Question 1

What's the current price of ICON (ICX)?

Accepted Answer

As of today, the price for one ICON (ICX) is LTC 0.00070244. In the last 24 hours, the price has increased by +1.01%.

Question 2

What exactly is ICON (ICX)?

Accepted Answer

ICON (ICX) is a decentralized network that allows different blockchains to interact with one another. The ICON project's goal is to establish a global network that can bring multiple blockchains together, allowing them to work in unison. This interoperability enables the sharing of information and transactions between independent chains without intermediaries.

Question 3

Who created ICON (ICX)?

Accepted Answer

ICON was created by the Dayli Financial Group, a South Korean company. According to the ICON foundation website, the team consists of dedicated blockchain experts and developers who share the vision of interconnecting all the world's different blockchain networks.

Question 4

How does ICON (ICX) work?

Accepted Answer

ICON operates on its native blockchain called loopchain. It employs a consensus mechanism known as delegated proof-of-contribution (DPoC), which offers a dynamic method for block verification. The ICON protocol also creates blockchain communities that consist of different nodes (or entities) that follow a single consensus protocol.

Question 5

What makes ICON unique?

Accepted Answer

The unique factor about ICON is its goal of "hyperconnecting the world" by providing a platform where every blockchain can interact, regardless of its design or protocol. Another distinguishing feature is its consensus algorithm - DPoC, which encourages participation from network members by recognizing and rewarding contributions.

Question 6

How much ICON (ICX) is there in circulation?

Accepted Answer

The circulating supply of ICON (ICX) is 1.1B, while its total supply is capped at 1.1B. This limit ensures the scarcity of ICX, a fundamental economic principle that can potentially enhance its value over time.

Question 7

How is the ICON network secured?

Accepted Answer

The ICON Network is secured by a consensus mechanism called Delegated Proof-of-Contribution (DPoC). In this system, ICX holders vote for validators, known as Public Representatives (P-Reps). These P-Reps run nodes that validate transactions, propose policy changes, and maintain the network's health.

Question 8

Where can you buy ICON (ICX)?

Accepted Answer

ICON (ICX) can be purchased on several cryptocurrency exchanges. The specific platforms carrying ICX can change, so it's important to check current listings. As of now, the list of exchanges where you can buy ICX includes Binance, Binance US, Huobi.

Question 9

How can you keep your ICON (ICX) secure?

Accepted Answer

You should always take steps to keep your cryptocurrency secure. Some recommended practices include using hardware wallets for storage, enabling two-factor authentication on all associated accounts, and regularly updating your wallet software. It's also crucial not to share sensitive information with anyone, as this can potentially make you a target for hackers.

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