ICON is a platform that aims to make it easier for independent blockchains to communicate. A community is described as a network of nodes that follow a single governance system on the ICON platform.
ICON aspires to be a kind of blockchain hub or linking point. The company is filling a high demand in the rapidly increasing field of blockchain technology. However, the fact that each blockchain group has its own network is one of the barriers to widespread adoption of blockchain technology. ICON can reduce the number of middlemen and eliminate barriers to cross-border contacts by confirming transactions on its decentralized ledger. The company focuses on decentralized identification, blockchain payments, decentralized finance, NFT, and other use cases.
ICX is the basic currency unit of the ICON Network. The functionality of ICX underpins the essential economic operations that take place on the ICON Network. The ICON Network uses ICX as a medium of exchange.
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