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ICON- Project that belongs in the leagues of Ethereum and NEO

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ICON project has been surprisingly under the radar for some time now.  This became evident when Bloomberg reporter asks Pantera’s CEO during an interview “what is ICON?”

While there are 100s of articles explaining what ICON is, QRIP group being a big fan of ICON, it made logical sense for us to write a comprehensive review on ICON.

What makes ICON different?

ICON is the blockchain platform developed by theloop. Unlike other blockchain platforms, ICON does not want to compete or replace any existing blockchain technology.  Rather, ICON aims to build a network of blockchains with ICON platform acting as connecting link.

There are no conditions or rules imposed on other blockchains to use ICON’s native currency, ICX.  Projects are free to use whatever medium of cryptocurrency they want to use.  ICON wants to be the facilitator of an unbroken and widely spread out blockchain ecosystem that not only connects various blockchain technologies but also connects various industries.

To learn about ICON and why it is a big deal in the crypto space, we have to understand various aspects.

i) ICON Team and advisors

ii) Existing partnerships and collaborations

iii) Interoperability Alliance

iv) ICONex wallet

v) ICONest – ICO Platform

vi) DeBlock – An Incubator program that aims to launch (and support) 300 new DApps on ICON network

vii) ICONick

viii) IISS (ICON Incentive Scoring System)

Let us dissect each aspect in detail to understand ICON better.

i) ICON Team

From the get go, ICON team has been talk of the crypto-space.  Until ICON introduced their ICO, crypto-space was used to 3 to 5 member projects.  ICON is different.   They have dedicated teams of blockchain developers, blockchain department for businesses, AI specialists, design, communications and security.

What sets this team apart from any other big team is that they were already working on blockchain for businesses for 2 years before getting into ICO.

NEO ICON team

NEO ICON

Their advisory group is made up of Dan Tapscott and others.  Dan Tapscott is a visionary and author of Blockchain Revolution.  Dan’s son, Alex, is the founder of AION blockchain project which is part of interoperability alliance (we will discuss that later).

The strength of the ICON team, advisory board and their connections have helped them form strategic partnerships and this is key to ensuring the success of ICON and blockchain technology itself.  

ii) Existing partnerships and collaborations

ICON has one of the most impressive line-up of partnerships and collaborations.

  1. Korea Financial Investment Association (KOFIA), a network of 26 financial institutions with theloop as exclusive technology partner
  2. SBI-Ripple Asia, a joint venture between Ripple and SBI Holdings to facilitate cross-border transactions
  3. Woori bank, which plans to facilitate Govt. issued digital currency for Korea
  4. Kyobo Life Insurance to facilitate automatic insurance payouts on the blockchain
  5. HealthCare consortium with major hospitals including University Medical Center, Severance Hospital and Gacheon University Gil Medical Center
  6. U-Coin (University Coin) with Korea University, Sogang University and Sohang University of Science and Technology
  7. Pantera Capital is an investment firm focused exclusively on ventures, tokens, and projects related to blockchain tech, cryptocurrency, and crypto assets.
  8. Kenetic Capital is an Hong Kong-based investor in online and offline blockchain communities since 2014. Fosters growth of innovative blockchain business models
  9. Token as a service (taas) is the last-generation tokenized closed-end fund actively contributing to the development of the blockchain ecosystem
  10. Coinsilium provides seed capital to developers of blockchain technology and fintech businesses. Coinsilium engages in partnerships with industry leaders in the smart contract and token space
  11. CM Crypto Capital (CMCC) is one of the leading blockchain focused investment funds with presence in Hong Kong and Toronto
  12. Mind Fund is a venture capital company that was established to provide hands on support and investment to entrepreneurs and innovators at all stages of their development from Start-up to an Initial Public Offering
  13. Hashed is a network of South Korean blockchain industry professionals; partnership of engineers, investors, attorneys, and business developers
  14. Crypto Bazaar is one of the largest blockchain communties in Russian-speaking countries (top blockchain developers, largest events, industry media network, venture crypto fund investing in ICOs)
  15. MOU between theloop & Cyberdigm and Raonsecure
  16. MME is a professional business advisory firm for Swiss legal and tax issues
  17. MOU with E4Net.net, a company with 20 years experience in banking and card companies space
  18. Partnership with Japan’s first crypto fund B-Cryptos which is backed by B Dash Venture Capital and Japan’s leading crypto exchange Quoine.

