Know all about ICON (ICX) crypto and its advantages

Highlights

• Despite tensions across the global crypto market, ICON crypto is faring well.
• It uses the delegated proof-of-stake mechanism and offers high security and lesser fees as compared to its peers.
• The token is available on several exchanges like Binance, Kraken, etc.

The ongoing Russia-Ukraine conflict is causing a considerable impact on the cryptocurrency market. A 4.82% decline is seen across the global crypto market over the previous day, which now stands at US$1.74 trillion at the time of writing.

However, few cryptos are not affected by geopolitical tensions. One such crypto is ICON, which has gained by 42.81% in the last 24 hours and is currently trading at US$ 0.939254.

Do Read: Wanchain, Waves- 2 most popular cryptos this week at Easy Crypto

Source: © Vladsseven | Megapixl.com

Also Read: What is Centcex crypto and why has it soared to an all-time high?

What is ICON crypto?

Launched by South Korea-based Min Kim, ICON's platform aims to facilitate independent blockchain interactions, also referred to as communities. ICON network intends to develop an interoperable blockchain network integrating autonomous online communities and real-world enterprises.

In simpler words, the ICON network aspires to set a platform where businesses from diverse sectors like finance, insurance, healthcare, commerce, education, security, etc., can interact and carry out transactions on a single platform.

Further, its structure can reduce the number of intermediaries as it verifies transactions on its decentralised Ledger and its native coin is known as ICX.

Currently, there are around 734 million ICX coins in circulation, while its maximum supply is not known.

What are the benefits of ICON?

The ICON platform possesses many benefits, thus making enterprises integrate this blockchain tech into their processes. Some of them are enumerated below:

• interoperability offered by ICON saves both time and efforts of developers.
• The platform uses a delegated-proof-of-stake, i.e., DPoS consensus mechanism, which provides scalability as compared to top cryptos like Ethereum. As a result, ICON’s network offers high security, responsiveness, and lesser fees than its peers.
• Further, the protocol is loaded with developer resources, which provide its users to design more diverse Dapps, thereby leveraging the finest aspects from multiple blockchains to provide an outstanding user experience.
• Moreover, ICON’s platform focuses on various use cases in the South Korean market; for instance, its technology is used for securing medical records and accelerating claims and payments in the insurance industry as well as helps in issuing and storing digital certificates and providing verification services to numerous South Korean universities.

Must Read: Does Kraken crypto exchange operate in NZ?

Where to buy ICON crypto from?

The crypto is available on many leading crypto exchanges across the world. Some of them include Binance, Kraken, FTX, BitStamp, Gate.io., etc.

Bottom Line

Crypto investments, however tempting, must be made with utmost cautiousness as crypto markets are marked by risk and volatility.

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