Creating a Hyperconnect World, Loopchain-based ICON

Source: Steemit/briankang (View Original)
//Translated from Korean Language//
Hello, this is my first writing and I’m just a newbie starting to learn.
Today, I’m organizing a consortium session I’ve been to! I want to introduce theloop’s “Full Stack Self-Implementation Private Blockchain Solution” loopchain-based decentralized network called “ICON”.
I did not know much about the self-developed blockchain in Korea, so the ICON was very refreshing for me.

Q 1. What is ICON?
A: It is a decentralized network where various blockchain-based communities are connected.
Within this network, just as anyone can create APPs like in a smartphone environment, ICON defines an “ecosystem” where variety of blockchain projects can be created within the ICON network and connect to other blockchains to create a new super-connected world.

Q 2. How is it applied specifically?
A: It has already been connected with diverse communities such as domestic banks, securities, insurance, hospitals, e-commerce, etc., and can use DAPP services such as “blockchain ID” and “settlement and exchange” beyond specific community.
It is said that ICON can securely sign electronic signatures from other communities using IDs issued by securities companies, use coins paid by hospitals, and settle and exchange money.

Q 3. Use Cases?
A:
- Payment and exchange
ICON wallet (wallet) can apply DEX wallet for real-time remittance, settlement, exchange and can be used directly in real life through connection with “real world” such as bank, securities - Smart Contract
Block Chain ID allows secure integrated authentication and digital signatures in any real world connected to ICON.
Q 4. Features!
A:
- Convenience — There are various coins coming out in the real world, such as InsuExt, TenX, Polybius, etc., which allow you to use almost all convenience services beyond specific areas. We are expanding the application area of the blockchain to the real world. We are seeking the optimum condition of ICON Network expansion by applying DAVinCI domestic artificial intelligence technology!
- Extensibility — It is possible to interconnect block chains with various blockchains as well as bit chain cooperatives. It is possible to connect blockchains with the real world. Unlimited expansion by connecting different business areas. It truly embodies the “first connection” society of all spheres.
- Decentralization — ICON aims at the realization of a decentralized world, ICON is a decentralized network connected with an independent governance community. In other words, each of them can create a new DAPP with independent governance and join the decentralization system in the ICON Network.
Q 5. The roadmap?
Third quarter of 2017 (July ~ September)
- ICO Open! (See Homepage)
- Loopchain open source
- First developer half-finished (August 3 block chain consortium)
- Cooperation with major banks (partnerships)
4Q 2017 (October ~ December)
- ICX (ICON token) list
- Financial Investment Consortium: Blockchain Identity Service Open!
- U-Coin (digital money in university) pilot service opened: 3 universities
- Insurance: Blockchain-based Auto Claiming Pilot Service Open
- Partnership with major blockchain networks
Q1 2018
- Second Developer Meetup
- Expand DEX reserves for most major coins (extend DEX Wallet coverage)
- Expanded blockchain network partnership
Q3 2018
- Third Developer Meetup
- U-Coin Expansion: 10 Universities
- Financial investment consortium: launch of second service
Q 6. Token information such as token amount?
1 ETH: 2500 ICX

ETH Accepted Only.
Target value: 150,000ETH
Supply amount: 400,230,000 ICX

Token allocation:
50% — We, the raiders!
16% — Reserves (for maintenance?)
10% — Teams, Advisors, Initial investors
10% — Communities, Strategic partners
14% — Foundation, Fundraising

Fundraising purpose:
20% — Engine development, DAPP development, artificial intelligence development
20% — Reservation 1 (DEX implementation with ETH)
15% — Reservation 2 (DEX implementation with other blockchains)
12% — Operating expenses (accounting, legal advice, the cost of the first half)
8% marketing expenses (literally marketing)
15% — business development expenses (cost, base area office established, business expansion) for global expansion
10% — the cost for a strategic partner (using ICX expanding global business partners
Finally, my thoughts.
In fact, the blockchain is hot these days, so it can be said that the feeling of subdued (actually someone is saying) to implement all the services that can be done with advanced technology, but the blockchain is more convenient It is an essential and good technology to implement safely in the future, and various companies are already doing ICO for it, so I think it is cheerful for someone to collect them and offer them at once.
Even Korea is why I did not get it. Finally, I think Korea’s 4th industrial revolution is approaching. Even put artificial intelligence. It is even more hopeful that we have put together a self-developed agreement algorithm called LFT, not based on technologies like Etherium and HyperLedger.
Even 25 financial investors are partners and already pilot in each field.
It was too strange for me to be the first to be able to trade tokens freely without having to go through the exchange when the main net was launched in the fourth quarter of 2017! I am not familiar with it yet, so it’s hard to think about moving to the exchange or anything else, but I think it would be great if it was implemented successfully.

As the writing became longer, it was complicated in many ways.
To summarize the contents one more time
- ICON intends to implement a hyperconnected society
- Moving the blockchain to reality
- Insurance, finance, and everything is available as a blockchain!
- Our tokens are already applied differently than others!
- It will provide a much more diverse and stable system.
- 2500 ICX will be issued per ETH
- Through the Main Net, “No exchange brokerage required”
- Artificial intelligence introduced
- MOU with Sogang University, Korea University and POSTECH
- KTB Securities, Hanwha Investment, Daejin KB, Meritz, Eugene, Kium, Kyobo, Cape, Hanyang, Dongbu, Bukwang, Shinsegae, Mirae Asset, HMC and other 25 investors are selected as partners.


Core technology
- SCORE (smart contract on reliable environment) — Self-developed smart contract platform
- LFT Algorithm — Loopchain Fault Tolerance Algorithm based Real-time Transaction Support
- Tiered system — Implementation of system suitable for enterprise environment based on differential authority such as participation of authorized organizations and audit of transactions
- Full stack customization based on transaction from Modular Architecture agreement and verification to blockchain engine.
ICON Homepage: https://icon.foundation/
ICON Whitepaper: http://docs.icon.foundation/ICON-Whitepaper-EN-Draft-4.8.pdf
theloop Homepage: https://www.theloop.co.kr/
Related News: http://www.getnews.co.kr/view.php?ud=201708021523138306520be6a7e3_16
http://www.zdnet.co.kr/news/news_view.asp?artice_id=20170803170054&type=det&re=
For more information, please refer to the white paper and homepage.
Thank you for reading but not enough!
______
[ICON official community]
Homepage : https://icon.foundation
KakaoTalk : https://open.kakao.com/o/gMAFhdS
Medium (ENG post) : https://medium.com/helloiconworld
Brunch (KOR post) : https://brunch.co.kr/@helloiconworld
Reddit : https://www.reddit.com/r/helloicon/
Twitter : https://twitter.com/helloiconworld
Facebook : https://www.facebook.com/helloicon/