If above list seems long, you will notice that it does not cover all from looking at this picture summary (Spec-Rationility creation, check their site for a great overview).

NEO ICON Blockchain platform

Apart from above, ICON has also entered into MOU with AD4th and Nonghyup Bank.  Most importantly ICON entered into a strategic partnership with Kyber Network “to closely work together to help employ scalable protocol of KyberNetwork’s token exchange services and interconnect with other blockchains participating in the ICON network.”

Ironically, two collaborations (E4net and B-Cryptos) were announced during the time we were putting this article together.  That is just a testament at the speed at which ICON is spreading its wings.

iii)  Interoperability Alliance

ICON wants to be the blockchain network of blockchains of the world.  It cannot achieve this goal without help.  Forming interoperability alliance with AION and Wanchain, both successful in their own right, was part of giving shape to the long-term goals of ICON project.

AION will form the connecting bridge between blockchains with a focus on Western world while Wanchain will help transfer of digital assets across multiple blockchain platforms.

As there is no restriction or condition to using ICON currency, Wanchain will help transfer digital assets across multiple blockchain platforms that form part of ICON network.

iv) ICONex wallet

“ICONex is ICON’s Wallet supporting ICX and various cryptocurrencies.  ICONex boasts faster transactions, secure payments, and liquid exchange across multiple cryptocurrencies with user-friendly UX and UI.”

ICON has set aside tokens specifically for the use of ICON’s DEx platform.  DEx are going to be vital part of crypto space in future to facilitate trust and security.

v) ICONest – ICO Platform

ICONest is the ICO platform of ICON project which provides platform to launch your own DApp projects.  The platform boasts features like whitelist, refund/unlock and contribution cap.  The first DApp, Blue Whale, is launching on ICONest and allows for users to participate in the ICO using ICON and Ethereum.

Below ICOs are already confirmed:

  • Sentinel Protocol:   Sentinel Protocol can be described as security intelligence platform for blockchain (SIPB), this includes a wide variety of security features, from anti-theft, malformed transaction prevention, unknown threat prevention, transaction traceability etc.
  • Blue Whale: Blue Whale is building a decentralized ecosystem for the sharing economy on the blockchain, tackling several key downsides of traditional sharing economy.
  • SmileGate Stove: SmileGate’s objective is to develop timeless-classic games that can be enjoyed by any generation and to continually expand our business to allow greater audience to experience all that Smilegate has to offer.
  • Tink: is a an application that lets your friends add credence to your social profile.
  • Silk Road: is a platform that supports transparent history  management and purchasing by reforming the semiconductor supply chain and SCM into a blockchain-based decentralized system.
  • UPPSALA: is a Security Intelligence Platform for Blockchain (SIPB) which aims to overcome the disadvantage of decentralization by turning it into an advantage of security.
  • AD4th: is a decentralized advertising platform with real-time P2P reward system.

In addition, Nucleus Vision that facilitates IoT based contactless identification system for retailers and customers has also joined forces with ICON.

As more and more DApps are built on ICON, we will see synergies that will propel the demand for ICON tokens and its technology.

Check their platform view, it is just as simple as it is beautiful.

vi) DeBlock – An Incubator program that aims to launch (and support) 300 new DApps on ICON network

ICON and AD4TH  joined hands to form the DeBlock.  Deblock’s mission is to discover and nurture entrepreneurs and great talent. Deblock supports various projects to develop new breeds of decentralized applications running on ICON. Deblock’s entrepreneurs will get full support from ICON Foundation to co-build global-scale projects.

vii) ICONick

ICONick is a convenient ‘wallet ID’ used in the ICON network.  Use your own unique nickname to replace the long and complicated default wallet address to conveniently transfer or exchange ICX.

Article Begins

You may be surprised to see that the article actually begins after so much scrolling.  Yes, it reflects just how big ICON is (and will be in future).  It took us this long just to describe what ICON has accomplished so far since it’s ICO that happened only 7 months back.

Do not just skim through that paragraph.  Read it again.

