What is ICON?
ICX is the cryptocurrency of ICON, a cryptocurrency protocol with the ambition to 'link crypto to the real world and move our society closer to its hyperconnectivity'. ICX’s main agenda is to achieve this goal by linking and enabling validated transactions between independent blockchains. The company's primary strategy towards this goal is by employing its own consensus method. Another objective of this company is to create a cryptocurrency-based drivers licensing system through Decentralised Identity Technology (DID). The current available system stores all the drivers license data on a central server vulnerable to cyberattacks. But ICON will ensure that system is stored in a decentralised fashion, making it impenetrable by hackers and scammers. ICX was sold during the ICO and was later migrated to the mainnet in 2018. ICON views itself to be governed in the same way as an indirect democracy. To do this, ICON employs channels and incentives to align node and user votes.