ICON and KyberNetwork partnered up to unify different blockchains, using the KyberNetwork’s token exchange service protocol.
‘Even though we only exist on the Ethereum blockchain at the moment, it is important to have footprints in other protocols. The partnership with ICON enables us to attain this aspiration of supporting cross-chain transactions, thereby delivering utilities of different decentralized applications across chains,’ explained Loi Luu, the CEO of KyberNetwork.
On the other side of this partnership, there is ICON which needs cross-chain functionality as part of its long-run plan.
‘The token exchange system is a key component of inter blockchain ecosystem. Exchanges of tokens between independent blockchains are one of our ongoing business goals. Our partnership with KyberNetwork brings us one step closer to inter-chain token exchange. Down the road, we hope to connect and support additional blockchains and tokens, eventually taking the place of today’s centralized exchange regime,’ said J.H. Kim, a member in the Foundation Council of ICON.
ICON has the goal of creating a system that unifies and integrate unlimited numbers of blockchains.
ICX is the ICON’s crypto coin and, at the moment of this article, 1 ICX can be bought for $7.2.
You can buy ICX on HitBTC and Binance.
KyberNetwork is an exchange service that allows anyone to exchange digital assets.
The uniqueness of the KyberNetwork resides in its derivative exchange that allows users to mitigate cryptos price fluctuations’ risks.
KNC, the KyberNetwork’s crypto token, worth $3.55, at the moment of this review.
You can buy KNC on Liqui, Binance, and EtherDelta.
The strategic partnership between ICON (ICX) and KyberNetwork (KNC) will most definitely bring an increase in both ICX and KNC prices in the future. However, the partnership is important not in terms of ICX and KNC prices growth but in terms of what it offers to KryptoNetwork’s users: One step closer to the cross-chain exchanging.