most influential people in crowdfunding by Forbes.com, he is a contributor to TechCrunch and Venture Beat and a co-founder and principal of Crowdfund Capital Advisors (CCA). Recently, he was on the executive leadership team of Kinnser Software, ranked by Inc Magazine as one of the fastest growing private companies in the US.

  • Yiseul Cho, Advisor. Studied at MIT, worked for Facebook and run her own startup in Korea before moving to London. In London she set up a blockchain R&D lab which has worked with major card company, investment bank and remittance startup. From 2016, she works for HSBC as its 1st blockchain team focusing on blockchain data analytics. She also runs the biggest blockchain community group (1850 members) in London focusing on private blockchain technology, and works as partner at Blockchain angel investor group in Korea and specialized ICO marketing company for Korean market.

  • Simon Seojoon Kim, Advisor. Simon​ ​Kim​​ ​is​ ​a​ ​blockchain​ ​evangelist​ ​and investor.​ ​He​ ​is​ ​the​ ​co-founder​ ​of​ ​Knowre, a​ ​startup​ ​that​ ​was​ ​named​ ​one​ ​of​ ​the​ ​top 10​ ​innovative​ ​AI​ ​math​ ​education companies​ ​by​ ​Fast​ ​Company. He​ ​has managed​ ​various​ ​projects​ ​for​ ​10​ ​years​ ​as a​ ​UX​ ​designer. Simon​ ​studied​ ​computer science​ ​and​ ​engineering​ ​at​ ​POSTECH University.

  • Eddy Travia, Advisor. Eddy Travia is a pioneer investor in blockchain technology startups and the CEO of Coinsilium, a London-based venture builder, accelerator and investor in early-stage blockchain technology companies (NEX:COIN). In July 2013, after several years in private equity in Greater China, Eddy co-founded Seedcoin, the world’s first global incubator of digital currency startups and, in May 2014, was named among the ‘Top three Most Influential Investors’ at the Blockchain Awards. Eddy has led early-stage investments in 17 blockchain companies around the world. He also regulary delivers keynote speeches on blockchain and advises corporates and financial regulators.

  • Ismail Malik, Advisor. He has over 20 years experience in Technology related startups and entrepreneurship covering Asset Management, Cryptocurrencies, Mobile Payments in the City of London and Emerging Markets working with leading firms such as Vodafone, Cellnet and News International. He was the founder of the world’s first Blockchain Lab and first ‘DLT’ company within Level 39 in Canary Wharf (world’s largest Fintech accelerator).

Partnership Overview

  • BIA - 'BIA(Blockchain Interoperability Alliance)' functions as a linkage between independent blockchain networks. ICON, AION, and Wanchain, as the leading parties in this alliance, have collaborated their efforts and have shared their research for a common goal of developing inter-operational standards for interchain network and protocol architectures.

  • icon.community - icon.community is a strategic community of the ICON project, currently focused on the P-Rep election campaign. The community will collaborate with the ICON Foundation throughout the entire ICONSENSUS campaign.

  • Pantera Capital - Pantera Capital is an investment firm focused exclusively on ventures, tokens, and projects related to blockchain tech, cryptocurrency, and crypto assets.

  • Kenetic Capital - Hong Kong-based investor in online and offline blockchain communities since 2014. Fosters growth of innovative blockchain business models.

  • Token-as-a-Service - The last-generation tokenized closed-end fund actively contributing to the development of the blockchain ecosystem.

  • Coinsilium - Provides seed capital to developers of blockchain technology and fintech businesses. Coinsilium engages in partnerships with industry leaders in the smart contract and token space.

  • CM Crypto Capital - CMCC is one of the leading blockchain focused investment funds with presence in Hong Kong and Toronto.

  • MIND FUND - Venture capital company that was established to provide hands on support and investment to entrepreneurs and innovators at all stages of their development from Start-up to an Initial Public Offering.

  • Hashed - Network of South Korean blockchain industry professionals; partnership of engineers, investors, attorneys, and business developers. The group aims to place Korean businesses at the forefront of blockchain developments worldwide.

  • CryptoBazar - CryptoBazar is one of the largest blockchain communties in Russian-speaking countries (top blockchain developers, largest events, industry media network, venture crypto fund investing in ICOs).

  • CertiK - CertiK is a smart contract auditing firm with a patented technique to automate formal verification of smart contracts.

  • Portal Network - Portal Network has been building Blockchain Name Service (BNS) standards governed by smart contracts in an effort to simplify the user experience on all smart contract supported chains.

  • LayerX - LayerX is a joint venture between news curation app, Gunosy, and advisory service, AnyPay. It is Japan’s leading blockchain company and provides blockchain related services, including integration for enterprise, smart contract audit, consulting and R&D.

  • MME - Professional business advisory firm for Swiss legal and tax issues. Supports entry to and growth of foreign businesses in Switzerland. Consultants at MME are experts in developing time-efficient custom solutions to international investors.

Social Media Links

Twitter Updates

  • Great turnout for our @SteemNetwork <> @helloiconworld meetup! Look forward to collaborating again soon 🙌… https://t.co/WOaKH6dDNi
  • A busy month in the books. But A LOT of progress. Please check out our latest roadmap update for October (with inf… https://t.co/6EngpfW6sY
  • We (ICON Foundation) are registered as P-rep! #ICONproject #decentralization #newdigitalrepublic https://t.co/kcUCzduegw
  • We're pleased to announce that our next meetup at the ICON Lounge will be on November 5th. We'll be hosting… https://t.co/UcYYbygrJJ
  • Attn: Seoul-based ICONists... Please come check out @Dr_ICON_Lee discussing DPoC and the P-Rep election at the Hash… https://t.co/ANpEANszGH
  • “Our partnership with ICONLOOP has been instrumental in driving the success of the ICON Project. Solving digital id… https://t.co/bRW3TqOvPo
  • ICON Foundation is Excited to Announce its Participation in the 'Money 20/20 USA' Event “This is going to be a per… https://t.co/owAIhIxsX9
  • We’re pleased to share the following updates to our tech roadmap. Key highlights below: Block Version 0.3 for BTP… https://t.co/dw13U1JKge