ICON Releases Review of Accomplishments for Quarter Three 2018

A Review of ICON Accomplishments in the Third Quarter of 2018

ICON, a project that focuses on building one of the largest decentralized networks in the world, has recently taken a look at its journey during its third quarter of 2018. In particular, a tweet by the ICON team made on Wednesday, October 3rd, notes that they’ve endured challenges, most of which have resulted in success. The tweet went as follows:


In addition to the tweet, the team has also given a complete breakdown on the areas in which ICON has seen progress. The following will provide crypto fanatics and the ICON community a quick look at the said improvements. In doing so, users will have a better understanding as to how far ICON has gotten into attaining their main goal, as mentioned earlier on in this post.

1. Loopchain Use Cases

Loopchain has been dubbed as ICON’s core blockchain engine. The reason for counting this as an accomplishment is because of the acknowledgement it has attained. In particular, the ICON team shared that it has been recognized by entities like the “Seoul Metropolitan Government, Korea National Election Commission (NEC), and Korea Federation of Micro Enterprise (KFME).”

Some of the real life uses that comes out of Loopchain has been described as being able to contribute to, “mobile voting, used car trading, voting and ballot counting systems and for a program called the Digital Plaza for Small Business.” Moving forward, the team has plans to tailor the blockchain engine to support services for banks, insurance companies and other financial services.

2. MOU/Partnership

The next accomplishment is in relation to coming up with much more use-cases of its respective blockchain. The team seems to highly value each of the partnerships it has secured, as it takes them a step closer to attaining their goal of creating the largest decentralized network in the world. Some of the said partnerships include that of the SK Planet, W Foundation, CertiK and Portal Network, with the first two having already having signed Memorandums of Understanding (MOUs).

3. Ecosystem

ICON prides itself in being able to support blockchain startups and development ecosystems. In order to help said entities, ICON has since launched its ICX Station, which allow all ICON Dapps to go global, and Developers Portal, an open source “hub for information sharing among developers” for those exact reasons.

Furthermore, in terms of the team’s goal of helping find talent within the crypto sphere, its ICONLOOP has since been part of the “Cultivating Innovative Youth Talents of 2018”. Moving forward, the team wants to place more emphasis on support and educational programs.

4. Development

Some the accomplishments made in enhancing the overall ICON ecosystem in the third quarter alone include updates made to its MainNet version 3.0, release of its TestNet and GitHub open-source, announcement made in regard to its Yellow Paper, and updates made to ICON’s Score, ICONex and Tracker. Other progresses include updates made to its policy papers to keep its community motivated and lastly, technological improvements to its Incentives Scoring System (ISS) and ICONest.

5. Event

Lastly, their contribution in bringing a community of investors, educators and acquirers cannot go unnamed, as the team has supposedly “sponsored and participated in various blockchain conferences and events,” some of which include:

  • Korea Blockchain Week
  • Blockchain Seoul
  • Upbit Developer Conference
  • Pycon
  • De-Ference
  • SW Convergence Hackathon
  • The Wall

Clearly, the ICON team doesn’t simply stop at valuing the ICON ecosystem and its overall development, as they also view their contributions to community growth, education, and fresh talent as immense progress. This only goes to show that they are truly closer to their overall goal than ever before. In particular, their attention to every single spec of the blockchain sector and how it can be applied to society in the most effective and convenient manner is what gives them competitive edge.

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