ICONLOOP is a tech firm that’s based in Seoul, and the company is specialized in the design and implementation of the blockchain technology.

They managed to develop their very own engine, loopchain, and a massive range of services are based on it.

The public blockchain network, ICON is a project of ICONLOOP and it’s important to note the fact that ICON is not owned by it, nobody owns it.

It’s important to note these things because there are various confusions that people keep making about these two entities.

ICONLOOP makes a big announcement

ICONLOOP had an important announcement to make on Twitter and you can check it out below.

The company announced a few days ago that they will be joining the project that’s led by the Institute of Information & Communications Technology Planning & Evaluation (IITP) – this is a publicly operated ICT research and development institution.

“The project IITP focuses on developing privacy protection technology to help in the use of DID in 5G service environments, as well as security technology for digital ID wallets and for managing digital IDs for multi domains,” according tot he official notes.

TheIcon.Ist continues and notes that “ICONLOOP is tasked with developing technology for an integrated DID interface that can help share DIDs across blockchain platforms and a prototype to issue and use credentials.”

We recommend that you check out the complete post in order to learn all the details.

ICON gains popularity

ICON has been making headlines a lot lately after more crypto analysts highlighted reasons for which ICX is becoming one of the crypto lovers’ darling these days.

Now, ICON enthusiasts are expecting to see more surges in the price of their favorite coin.

At the moment of writing this article, ICX is trading in the red and the con is priced at $0.339641.

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