  • ICONs team is amazing.
  • ICONs partnerships are outstanding.
  • ICONs interoperability alliance speaks of long term vision.
  • ICONs ICO platform is going to change the landscape, initially in South Korea and then elsewhere in the days to come.
  • ICONs DeBlock initiative is going to create a wave of innovations and crazy ideas taking shape in real world which will help boost a new wave of jobs in the blockchain industry and wide range acceptance of ICON platform.

Perhaps, ICONs greatest strength doesn’t lie in its strengths at all.  It is in its humble approach to the market.  They could declare that they are the greatest blockchain companies with real world business blockchains currently running (which is true) and try to capture the market that way.  But the path they have chosen is the one that not only enables ICON for wide acceptance but it also helps other blockchain projects and thus enabling the adoption of blockchain technology in the mainstream.

Price action

Crypto space is at its infancy.  People still fall for ‘promise’ rather than ‘execution’.  For example, right at this time there are projects that promise 700,000 to million or more transactions per second (TPS).  TPS is the current buzz word in crypto space.

What good is TPS going to do if you have zero business connections? Zero adoption?  Zero long-term vision?  And a below average team to execute on the project?

If you google alternatives to ‘word processor’ you will find many options, some better than MS Word but we all know what businesses use.  It is a similar story with blockchain platforms.  You might have million TPS and lightning speed, but if there is no business adoption of the said technology, you will eventually be wiped out.

Reason for this is simple, running a business is very hard.  Creating hype on the other hand is very easy, in the short-term.

Because people in crypto space are still learning the difference between a high that comes from short-term hype to long-term success, ICON has been lagging in price action compared to its more hyped purported competition.

As the title of this article suggests, ICON will be in the leagues of Ethereum and NEO.  It took Ethereum good number of years before it broke the ceiling.   NEO was a similar story.

When more and more partnerships ensue, ICOs start launching on ICON platform, more exchange additions (Bittrex/Quoine, etc.) take place, DeBlock projects start taking shape and more blockchains join the alliance of interoperability and when South Korea realizes the potential of its own home grown mammoth, these events, in no particular order, are going to act as catalyst in pushing ICON into top 10 space of market cap.

We are confident that before the end of this year, ICON will break its own all-time highs and set new records.

Future of ICON

If ICON forges ahead like the way they have been so far, there is no stopping their success.  We will be watching ICON closely, and you should too if you are interested in a quality project that has potential to be around in the next decade.

Update 1: May 10th: MOU with aSSIST, this furthers the nexus of ICON in the Universities (education industry) space

Update 2: May 11th: “MOU with Samsung Electronics to incorporate CHAIN ID in Samsung’s ‘Samsung Pass’ service.”

Whitepaper: https://icon.foundation/resources/whitepaper/ICON-Whitepaper-EN-Draft.pdf

Buy upto price: Available at QRIP.  Access FB group to view.

The HODL period:  Available at QRIP.  Access FB group to view.

Anticipated gains: Available at QRIP. Access FB group to view.

CryptoTapas is an initiative of creators of QRIP group.  QRIP group is FREE to join.

Do your own research before investing. Crypto space is very volatile, don’t invest more than what you can afford to lose.  Opinion, not an advice.

Stay in touch with us at: | |

Sources:

NOTE: We have borrowed some of the descriptions of projects from official sources. All sources are included below.

https://icon.foundation/contents/team/partners?lang=en

https://medium.com/helloiconworld/icon-partners-with-kybernetwork-a135e91af327

https://medium.com/helloiconworld/icon-annual-summit-the-genesis-a-quick-summary-448d3e5d7016

http://spec-rationality.com/icon/

http://dapps.icon.support/

http://www.deblock.co.kr/

https://icon.foundation/contents/icon/iconick?lang=en

 

CryptoSpace

Crypto Roundup: All Your YouTube Influencers in One Place

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Crypto Roundup

Visit our Crypto Roundup section daily for a dose of all your favorite Crypto YouTube influencers in one place.    

Worried about missing updates from your favorite YouTube crypto influencers?  

Welcome to the Crypto Roundup.  

On this page, we will post a quick summary of the videos from some of the most popular YouTube crypto influencers.

