In Fusion’s wallet application, a user can create new assets and set customizable parameters for the new asset in the asset creation library without needing any smart contracts. The process takes only a few seconds. The framework has been enhanced to provide users with the flexibility to create assets with a fixed or changeable supply, supporting business logic that requires changes to the total quantity of the asset base. What’s more, assets created on Fusion can be extended to include customizable attributes in support of non-fungible assets like artwork, digital identities and to enable meta-data driven business logic.
Fusion’s revolutionary Quantum Swap feature enables any asset locked-in on the Fusion protocol to be seamlessly exchanged with any other trading pair on the network. The exchange is completely feeless, unrestricted and all the parameters of the swap are entirely controlled by the user.
This is a much more user-friendly and reliable process compared with Atomic Swaps. With atomic swaps a channel must be opened between the counterparties participating in the exchange and the exchange must be approved and executed within a limited time window. Any error by either counterparty can result in delays, unresolved exchanges, and locked funds. Inevitably, the completion of an Atomic Swap requires numerous steps and is prone to error, failing to compete with the efficiency and seamlessness of a centralized exchange.
By comparison, Fusion’s Quantum Swap gives the user the seamless experience of a centralized exchange trade but without any fees and restricts and in a totally distributed way.
Bitcoiner since $59 – BittBurger, gives us his take on the current status of the South Korean ICON project. This post is primarily about a solid uptick in community involvement, decentralized marketing, and the token side of things. For the last year and a half we had a pretty uninvolved community, while the company continued to work under the hood to build something huge.
A lot is happening right now. I feel like nobody knows about it.
A lot is happening right now. I feel like nobody knows about it. It just started. Most of it. So your patience will be appreciated. But I’ve never seen so much proactivity in this project on the token-side of things before.
AMBASSADOR PROGRAM: Over the last handful of weeks, the Ambassador program has begun. This program incentivizes the creation of content to promote ICON across social media and the internet. Several Ambassadors have already put out multiple articles that are getting ranked across Google and Medium, bringing attention to the project.
ICONSENSUS P-REPS: The number of ICONSENSUS P-REP candidates has surpassed 40 (there will only be 22 voted in) and ICON is beginning a strong marketing push to attract more teams this month, with the goal of reaching 100. Check out the candidate interviews here.
PODCASTS: Speaking of Podcasts, several investors have begun reaching out to their contacts at several different podcast and YouTube influencers. The goal is to get ICON team members on for an interview, to talk about the project and get the ICON name in front of tens of thousands of faces (or ears). Ricky and others at ICON have been excited to make themselves available for this, which makes all of us extremely grateful. I will be working to get someone on my friend Chico Crypto‘s YouTube channel soon, and a handful of podcasts are already underway for scheduling.
EXCHANGES: This past week, a group formed within the Telegram channel to focus entirely on reaching out to as many new exchanges as possible, and getting ICON listed on them. A Trello has been set up, and we’ve already begun making headway on this incredibly important goal.
BINANCE USA LISTING: With the advent of Binance USA, both the ICON team and everyone involved are aggressively pursuing assurance that ICX will be listed on the new exchange for US investors.
COINBASE LISTING: The same is being done for ICX being in the next couple rounds of newly added coins on Coinbase. I’ve spoken to team members at ICON who have assured me they’ve been following up on this regularly. Please download their app > Sign in > Click “View all Assets” > Then scroll down and click “Follow” on ICON. This is an important metric for Coinbase to decide what gets added next.
HIRING PR COMPANY: Two days ago I managed to connect Ricky Dodds (ICONS Head of Institutional Markets in their San Francisco office) to a close friend of mine who runs the PR company which took Genesis mining from nothing to a $2 Billion valuation, and got them on that 60 minutes episode a few weeks ago about Bitcoin. The mining segment in Iceland was thanks to him. Intro email was sent and the two of them have been connected to see if they’re a good fit.
HIRING PR COMPANY: Today, I connected Ricky to another company who runs a significantly larger Crypto-focused PR and marketing company. These guys were responsible for some of the biggest successes in Crypto, including Ethereum, NEO, Maidsafe, Qtum, Bancor, Lisk, and Augur. They also managed scaling campaigns for DASH, Ripple, Bittrex, and Kraken. They were excited as they personally know 4 of the 8 advisors listed on the ICON website, and they have an office in Seoul, South Korea in addition to Santa Monica, NYC, Las Vegas, Toronto, and San Francisco. To say I am excited to see the emails flying around today between Ricky and their team would be an understatement.
