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ICON (blockchain platform)
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|
| Denominations | |
|---|---|
| Code | ICX |
| Development | |
| Original author | Min Kim |
| Initial release | January 2018 |
| Development status | Active |
| Developer(s) | ICON Foundation, ICONLOOP |
| Ledger | |
| Timestamping scheme | Delegated proof-of-stake |
| Block time | 2 seconds |
| Block explorer | https://tracker.icon.community/ |
| Website | |
| Website | https://icon.foundation |
ICON is a decentralized, open-source blockchain with smart contract functionality. ICX is the native cryptocurrency of the platform.
History
[edit]ICON was founded in 2017 by Min Kim of the Switzerland-based ICON Foundation.[1][2] According to the official ICON white paper, the purpose for ICON was to introduce a new era of decentralization and hyper connect Korea.[3]
ICON's initial coin offering (ICO) in September 2017 raised 150,000 ETH (approximately US$43 million at the time).[4]
At the time of launch, ICON was supported by various public and private organizations, including the Seoul Metropolitan Government in South Korea, and the Line Corporation in Japan.[5]
Applications
[edit]Decentralized finance
[edit]Decentralized finance (DeFi) is a use case of ICON.[6] It offers traditional financial instruments in a decentralized architecture, outside of companies' and governments' control, such as money market funds which let users earn interest.[7] Decentralized finance applications can be accessed through a Web3-enabled browser extension or application, which allows users to directly interact with the ICON blockchain through a website.[8] Many of these decentralized applications (also known as dapps) can connect and work together to create complex financial services.[9]
Non-fungible tokens (NFTs)
[edit]ICON allows for the creation of non-fungible tokens (NFTs).[10] Since tokens of this type are unique, they have been used to represent such things as collectibles, digital art, sports memorabilia, virtual real estate, and items within games.[11] Land, buildings, and avatars in blockchain-based virtual worlds can also be bought and sold as NFTs.[12]
See also
[edit]References
[edit]- ^ Hong, Min-ki (2019-06-12). "[실리콘밸리 한인 기업 열전] 현실생활에 사용되는 블록체인 세계화 아이콘 재단 창업자 민 킴". The Korea Times (in Korean). Retrieved 2022-01-16.
- ^ "ICON". Investopedia. Retrieved 2022-01-16.
- ^ Ramirez, Elaine. "Could This Blockchain In Korea Be The First To Connect An Entire Country?". Forbes. Retrieved 2024-05-13.
- ^ "What is Icon? (ICX): The Beginner's Guide". Kraken. Retrieved 2022-01-16.
- ^ Ji-young, Sohn (2018-05-15). "Line Plus forms new JV 'Unchain' with blockchain platform Icon". The Korea Herald. Retrieved 2022-01-18.
- ^ Kim, Min (2021-12-04). "ICON (ICX): A Deep Dive Into Its Enterprise Use Cases". Gemini. Retrieved 2022-01-16.
- ^ Kauflin, Jeff. "Why Everyone In Crypto Is Talking About DeFi". Forbes. Retrieved 2022-01-16.
- ^ "How to invest in cryptocurrency: A beginner's guide to Omm". Omm blog. 2021-12-07. Retrieved 2022-01-16.
- ^ Kharif, Olga (2021-12-01). "Why 'DeFi' Utopia Would Be Finance Without Financiers: QuickTake". Bloomberg. Retrieved 2022-01-16.
- ^ "Focus on NFTs and interoperability pushes Icon (ICX) higher". Crypto Rating. 2021-04-02. Retrieved 2022-01-16.
- ^ Browne, Ryan (2021-02-25). "Crypto collectibles are selling for thousands — and celebrities like Mark Cuban are cashing in". CNBC. Retrieved 2022-01-16.
- ^ Howcroft, Elizabeth (2021-04-19). "The 'metaverse' bet: crypto-rich investors snap up virtual real estate". Reuters. Retrieved 2022-01-16.
