Well most of you might have already heard about ICON. If not, it is one of the blockchain projects from South Korea. South Korea is among the proactive countries to introduce new technology and it had also been nominated as world's most innovative country by the Bloomberg Innovation Index for 6 consecutive years. Originating from a country as such, ICON has been among the popular blockchains that is futuristic and might eventually be adopted by many in the future. The reason is its features like decentralization and Interoperability. There was a time when silicon valley used to be a hub for startups. But Blockchain have overthrown this concept with the help of decentralization. ICON has been following the basic fundamentals of a blockchain project which makes it something to look upto for investors and innovators in Blockchain Space.
With the teams from various parts of the world taking part in the governance, I as a blockchain enthusiast have been getting to witness a paradigm shift in the blockchain ecosystem. From small investors to whale, most of them seem to be proactive about the growth of the ecosystem. Most of the teams have been working on various projects to help the growth of ICON. Foundation itself and some Public Representatives have been trying to onboard more and more innovators with various grant proposal as well. So in my view ICON is doing pretty good for now. But I have also seen some projects that didnt do well while they started like ICON. The most important thing in blockchain seems to be following the fundamentals of Blockchain and sticking to the core principle. A fun fact, they have even been named as the ethereum of South Korea which brings more challenge for ICON in the eye of everyone involved. The use of smart contracts has made it possible for creating DApps with ease and the number of transactions everyday is increasing in the ecosystem. The other feature about them that I find interesting is the interoperability. They plan to create a nation where every blockchain gets to interact with each other. They have been working on this for sometime now and I hope they release it in the near future. After its release this project might be a game changer.
Hope you had a good time reading this piece. It has been sometime that I have entered into this ecosystem and I find it very interesting. I am open to your suggestions on which new projects I should look at. I will try to bring more blogs on my experience in blockchain ecosystem.