Home Finance News Why is the ICON Network Powerful?

Why is the ICON Network Powerful?

Icon network

ICON is a decentralized aggregator network that facilitates interoperability. Aggregators are a web of interconnected networks, which aggregates all blockchain data into one layer.

The ICON network is powerful because it includes the Seoul Government, Samsung, LINE and the world’s largest corporations.

This is a new world where everyone builds and connects their own communities, that’s the world that ICON will create by empowering anyone to be able to connect to any blockchain so that people businesses and communities will be able to share their experiences in a transparent way.

Some of the key ICON use cases are Zzeung, VisitMe, Broof, Balanced, OMM, ICONFI, Bridge, ICON Bet, and Project Nebula.

Zzeung, a decentralized ID App using ICON Protocol; VisitMe, is a visitor management solution used by more than 200,000 users used by hotels, cafes, and public sites.

Broof, a certificate issuance app used by major universities and corporations; Balanced, a DeFi DAO which creates tokens pegged to real-world assets like stable coins; OMM is the DeFi money market where anyone will be able to lend, borrow assets, earn interest and own a share of the protocol; ICONFI is the staking and earn service for ICON community; Bridge is a payment service will allows people to interact with ICON Apps using email address and fiat currency; ICON Bet is a gaming DAO on ICON Protocol; Project Nebula is the NFT game of interstellar exploration.

ICON currently boasts of offering one of the highest rewards for blockchain staking. While staking, it is important to delegate to P-Reps that add value to the ICON ecosystem to ensure the growth of the network and the staked ICX.

For clarity, Public Representatives (P-Reps) are organizations or individuals that set up a validator node on the ICON ecosystem. The 22 P-Reps with the most votes become Main P-Reps that participate in on chain governance while those with less votes become Sub P-Reps who fill in for Main P-reps when their nodes go down.

There is a reward calculator using which users can calculate their staking rewards.  Enter the amount of ICX you stake in order to calculate your staking ROI. The reward rate depends on your ICX holdings and the % of the total network at stake. So keep in mind it will change over time. Their primary activities include creating and voting on network.

Myiconwallet is Official wallet for managing tokens on ICON Network. Easily vote and get rewarded.


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Steven Anderson

Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9

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