ICON (ICX) also known as "Korean Ethereum" is a blockchain network project. ICON, a cross-chain blockchain platform that connects various blockchains such as Bitcoin, Ethereum, and QTUM, is powered by a proprietary blockchain engine called the loop chain.

ICON's native token ICX has two main uses. Its primary purpose is to use it as a middleman cryptocurrency. ICX determines the exchange rate via DEX Reserve, allowing transactions between different cryptocurrencies. A second use case of ICX can be used for U-Coin, which is a DApp token developed by the ICON blockchain team for the Korea University Consortium and will serve many uses. ICX can also be used as a token like ERC-20 for an ICO platform.

According to CoinGecko data, ICON is valued at $2.65, increasing by 30% in 7 days and 10% in the last 24 hours. With a market cap of $1,733,834,137, ICON has a circulating supply of 674,616,599.

It is capable of performing hundreds of operations per second. The ICON project, which was initiated to ensure the integrity and transparency of data shared between institutions and companies, and to move common assets to heterogeneous blockchains without a central organization, aims to be a 'cross-chain' linking multiple blockchains based on BTP technology in the long term.

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What is the Purpose of ICON (ICX)?

The aim of the ICON Project is to introduce the new era of decentralization by redefining and connecting communities and creating a new world. Through ICON, communities can move away from the traditional economic system, be free and promote value exchanges with other communities, ultimately resulting in the community's maximum overall benefit. ICON is not limited to the real world, but directly connects with the cryptocurrency world.