STAKING! 15% Staking is coming in 43 days. The ramifications of this can not be overstated. Aside from the completely speculative “claim” from some that their whale groups will stop suppressing the price at that time (which would be great, if it’s true), I expect nearly everyone to be staking their coins, completely drying up the order book and causing massive upward price pressure come September.
INCENTIVE PROGRAMS: I was happy to hear from a team member that several very specific plans are being put in place, after observing countless incentive programs by other projects that have resulted in price gains. The ICON team has realized the importance of creating incentive, interest, anticipation, and excitement for this token, and they’re taking steps to make it a reality for ICX.
My point in writing this: A LOT is coming in the next 8 to 12 weeks. All of this is centered around recovering and catapulting the price as high as it can possibly go. ICON is seeking out the all-stars in this industry with incredibly resumes, and asking the experts for direction and input.
All of the marketing and promotion has just barely begun. Everything is at ground zero. But its finally happening. All the things we’ve been hoping for, for a year and a half.
Building a blockchain can be as easy as copying and pasting code, the true challenge is building a network. This year ICON (ICX) is one of the only platforms that have already secured and built the networks in the necessary industries.
It’s pretty clear that ICON has remained the absolutely dominant blockchain platform of Korea with deep ties to the government, and business deals with the largest corporations and consortiums in major industries.
With a lot of crypto projects on the edge of banktrupcy due to the bearmarket ICON’s financials remain healthy. They even managed to expand to a much larger and better office space capable of supporting up to 470 people.
In addition being part of Dayli Financial, the largest fintech company in Korea, and ICONLOOP being a for profit business since 2016 means that ICON has had an income stream well before all the ICO madness.
New Enterprise Blockchain Alliances
ICON is looking to start new partnerships with companies to create dApps for its public blockchain ecosystem. It is specifically looking for companies who operate in the B2C (business-to-consumer) and B2B (business-to-business) markets.
Partnerships will be governed through the newly established Loopchain Alliance Program a.k.a. ICON LAP100 which aims to jointly develop enterprise blockchain solutions with 100 companies and startups in fields such as biometric identification, certification issuance and payment.
Decentralization is one of the core principles of ICON’s governance.
ICONSENSUS is a journey toward mass adoption of blockchain. ICON will have its community elect 22 P-Reps, nodes which will take on the distributed responsibility of preserving the ICON Network, producing and verifying blocks, validating transactions, proposing and voting on network policy changes, essentially the will be driving the growth of the ICON Ecosystem.
The P-Rep pre-registration has officially started. During September 2019, ICON will see worthy P-Reps registered on the blockchain. Finally, Q4 of 2019 is seen as the timeline when the ICON Network will be handed over to P-Reps, signaling the Genesis moment of the “decentralized” ICON blockchain.
The Samsung Connection
The Samsung Galaxy S10 early leaks have shocked the crypto world when it was revealed that the brand new flagship smartphone will feature an inbuilt cryptocurrency wallet. Samsung Galaxy smartphones are among the most popular in the world.
With Samsung integrating cryptocurrency to the Galaxy S10, it may have an even bigger impact than the ETF and Bakkt combined. Mostly because no one really knows what kind of exposure an ETF will bring to crypto meanwhile millions of people use Samsung phones daily.
In order to understand the ICON and Samsung connection we first need to break down the partnership between ICON and Samsung:
Samsung Pass is the default biometrics identification system found on every Samsung phone. It is used by Samsung phone users several times a day for online payments, logins, signatures and even phone unlocks.
This would mean that in the future, Chain ID, and ICONLOOP’s ID authentication service, would serve every Samsung Galaxy phone.
When Chain ID connects to the public ICON Network through the use of ICX tokens and interoperability is enabled Chain ID immediately expands its use case and scope to almost every imaginable interaction.
If we connect the dots we can assume ICONLOOP’s CHAIN ID will see real world consumer use as a result of Samsung Pass integration very soon.