Key changes to ICON and ICX tokens
Key changes to ICON and ICX tokens

Key changes to ICON and ICX tokens

By Adrian Zmudzinski - 7 Aug 2018

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According to an official post on Medium, the ICON Foundation council members have unanimously approved the repurchase of up to $5M of ICX tokens.

What’s more is that the post refers to the repurchase as the first one, admitting that more could come in the future.

The reason that has been given in the post is that the foundation wants to stay committed to the success of its project.

“ICX repurchase program is a great way to give back to our community as well as reinforce confidence in our own project”, said Min Kim, an ICON Foundation Council Member.

Still, the more cynical readers would be more prone to believe that the real reason is that the foundation expects the token price to rise in the future.

Theloop rebranding

Theloop, the main technology partner of ICON has just rebranded to ICONLOOP.

The change is immediate and will be reflected on the website and other marketing material in the near future.

The post explains that such a rebranding “demonstrates a strong and long-term commitment to the ICON project” and is “expected to unify and improve ICON’s brand positioning in Korea and the global market.”

Open source code release

New Icon code will be sequentially released on the project’s GitHub in the next two months; this will bring some pretty substantial updates to the protocol. For instance, DAPPs will be able now to run a full-scale token sale with ICX, develop basic smart contracts and smart contract versioning will be included.

Wallets and Nano S integration

Among the code that will be released in the next two months, there will be three different wallets. Two of them will be called ICONex Android and ICONex iOS, and they will support ICON wallet creation/import/export/deletion, ICX and ETH transfers and “ETH ICX Token exchange with ICON ICX.

The other new wallet will be ICONex Desktop.

It will be a chrome extension and will have all the functions included in the Android.

The difference compared to the mobile wallets is that this one will also support the Ledger Nano S and support for Web Application. What’s more, also the Ledger Nano S BOLOS application module is coming.

Adrian Zmudzinski

Adrian is passionate about technology and Information Technology (IT). Adrian specialized in the analysis of tokens, the blockchain technology, and cryptocurrencies. His interest in Bitcoin dates back to 2009 and it rapidly transformed into a more general interest of the still arising cryptocurrency industry. His analyses are concerned mostly by the technological potential underlying the analyzed token.

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