Ivan on Tech  Altcoin Daily

Crypto Zombie Box Mining

Ellio Trades Lark Davis

Data Dash Bitboy Crypto

MMCrypto Chico Crypto

Altcoin Daily

Video title: Bitcoin Will Be OVER $20,000 By Christmas 2020! BIGGEST WEALTH SHIFT OF OUR LIFETIME! Cryptocurrency

Date: 19-Nov-20

  • World’s biggest wealth shift of our lifetime is happening right now and no mainstream media is talking about it, except CNBC.

  • Preston Pysh predicted on August 26th that: “Bitcoin should be reaching its all time high by Christmas.”

  • If you are looking to buy a dip, there may not be one.
  • Ricardo Salinas Pliego, a mexican billionaire, has just revealed that 10% of his liquid assets are into bitcoin.

Lark Davis

Video Title: STOCKS HIT NEW HIGHS! WILL COVID VACCINES LEAD TO MEGA PUMP IN 2021? [Are You Ready?]

Date: 19-Nov-2020

  • Stock markets and bitcoin pumps higher on the news of the second successful covid vaccine.
  • There could be more chances for the new stimulus. Means more inflation, more debt and simultaneously pumps stocks, gold and bitcoin.

Crypto Zombie

Video Title: BITCOIN $18.5k TOP!!?! DON’T BE FOOLED!! HODL FOMO BEGINS!!! $TRILLIONS FLOOD!!

Date: 18-Nov-2020

  • Overall sentiment of Bitcoin has changed drastically from ICO craze in 2017 to a time where people are FOMOing to own more bitcoin.

Ivan on tech 

Video Title: BIG WARNING TO ALL HODLERS!!!!!!!!! DO NOT GET REKT!!! BITCOIN $18,500 REJECTED – NOW WHAT?

Date: 18-Nov-2020

  • Ivan expects bitcoin to shoot past $20K resistance before end of this year, giving it 85% probability

Chico Crypto

Video Title: World’s Most Powerful Turn BULLISH on BITCOIN

Date: 19-Nov-2020

  • All those who hold big bags of Bitcoin will come out of the shadows to talk up the Bitcoin rally, a $20K bitcoin could be on the cards before the end of this year
  • Ethereum mining could act as a big catalyst for Ethereum’s price
  • Big companies like google could play a bigger role in mass adoption of crypto

Let the FOMO begin…

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

Continue Reading

CryptoSpace

Lessons from the Veteran HODLERS to the Newbies!

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Lessons in Crypto

For all those who entered the crypto market after the 2017 bull run – here are few lessons from the HODLERS from the last bull run(s).

This is our attempt at making all you newbies aware of the mistakes veteran cryptoers did.

Let’s get started…

Don’t FOMO in to all the hype

FomoIt’s hard not to FOMO in crypto.  The trick is to make sure you don’t lose your shirt in crazy bets.  Always limit your bets to what you are comfortable losing.

The common ways you can become victim of FOMO are:

  • Following your favorite YouTuber without actually doing your own research on the project.
  • Investing into projects at the top.
  • Believing in promises of 100x or 1000x without any substance behind those claims.

HODLing far too long

Remember why you are into crypto – to make the money.

Never fall in love with your crypto, and HODL the tokens even when they are 10x and more.

Have a strategy to take your capital out before you become a HODLer.  

If you believe the project really has what it takes to go beyond 100x and more, just sell in instalments so as to not miss the ride.

One of the best ways to HODL is to take your capital in full and profit in tranches.

This rekt story will give you a right perspective of what it looks like, it’s one of many:

Don’t put all your eggs in one basket

Never go all in on one project. No matter how strong the project may look, even the projects with strong fundamentals don’t do well sometimes. 

And, you will be kicking yourself watching other projects go up and your portfolio just doesn’t seem to make a move.

And don’t over do it and have a portfolio with over 100 projects either. It is very difficult not to have invested in more than 15 projects but anything less than 20 is a good way to go, in our opinion. 

Put aside the share of Profits for Taxes.

One way you can get a good night’s sleep is by paying taxes. 

Always keep a habit of putting aside a % of your profits in USDT or other stable coins, as a reserve to take advantage of market volatility and also to meet your tax obligations. 

Exchanges are more evil during bull run

Foreign ExchangesDon’t trust exchanges. Yes we already know that, but they play more games during bullrun, some intentional and some technical. 

