What is ICX
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What is ICX?
ICX coin is an internal cryptocurrency that is used to perform operations on the ICON network. It is similar to Ethereum since most of the calculations in the ICON network are carried out using ICX.
Daily Financial Group is a Korean company engaged in financial innovation and technology. She founded the ICON project. The development took about two years. The founders strive to unite all spheres of human life into one largest decentralized network operating in all corners of the world and allowing everyone to participate and receive convenient service.
The developers of the ICON project are focused on providing users with the opportunity to interact on different blockchains. To do this, developers use complex smart contracts. They want the project to become a bridge connecting many spheres of life. The team calls it “ICON Republic.”
ICON Republic runs on the Nexus blockchain, which combines other blockchains. Together, they are called ICON Republic communities. At the same time, ICON cannot control the operation of small blockchains. Each of them is independent and has its own internal rules. The ecosystem has a “City Node” through which users connect to the network. Such nodes provide users with the opportunity to work with various decentralized applications within the ecosystem. There is also an internal exchange that operates based on the ICON platform and allows you to exchange cryptocurrencies within the network.
ICX Price
The ICX token began trading at the end of October 2017 for $0.0477; two months later, the rate soared to $12.19. A correction followed this up to $0.12. The exchange rate of the coin is volatile, and you can track the value online on the WhiteBit exchange.
Prospects for the ICX coin
The implementation of the ICON network goes far beyond the scope of cryptocurrency exchange services. It is assumed that the project will be used in medicine, securities, insurance, banking, and education. This is how developers see the future application of their brainchild in different spheres of human activity.
- Cans
Representatives of the ICON project plan to establish beneficial partnerships within a year so that the system turns into a global banking landscape that provides digital payments between users.
- Securities
The company aims to apply its technologies in the field of clearing and accounting in 2021.
- Universities
The company is developing intelligent vending machines so that students can perform operations and transactions at universities.
- Insurance
The ICON “loop chain” technology is already used by several insurance companies.
- Medicine
Blockchain will allow medical institutions to exchange patient data and store sorted information, contributing to a more accessible and convenient management system.
If the company manages to achieve its goals, it will combine all spheres of human life into one comprehensive platform running on the blockchain. In this case, the ICON cryptocurrency (ICX ticker) can theoretically demonstrate stable growth against the background of widespread recognition and acceptance that the company may receive in the future.
How to buy ICX?
It is easy to buy an ICX token:
- Log in to your account on the WhiteBit exchange or register if you don’t have an account yet;
- Go to the “Trade” tab;
- Select a cryptocurrency from the provided list;
- Create an order.
Considering that you already have an account, buying ICX cryptocurrency will take a couple of minutes.
FAQ
It is convenient to convert ICX cryptocurrency to WhiteBIT. To do this, go to the "Trade" section, select a pair and make an exchange.
The minimum purchase amount on the WhiteBIT exchange:
- 5.05 USD, USDT;
- 4.20 EUR;
- 0.0001 BTC.
ICX rate is volatile; to find out the actual value, follow this link.
