ICON (ICX): a blockchain network aiming to unite communities

ICON, a blockchain technology company from South Korea, is creating a decentralized network of blockchain communities that can freely transact with each other.

The ICON Blockchain

ICON is basically a giant network of networks that plans to connect them all instantly using a shared central ledger and the ICX token. Anyone can set up a “Community” or DAPP (Decentralized Application) on the ICON Network and freely interact with the other Communities and DAPPs.

icon token

ICON is focused on real world applications, something many other digital currencies (a.k.a. shitcoins) lacks.Image result for shitcoinIf a health insurance company submits a payment to a hospital on the ICON Network, the transaction would be overseen by the ICON Blockchain and paid in $ICX.

Alternatively, it could be automatically paid in some other currency using ICON’s decentralized exchange (“DEX”) to switch one currency for another on the fly.


ICON already has strategic partnerships with banks, hospitals, insurance companies, and universities in place to take these theoretical capabilities into the real world, giving the project an apparent leg up on most of its competitors.


ICON’s Global Outlook

No institution wants to compromise their autonomy for any of the advantages ICON provides, so ICON is built to ensure they don’t have to. Every Community and DAPP on ICON is independently managed, and free to choose their own currency, consensus algorithm, and other regulations.

A Bitcoin Community on the ICON network can still use Bitcoin within their Community but then switch to $ICX for transactions with other Communities on the network.

The freedom to define separate regulations for Communities also allows ICON to target the global market and be adapted to comply with regulations in different countries. Communities on ICON will follow their local regulations, with ICON simply acting as an inter-Community transaction facilitator.

The Numbers

The max supply of ICX tokens is 400,230,000. Half of those coins were sold in the ICO and the rest were distributed as follows:

  • 16 percent held in Reserve
  • 10 percent held by the ICON team, early contributors, and advisors
  • 10 percent held by strategic partners and community groups
  • 14 percent held by the ICON Foundation, the parent company of the project.


4.00 USD (-4.67%)
0.00046593 BTC




$1.53 B USD


$41.26 M USD


There is no mining with ICX, but the available supply may be increased in the future as a result of annual C-Rep meetings. Community Representatives from the various Communities on the ICON Network may authorize up to a 20% increase in the ICX supply per year, although they are under no obligation to do so.


ICON’s Other Advantages

ICON wallets have access to a Decentralized Exchange (DEX) that facilitates currency transfers and exchanges without relying on public exchanges such as Coinbase or Bittrex. Most major cryptocurrencies are already available.

icon crypto

The ICON blockchain uses a Loop Fault Tolerance (LFT) consensus algorithm. This is an enhanced version of the Byzantine Fault Tolerance (BFT) algorithm that enables faster transactions while eliminating forks in the blockchain. It allows nodes to form groups to determine how many votes each participant receives.

Growth Potential

The ICX token has great potential if it becomes the standard unit of exchange for even one major industry. For example, if Korean hospitals adopt it to manage transactions with insurance providers, those transactions alone would account for billions of dollars in annual transactions.


ICON’s developers are highly focused on the token’s practical use. The project is also led by an impressive team of advisors, including Don Tapscott (author Blockchain Revolution) and Jason Best (Forbes top 10 most influential, 2017).

ICON still has a long way yet to go, but it has legs to change the current business paradigm, one industry at a time.

Kucoin: The People’s Exchange

The cryptocurrency world is moving so fast, it can be challenging to keep up with.

One of the latest trends to keep on your radar is the rise of decentralized cryptocurrency exchanges. Binance is the first example, which plans to go fully decentralized in their road maps, recently became the largest cryptocurrency exchange in the world by volume. Kucoin has quickly risen to be the first major competitive threat to Binance, with more competitive incentives to promote user adoption. These decentralized exchanges are changing the landscape of what cryptocurrency is, and what it means for the future of global finance.

The cryptocurrency explosion has opened new markets and new business opportunities which have created an arms race of epic proportions. Cryptocurrency exchange platforms are in all out war to become the top exchange in the wild west.

Cryptocurrency trading platforms like Coinbase and Bittrex are in deep trouble. Recent US-tax regulations coupled with old-school thought process has these mammoth exchanges on the brink of panic. Users of these US-based exchanges have been overwhelmingly dissatisfied with their lack of privacy and also their tax reminders. If you are one of those people who have had a bad experience with coinbase in particular, check out this song about coinbase by Coindaddy, “Straight outta coinbase”

Exchanges like coinbase are more interested in profit and for this reason they have not been keeping up with the times – there is a serious movement towards incentivizing users to use exchange platforms.

The incentives offered by Binance and Kucoin come in two forms:

  1. Referral commissions paid out to users who bring in new users based on the trading fees the new users incur
  2. Discounts on trading fees when using the exchanges’ cryptocurrency, such as BNB (Binance coin) and KCS (Kucoin shares).

If you are jumping into cryptocurrency trading now, you are better off starting your journey with one of these newer, more innovative platforms.

Binance and Kucoin are completely shattering the competition and taking the lead as the dominant cryptocurrency exchange platforms. These platforms are investing their time and money into the cryptocurrency community, which is paying them back thousands of times over.

Because of this, the Kucoin cryptocurrency exchange is tied for my number one recommendation as the best cryptocurrency exchange for beginners.

Here’s why I love Kucoin…

  1. Kucoin Shares and profit sharing
  2. Access to a huge variety of cryptocurrency alt-coins
  3. Kucoin is currently accepting new members 

Numerous cryptocurrency exchanges have paused taking new members due to unprecedented demand and this means that it is becoming more challenging to enter the fascinating world of trading cryptocurrency.

Whether you want to jump on the crypto-train today or in six months time, I strongly recommend you to set up an account with Kucoin, and as soon as possible.

I believe that in the next 6 months Kucoin will share the throne with Binance as the top cryptocurrency exchange platform in the world and that at some point in the next few weeks, Kucoin will probably stop taking new members.

Yes, I have affiliate links in this post. But the biggest reason why I’m promoting Kucoin (which is one of the exchanges that I trade on myself) is that I 100% believe Kucoin is positioned to take over the cryptocurrency exchange market, and given its structure, early adaptors are the ones who are truly going to benefit.

Crucially, at some point, Kucoin will likely have to temporarily close its doors to new members.

If you are looking to start trading cryptocurrency on Kucoin, you can do so by following the link below.

The rest of this article will explain why Kucoin is revolutionizing the cryptocurrency market, why I think this particular exchange is primed to take over as the number one cryptocurrency exchange platform, and the step by step process of setting up an account. (The button below is my invitation code)

Up ↑