ICON to Launch Incentives Scoring System

The  IISS and ICO platform lauch are scheduled for April 2018
09 April 2018   1026

The ICON project is aiming to build one of the largest decentralized networks in the world, and it is comprised of various institutions like financial, insurance companies, hospitals, universities and more.

At the end of January ICON has published its roadmap for 2018, highlighting key points of the project's development for the whole year. Here are the major milestones:

  • March, 2018 — Token Swap, Mobile wallet
  • April, 2018 — IISS launch, ICO platform
  • 2018. Q2 — ICX/ETH DEX, Public Channel
  • 2018. Q3 — Governance Channel, IISS Improvement
  • 2018. Q4 — SCORE Improvement

The event which is due to come this month is the lauch of IISS, which is the Incentives Scoring System. Based on the DAVinCI financial solution artificial intelligence, IISS is responsible for determining a node’s ICX reward for its contributions to the network.

According to the ICON white paper, IISS calculates rewards based on the following factors: “the node’s 1) frozen ICX, 2) C-Rep status, 3) ICX exchange volume, 4) ICX exchange volume of the whole community if it has one, 5) ICX volume traded through DEX if it has one and so on.”  With DEX, community members can trade currencies without having to use public exchanges like Bittrex, Binance, or Bitfinex.

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Bittrex to List LOOM

LOOM is the token of the American startup Loom Network, which launches decentralized applications
18 July 2018   188

Popular cryptocurrency exchange Bittrex listed Loom Network token LOOM. 

As the team of the exchange said, trading with the crypto currency will begin in the near future. On the background of this news, LOOM showed a price jump fo 14%.

LOOM Price Chart
LOOM Price Chart

LOOM is the token of the American startup Loom Network, which is launching decentralized applications.

In January, Bittrex tightened the criteria for listing new tokens. Now, developers need to provide technical information about the token itself, as well as the data of at least one team member. At the moment, the exchange has 290 digital coins.