Decentralization And Staking’s Popularity Is On The Rise – ICON Progresses In Its Quest For Hyperconnecting The World
ICON (ICX) made headlines recently due to the fact that the fresh project was able to outperform Bitcoin and more big assets.
ICON is a project that has been born during the crazy ICO hype from back in 2017.
This project aims to become a smart-contract and smart-economy platform – this is a sort of ecosystem for projects and companies to live within. Long story short, ICON plans to connect the world in a decentralized manner.
More analysts are claiming that the decentralized systems will take over the world in the future.
ICON Incentives Scoring System
Back in 2019, the team launched the new IISS — ICON Incentives Scoring System.
It’s important to highlight the fact that all decentralized projects have to include a set of tools that will easily allow a community of members to take part in the consensus.
The incentives model includes more details on the penalty system, a new ICX issuance system that allows ICX to be burned during nigh network activity. also, there’s a change in the transaction fee policy as well.
A 2019 Coinrivet post revealed the most important features and you should check out the article to learn all the details about them.
They involve the ICX holders’ ability to participate in elections, all the details about the ICX Issuance System, and penalties for P-Reps.
It’s also worth noting that one of ICON’s most important partners is Chainlink – the partnership emerged at the beginning of 2020.
Chainlkin managed to convince ICON of its decentralized Oracle technology.
The project will be using Chainlink to integrate off-chain data into ICON’s public blockchain.
Anyway, in terms of pricing, ICON is currently trading in the green and at the moment of writing this article, ICX is priced at $0.34271. It’s almost 3% up in the past 24 hours.
ICON is now sitting on CMC’s 42nd spot.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.