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Iconomi

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Description

What is Iconomi and what does it do?

Iconomi is a cryptocurrency designed to appeal to crypto investors. Through Iconomi, users can purchase many different Digital Asset Arrays, or DAAs, which can be seen as portfolios that hold different amounts of different cryptocurrencies. Iconomi’s DAAs may appeal to people that are not informed or confident enough to make unassisted investment decisions. DAAs allow for Iconomi users to follow overall trends in cryptocurrency markets, and to buy assortments of cryptocurrencies they think will appreciate.

Iconomi is based in Slovenia. Iconomi has assets in Ethereum, Bitcoin, Euros, US Dollars, and Byteball, among other cryptocurrencies.

What is ICN used for and how does it work?

Iconomi’s native currency is ICN, an ERC-20 token. Currently, it is not clear exactly what ICN tokens will be used for, but Iconomi’s official website states that the team behind Iconomi “anticipates that creating a DAA will require burning ICN tokens.”

An early version of Iconomi’s white paper led people to believe that holding ICN was the same as holding shares of Iconomi. This has been proven false. ICN tokens do not represent shares of the Iconomi platform.

How can the ICN value appreciate?

ICN has considerable potential to increase in price as the entire cryptocurrency market grows over a long period of time. As cryptocurrency is adopted by more mainstream investors, Iconomi and its DAAs may appeal to uninformed individuals that still wish to get involved.

Previously, it was stated by Iconomi that individuals holding ICN would receive dividends from the earnings of the Iconomi platform. Later, this dividend idea was traded for a “buyback” program. Now, Iconomi purchases ICN periodically and burns them, which decreases the total supply of ICN tokens and raises the value of each individual ICN.

What is the difference between Iconomi and its competitors?

One of Iconomi’s closest competitors is Melonport, which intends to offer its users a decentralized platform for asset management, like Iconomi. Iconomi is different from Melonport because it uses a web application that might be easier for users to interact with.

Another emerging competitor is Blackmoon. The team behind Blackmoon directly compared their project to Iconomi, stating that Blackmoon is superior because it “establishes fund diversity by providing investors with access to both crypto and traditional markets.”

  • Mainnet Launch: October 2016
  • Open Source: No
  • Consensus Type: PoW
  • Technology: Ethereum
  • Total Coin Supply: 99,156,976
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Our opinion

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Description

What is Iconomi and what does it do?

Iconomi is a cryptocurrency designed to appeal to crypto investors. Through Iconomi, users can purchase many different Digital Asset Arrays, or DAAs, which can be seen as portfolios that hold different amounts of different cryptocurrencies. Iconomi’s DAAs may appeal to people that are not informed or confident enough to make unassisted investment decisions. DAAs allow for Iconomi users to follow overall trends in cryptocurrency markets, and to buy assortments of cryptocurrencies they think will appreciate.

Iconomi is based in Slovenia. Iconomi has assets in Ethereum, Bitcoin, Euros, US Dollars, and Byteball, among other cryptocurrencies.

What is ICN used for and how does it work?

Iconomi’s native currency is ICN, an ERC-20 token. Currently, it is not clear exactly what ICN tokens will be used for, but Iconomi’s official website states that the team behind Iconomi “anticipates that creating a DAA will require burning ICN tokens.”

An early version of Iconomi’s white paper led people to believe that holding ICN was the same as holding shares of Iconomi. This has been proven false. ICN tokens do not represent shares of the Iconomi platform.

How can the ICN value appreciate?

ICN has considerable potential to increase in price as the entire cryptocurrency market grows over a long period of time. As cryptocurrency is adopted by more mainstream investors, Iconomi and its DAAs may appeal to uninformed individuals that still wish to get involved.

Previously, it was stated by Iconomi that individuals holding ICN would receive dividends from the earnings of the Iconomi platform. Later, this dividend idea was traded for a “buyback” program. Now, Iconomi purchases ICN periodically and burns them, which decreases the total supply of ICN tokens and raises the value of each individual ICN.

What is the difference between Iconomi and its competitors?

One of Iconomi’s closest competitors is Melonport, which intends to offer its users a decentralized platform for asset management, like Iconomi. Iconomi is different from Melonport because it uses a web application that might be easier for users to interact with.

Another emerging competitor is Blackmoon. The team behind Blackmoon directly compared their project to Iconomi, stating that Blackmoon is superior because it “establishes fund diversity by providing investors with access to both crypto and traditional markets.”

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