Following the buzz around Decentralized Finance (DeFi) and the release of several DeFi projects, blockchain technology and network framework, Icon (ICX) has recorded impressive results in their recent update announcement.

Some of these achievements from Icon (ICX) include:

  • About 57% of the cryptocurrency circulating supply has been staked, compared to 38.4% at the end of 2019.
  • There is now less than 240 million of ICX available in the market, this is the least proportion ever recorded.
  • A P-Rep team also self-delegated about 10 million ICX at once. The ICON Foundation reportedly didn’t take part in the process.

More updates from the project are below –

Proposal to build ICON’s Contribution Proposal System (CPS)

There are four P-Rep groups that want to build ICON’s Contribution Proposal System (CPS) and have submitted a request. They are ICONVIET, ICONDAO, iBriz-ICONOsphere, and Everstake.

The decision to build the CPS is important because as the ICON network grows, more teams will be needed to build and manage the core technology elements. The network will also be stronger as it becomes less dependent on a single entity for development (e.g. ICONLOOP). To choose the team that will build the CPS, a voting system has been put in place.

Icon’s WalletX platform

The blockchain technology framework recently announced plans for a new application. The application is named WalletX, it is a highly technical platform that is more than a wallet.

Besides, the platform allows connected dApps to get in touch with users and provide an experience like a normal mobile app. Some added features include fingerprint login, native notification, and simplified wallet addresses.

South Korea’s Shinhan Bank partners ICON for KYC confirmations

Based on reports, ICON’s technology arm, ICONLOOP has announced a new partnership with Shinhan Bank.

The partnership brings the opportunity of helping South Koreans use ICON’s app to open bank accounts remotely, and still meet KYC requirements of providing a compliance certificate.

About ICON (ICX)

Icon (ICX) was founded in 2017 by the Icon Foundation, an organization based in South Korea. In 2017, Icon carried out an initial coin offering (ICO) for Icon’s cryptocurrency, ICX, which raised 150,000 ETH (about $43 million) in a sale that included 50 percent of Icon’s token supply.

Icon reportedly plans to create a decentralized network of networks powered by cryptocurrencies. In other words, their goal is to establish a “digital nation” where different economic players can issue and control their own forms of value, using rules they choose.

As at the time of writing, Icon price was $0.543862 with a 24-hour trading volume of $52,686,649. ICX price is up by 45.1% in the last 30 days. The cryptocurrency also has a circulating supply of 560 Million coins and a max supply of 800 Million coins.

For regular updates on cryptocurrency projects follow the Altcoin Buzz YouTube channel.


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