ICON ($ICX) to launch their own DEX and decentralized ID system


ICON recently announced that the company is preparing to launch its own decentralized exchange to give its IRC2 main net coins more liquidity.

On Friday, Jan. 18, the ICON platform team addressed its community through a Medium post, announcing its plans for the near future. Those include the enhancing of their strategy to increase the spread of its public DLT ecosystem. ICON also plans to improve its blockchain alliance program.

View their tweet below:

ICON intends to launch its own decentralized exchange (dex) as well as an identification system on its decentralized platform and ICON public network within the first two quarters of 2019.

ICON also launched a new partnership program by the name of Loopchain Alliance Program (ICON LAP100). Through this program, ICON is seeking companies to start partnerships with, considering those who specialize in B2C as well as B2B products. At present, the blockchain startup collaborates with over 30 companies in this area. Around 13 new partners have already joined ICON in 2019.

ICON already has a launch platform in Seoul working on the basis of Deblock VC firm, which is a major company for promoting dApp projects of South Korea around the world. Soon enough, ICON intends to set up a launchpad in Tokyo as well.

The company already has an operational wallet, ICONex, which works with various crypto coins. It also has ICON Tracker, which performs the functions of a block explorer for ICON and traces all records of transactions on the blockchain.

The new dex will allow customers to exchange ICX coins and IRC2 ones (ICON tokens based on its mainnet) on a p2p basis. All operations on it will be performed by means of smart contracts. Apart from that, the dex is expected to provide IRC2 coins extra liquidity without getting them listed on third-party exchanges.

The new DID system that ICON plans to launch will work on a mobile dApp and will allow users to store and use their personal data without the interference of modern centralized systems. It will also protect user data from falsification and duplication.

 


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Samuel Tan

Samuel Wan has been an analyst and cryptocurrency evangelist for the last few years. Previously he worked as a consultant for a Big 4 consulting firm and is passionate about how blockchain will make an impact in the world. You can contact Sam at s@cryptomenow.com

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