Many exchanges tend to go under maintenance when the prices shoot up too high too soon (Coinbase?), and you can’t sell. 

And the shady exchanges scam out before you know.

Regulators seem interested when the market cap of these projects goes through the roof, which then adds FUD around the project crashing the prices.  

Exchange may freeze funds pending investigations when such issues arise.

Take for example OKEx. Users are unable to withdraw their assets from the exchange for almost a month now, not certain if they ever will, and all that started with the legal dispute.

Never fall for Arbitrage gains

Arbitrage is when you buy in one exchange at a lower rate and sell on the other for a higher rate to take some profits. 

Some shady exchanges show a lot higher prices than the other genuine exchanges and when you deposit your assets to sell at those prices there won’t be actual volume to execute the trade. You may be stuck with either a high fee for withdrawal or other funky rules to take your own money out. 

Remember, there is no free Giveaway

Free CryptoScammers rise with the rising market.  

When the crypto market buzzes with all time highs – scammers cash in big time on newbies.

The most lucrative scam in crypto is ‘Free Giveaway’. Whether it be through YouYube ads or discussion groups and wherever they can get your attention.  Read this article on various sophisticated scams that are being deployed.

We hope these lessons help you through your trades and crypto life.  Stay safe and always DYOR.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

 

Continue Reading

CryptoSpace

Crypto Roundup: All Your YouTube Influencers in One Place

Published

on

crypto news

Visit our Crypto Roundup section daily for a dose of all your favorite Crypto YouTube influencers in one place.    

Worried about missing updates from your favorite YouTube crypto influencers?  

Welcome to the Crypto Roundup.  

On this page, we will post a quick summary of the videos from some of the most popular YouTube crypto influencers.

Ivan on Tech  Altcoin Daily

Crypto Zombie Box Mining

Ellio Trades Lark Davis

Data Dash Bitboy Crypto

MMCrypto Chico Crypto

Altcoin Daily

Video title: The United States Just Brought Bitcoin into the National Conversation!! | Cryptocurrency in 2021

Date: 16-Nov-20

  • Former National Treasurer and the new US Senator Elected, Cynthia Lummis, said Bitcoin fits the bill as a good store of value as it is finite and limited, unlike the inflationary fiat currency.

  • Grayscale adds over 7000 more bitcoin in just the last 24 hours.
  • Just over 16% ETH staked for ETH 2.0 launch on Dec 2 2020.
  • Bitcoin Cash hard fork takes place tomorrow.

Crypto Zombie

Video Title: WARNING!!! BITCOIN 2017 BEAR FRACTAL RETURNS!!! BTC WORST CASE SCENARIO…

Date: 14-Nov-2020

  • Institutional money starts flowing into bitcoin.

  • Paypal goes live with its crypto trading platform for eligible customers. They have also raised the buying limits from the initially set $10,000 to $20,000 per week.
  • DIA, an DeFI Oracle provider, integrates with Polkadot.

Ivan on tech 

Video Title: BITCOIN WILL DO SOMETHING INSANE THIS WEEK!!!! -30% DUMP AHEAD vs $20,000 PARTY – Programmer

Date: 16-Nov-2020

  • Bitcoin could make a big move this week, either hit 20K or we may see a 20% to 30% drop
  • Chainlink partners with Etherisc to deliver agricultural insurance in Kenya.

Ellio Trades

Video Title: UNLOCKING $100 TRILLION? This low cap gem seeks to bridge CeFi and DeFi

Date: 15-Nov-2020

  • DeFI could be similar to the ICO craze in 2017
  • Low cap gem: AllianceBlock
  • AllianceBlock is bridging the gap between DeFi and CeFi
  • AllianceBlock Partnership with Orion Protocol and Chainlink.

Chico Crypto

Video Title: WARNING! An “EVIL” Entity Wants Control of BITCOIN…

Date: 15-Nov-2020

https://www.youtube.com/watch?v=45Ac-5y2ofg

  • 90% of Bitcoin’s mining pools are controlled by China based mining pools
  • As the value of bitcoin goes up – there is a threat of push to ‘control’ the network from China
  • Binance is looking to push through the 50% mining share and Chico believes this could be dangerous

Visit our Crypto Roundup section daily for a dose of all your favorite Crypto YouTube influencers in one place. 

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

Continue Reading

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