Hey guys, here’s a breakdown of today’s ICON x Shinhan Bank news.
Looks like Shinhan Bank will be using the public ICON network and ICX.
This is so exciting. Eager to see what future holds for Icon.
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Is there any way to find out more in depth details of the processes that occur technically. I get that its essentially PKI - correct me if im wrong im always wanting to learn more!. ICX is sent over to a server and in response a digital certificate is issued to provide authentication. And understood because these are legit entities (banks, universities, etc…) they offer validation to the market place. But how much ICX is required for a digital certificate, that is if im thinking about it correctly - Would it be correct to think of the transaction as a fee of .000001 icx/user registration (arbitrary) or is there a private deal setup and this information is not publicly available. Curious @markusjay @Genesis.
I think this great article will answer your questions. It doesn’t involve the direct implications between private and public usage (like banks and such), but it should give a general idea of how things are done at a technical level. You can then apply what you’ve read to your questions/concerns.
Thank you @Genesis just read through the article and it a good reference. I get most of it - but specifically like in the article " Every transaction via the interoperability protocol will require ICX. " i completely understand. but just being specific - How does one derive the quantity (cost) of ICX that will be used in a transaction and why would it be that cost? I know in the whitepaper there is an equation that basically says more transactions = greater ICX price, but idk.
Ima dive my head back in the whitepaper if i can find out lol, I don’t really remember seeing it there but we’ll see haha. Thanks again
just jumping on to say Hi. Any of the old crew still here.
Hey man, good to see you back. Yes a good group of us are still here, but I think the majority are here nowadays.
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Glad to see you there sir.
I’m on the ta one buddy
I usually try to avoid double posting, but the news has been so good lately that I’ll just keep a stream of them coming.
I can’t even begin to express how impressed and enthusiastic I am with this announcement. Under-promise and over-deliver is an understatement at this point.
Faster, more stable and scale-able on top of how fast it already was.
Interoperability to power features and cross-chain solutions for DeFi.
ICX holders will be able to register a relayer that relays data over all high profile, smart contract blockchains.
Inactive voters will automatically vote for the top 100 P-reps. Now everyone who stakes will be rewarded regardless.
Everything else is a bit dev related, so read everything below! .
But how is it possible that ICX is still under 50 cents with all this good news?!?