Confidence in Icon (ICX) increases as the team improves their communication with the community

Similarly to many market altcoins, ICON peaked on July 4th when one ICX went for $1.84/27430 satoshi. From that point onwards the currency switched onto a downwards channel which saw the price bottom out at $0.4968/8205 satoshi on the 14th of August. ICX started rising slowly from that point onwards.

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ICON Foundation recently confirmed their partnership with Portal Network, a platform whose goal is to provide its users with a suite of blockchain-based domain name services. As such, the service wants to enable easier access to smart-contract supported chains. In cooperation with Portal, ICON plans on creating ICONick, an ICON-based naming service that will rest on top of the ICON blockchain.

“The ICON Foundation is excited to collaborate on ICONick with Portal Network to enhance the user experience of the ICON platform by replacing complex wallet addresses with human-comprehensible names and allow both technical and non-technical users to easily deploy and use blockchain-related services. We believe that by implementing ICONick with the ICON platform, everyone within the ICON network will be able to easily interact with IPFS hashes, smart contracts, and wallet address, all of which enhance the growth of the ICON ecosystem.”

Another major update was the recently announced rebranding of the project’s corporate identity. The new rebrand means that the project has now created a clear distinction between ICONLOOP, its entity focused on designing private blockchain networks for institutional and government clients, and ICON, the entity focused on dApp development and creation of public blockchain infrastructure. Focusing on both the private and public blockchain development will enable ICON to better understand both industries and more easily create all-encompassing interoperability solutions for them.

Project’s development center went live on August 31st. Managed by De:Nexo, Icon Developers Portal (as its officially called) will serve as a hub for development resources, knowledge sharing and community updates/interaction. The portal currently contains complete ICONex wallets, Java/Python SDK’s, T-Bears (Python-based SCORE Development and Emulation Tool), with ICON Core, loopchain and Citizen Node software being classified as “in progress”. Other incoming updates include AWS Marketplace registration (Infrastructure for SCORE development) and Yellow Papers on ICON governance, IISS and the fee system.

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ICON was active in partnership/sponsorship area as well. ICONLOOP was selected by IMCLOUD as the blockchain technology consultant for ‘Building the Next Generation Election System based on Intelligence Information Technology’, commenced by Korea National Information Society Agency (NIA) and supervised by Korea National Election Commission (NEC). A partnership with CertiK was signed which will allow dApp projects to submit their SCORE’s (Smart Contract on Reliable Environment) for almost instant, automated smart contract audit. An MoU was signed between ICON and W-Foundation, a nonprofit organization for environmental preservation and refugee relief. This partnership will aim to deploy ICON technology to the W Foundations W Green Pay, a blockchain-based compensation system that rewards individual greenhouse gas mitigation efforts with a real-life payment instrument.

ICON foundation will be sponsoring several major events, including ‘Cultivating Innovative Youth Talents 2018’ program (supervised by Korea Ministry of Science and ICT (MSIT) and Korea Institute for Information & communications Technology Promotion (IITP)). The project will last from September 2018 to February 2019 and will include ICONLOOP offering a 6-month, 1,000 hours long, intensive curriculum for students who are majoring in information security and multimedia education at Baekseok University. In addition, 25 students selected for the ‘Blockchain Specialist Training Course’ will be liaised with ICONLOOP for employment. If the project turns out to be a success, ICON plans on running it again in 2019.

ICON keeps bringing positive updates and has started improving their community interaction as of late, which has resulted in the overall outlook of this currency improving. This project seems to be well on its way of fulfilling its goal of becoming the one to “hyper-connect the world”. Once more details about the loopchain and the ICON Core are revealed, we should know more about ICON’s ability to stand as the main building block of future blockchain interoperability.

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