Bitcoin vs ICON
What problem does this service solve?
|Bitcoin is the first digital currency and the first use case of Blokchain technology. The bitcoin blockchain was the first decentralized, immutable, and transparent ledger.||ICON wants to integrate multiple blockchains, that were designed with different purposes, in a unified system. ICON is a very ambitious project that tries to combine various elements of other decentralized projects into a combined symbiotic system.|
Bitcoin is the first digital currency based on blockchain. It solved the double-spending problem and enabled peer-to-peer transactions on a large scale. Bitcoin was designed to work as a trustless digital currency that would function without government oversight or a central bank.
ICON (ICX) is unique compared to most other digital currrencies. ICON's primary objective is to establish a unifying system to integrate an unlimited numbers of blockchains. This would allow numerous blockchains to work together and incorporate aspects of all of them. ICON is powered by a unique system called loopchain, that can adopt different features, rules, and consensus systems. The loopchain has different circles, with nodes that connect it. There are community nodes and individual nodes that are all connected to the ICON Republic, which is the entire ecosystem. These nodes can connect in countless ways and results in unlimited applications. The network has an innovative consensus mechanism called Delegated Proof-of-Contribution (DPoC).