Blockchain Investor Analysis

ICON

ICX
Current Price $0.53 (+8.3%)
ICON is a platform that aims to enable different blockchains to interact with one another via smart contracts to "hyperconnect the world." The ICX token is a utility token used on the ICON network.

Our Rating:

Market

Problem that it solves

ICON can help business develop blockchain solutions that can interact with other blockchain networks.

Customers

Companies that have to engage with several different industries in order to carry out their daily business could use ICX to streamline their processes.

Value creation

Owning ICX gives holders the ability to access the ICON network.

Market structure

ICON's market is small and still emerging.

Market size

The market for cross-chain solutions is still tiny but has the potential to grow substantially in the future.

Regulatory risks

The ICON Project is primarily a connection service, so it's unlikely that it will grab the attention of regulators.

Average Market Score

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Competitive Advantage

Technology/blockchain platform

ICON's blockchain was built from the ground up.

Lead time advantage

The notion of a unifying hub for both organizations and individual blockchains gives ICON lead time advantage in a very new and niche market.

Contacts and networks

Much of ICON's team hails from the Dayli Financial Group, as opposed to other branches of the digital asset tree. They are relatively insular in this way, which limits their access to key players in the market.

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Management Team

Entrepreneurial Team

ICON's team's list of successes outside of their current project is pretty short. However, some of the members, like Min Kim and Ricky Dodds, have had some success at Deutsche Bank.

Industry/technical experience

Since ICON has been in the digital asset sphere since 2017, its team has clocked a substantial amount of 'experience hours.'

Integrity

The team behind ICON has dodged a lot of the mud-slinging that sometimes dirties new projects. Their operation and motives seem above reproach, so far.

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Token Mechanics

Token required

ICX is a utility token that is required to interact with the ICON network.

Value added

Owning ICX gives you the ability to engage with others who have signed onto the network.

Decentralized

ICON isn't very decentralized because much of the voting power is held by just a few P-Representatives. If they were to collude, they could control the project.

Token supply

The total supply of ICX is capped at 800,460,000.

Public exchange

ICX can be traded on exchanges like Binance, Okex, Huobi and Velic.

MVP

ICON launched its mainnet in 2018.

Average Token Mechanics Score

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User Adoption

Technical difficulty

For users to give ICON a second glance, they would have to be convinced they have a problem and then understand how ICON helps solve it. This two-step process is no easy feat.

Halo Effect

ICON's halo effect is limited—if there at all. It has a great idea, but few blue chip associations.

Buzz

The buzz around ICON is largely fueled by some of its main players posting to networks. However, it is nowhere near the buzz of other, more established projects.

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Overall Score

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Blockchain Investor Analysis

ICON's concept has a certain pie in the sky tone to it. The idea of "hyperconnectivity" has long been welcomed by many industries. ICON is not the first to present the idea. But the widespread adoption of hyperconnectivity has been slow, if not stagnant. Robert Frost observed that "good fences make good neighbors," and perhaps this is why ICON's project hasn't gained as much momentum as the idea would seem to earn it.

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