About ICON (ICX)weiss-badge
 

Overview

ICON (ICX) is a decrentalised platform enabling communities to connect and share various services through their network, focusing on communities that were previously isolated. ICON recognises that communities are comprised of reputable institutions such as banks, securities, insurance, hospitals, universities and more. Because of this ICON concentrates on using blockchain ID to unite these institutions to reduce inefficiencies. ICON has now released a convenient wallet ID named 'ICONick,' which allows users create unique usernames, conveniently accepted as wallet addresses rather than long, winding strings of characters.

Technology

ICON uses Blockchain ID's through smart contracts to verify the user and open new accounts. It promises efficient scalability as ICON services are compatible with traditional blockchains (such as Bitcoin and Ethereum) while remaining entirely decentralised allowing different governance structures to connect and interact. ICON highlights the need for using technology that can apply to building real-world applications for real communities. In December 2017 ICON formed BIA (Blockchain Interoperability Alliance), designed to connect independent blockchain networks. Through the Blockchain Interoperability Alliance ICON, AION, and Wanchain collaborate their efforts and resources towards the goal of developing inter-operational standards for interchain network and protocol architectures.

Future Focus

ICON wants to redefine the meaning of communities, while at the same time introducing a 'new era' or decentralisation. They believe social and political functions define communities, which are limited to the economic boundaries. ICON aims to build a frictionless exchange of information within communities, leaving a society that maximises utility effortlessly. For more information regarding ICON visit the official site or glance at their Whitepaper.

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

POLI - internet banking

POLI is secure and fast. It links directly to your internet banking – login with your normal details and the rest is easy. No extra fees or surcharges. Watch this short video to see how it works.

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Storing your coins with Wallets

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

Pay with POLI. Its fast!

POLI - internet bankingPOLI is secure and fast. It links directly to your internet banking – login with your normal details and the rest is easy. No extra fees or surcharges. Watch this short video to see how it works.

About Bitcoin

Bitcoin (BTC) is a form of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. Transactions are stored on a distributed, immutable, online, public ledger known as a blockchain. Bitcoin was the first truly decentralised cryptocurrency which was created by a programmer under the pseudonym Satoshi Nakamoto and was released in 2009. The system is peer-to-peer, verified by network nodes and recorded in a public distributed ledger called the blockchain. Bitcoin can be exchanged for other currencies, products, and services with over 100,000 merchants and vendors accepting bitcoin as payment. Bitcoin can also be held as an investment. There are only a fixed number of Bitcoin will ever be mined (21 million), it’s not controlled by any one government or central bank, and there’s no such thing as quantitative easing or fractional reserve banking. These qualities make Bitcoin excellent as a store of value and a long-term safe-haven asset, similar to gold.

A Bitcoin success story that went viral on social media is Kristoffer Koch from Norway. Koch invested around $27 in Bitcoin in 2009 and then forgot about it for four years. He remembered about his Bitcoin wallet in 2013, which had then grown in value to $886,000.

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Due to the price of sending and sourcing BTC the minimum order is $500.00.

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