Price prediction Icon 2021

Icon Price Prediction for 2021 till 2025 | Forecast & Targets Icon

ICON (ICX) is a decentralized blockchain network that focuses on interoperability. With ICON’s blockchain transmission protocol, other networks can connect and perform transactions with each other. This ensures that different blockchain networks can use each other because ICON is in between. It is an extra layer that blockchain networks can link together. Thanks to their crypto token ICX, Icon also offers the possibility for smart contracts, just like a network like Ethereum .

The ICON network is powered by its own blockchain called Loopchain, which has the power to perform hundreds of transactions per second , where everything is transparent. This allows assets to be moved and data to be shared, for example. The bigger goal for ICON is to link more blockchains thanks to BTP technology, so that more blockchains can use each other’s network and benefit from benefits.

Icon price – The price of Icon

The Icon Token (ICX) experienced explosive growth following its launch in October 2017 and its initial value of $ 0.5 quickly rose to an all-time high of $ 12.64 in January 2018. But in the months that followed, the value fell back below initial value. Since then, the price has remained relatively stable, but this does not necessarily mean bad news. With a low unit price, a small price fluctuation can quickly double your capital, and if the ICX ever tries to climb back to its all time high, there is still a huge profit to be made! 

Scalability

Icon’s goal is to connect different cryptocurrencies and other communities. A community is a network of nodes under a specific system such as Bitcoin, Ethereum and other cryptocurrencies. But also banks, hospitals and schools fall under communities. 

The Icon Republic serves as the center of Icon blockchain operations and manages the process of adding new ICX to the blockchain. 

Reliability and speed: the loop chain

Icon uses the loop chain to connect the various communities that are part of the Icon Republic. Each community blockchain is connected to the Icon Republic by the community representative. The rules with which these independent blockchains work together are established in the Blockchain Transmission Protocol (BTP) 

The process is similar to other delegated proof-of-stake (DPoS) algorithms. Loopchain allocates nodes to blocks that are added to the blockchain and distributes these blocks to other network nodes. Validation nodes confirm the creation of this block and the associated data. The big difference from the traditional DPoS system is that Icon greatly reduces the number of steps required for the consensus process, which also benefits the speed.