ICON (ICX) Partners Up with Samsung Thanks to Chain ID

ICON, one of the top 20 coins, currently ranked as the 19^th-best coin in accordance with its market cap, has just acquired another important partnership. This time, ICX has managed to get Samsung on board, which is one of the leading companies in the domain of developing electronic devices. No need for the introduction of Samsung, as this company has managed to make a brand out of its name, but we are surely interested in analyzing what ICON is going to get out of this newly acquired partnership.

ICON Partners up with Samsung

One of the latest, most exciting news related to ICON, is the fact that the team behind ICX just partnered up with one of the leading brand names in the world of electronics, Samsung.

The main reason why ICX managed to get this partnership is the fact that Samsung will be using ICON’s own Chain ID for their new project called Samsung Pass.

The news about Samsung Pass and Chain ID broke out a couple of days ago, on May 11^th, when the team behind ICX wrote on Medium about Chain ID, representing this project as the first blockchain joint authentication service.

The team managed to “forge” Chain ID out of loop chain blockchain system, and the mentioned authentication service will be used by Samsung for their latest project.

The entire idea of this authentication service started with South Korea wanting to regulate Certified Certificates, which is a centralized system of authentication. Wanting to answer the need of a more flexible method for personal authentication, ICX decided to use loop chain technology, that way creating a unique way of authentication with Chain ID.

Korea Financial Investment Blockchain Consortium has then become the technical partner, pairing up with ICON as their teams were working on Chain ID.

In the announcement, as published on Medium, the ICX representative stated that the mentioned project, Chain ID, was made almost a year ago and has been in use since October of last year.

However, now, Samsung found interest in this authentication service, wanting to use it for improving its own service, Samsung pass.

Samsung is currently using the bio-metric system for authentication on their mobile devices, but they are also planning on implementing Chain ID into their mobile devices, which is the main reason for partnering up with ICON.

This is, needless to say, a great deal for ICX, as its technology managed to find its way towards being massively used with the future designs of mobile devices that Samsung is planning on releasing, which is an amazing commercial use for ICON.

Partially driven by the latest partnership with Samsung, and in great way trading in the green, because the tables have turned in the crypto market, ICON is going up in its price today on May 13^th.

How is ICON doing at the Current Moment?

The latest market trend dictates trading in the green with frequent rises, so ICX is no exception to the rest of the currencies.

In the period of the last 60 days, ICX did pretty well, although not among the top gainers of the mentioned period. During this time, ICX has risen for 43% against the dollar, while it managed to collect a rise of 60% in total against the dollar in the period of 30 days.

In the last two weeks, ICON didn’t perform as well as in the previously mentioned period of 60 and 30 days, which means that ICX was going down during this period, falling by -14% during the course of 14 days.

In the last seven days, the market was acting a bit sluggish, so we could see the majority of currencies going down while trading in the red. ICON was no exception, so we could see it losing -6.8% against the dollar in the last week.

However, today we can see a different case as the market has turned bullish again with having the majority of currencies going up while trading in the green against the dollar.

With the latest change in the market, ICON has gone up to 8.18% against the dollar, while it also went up against Bitcoin by 4.42%.

ICX is dropping in oppose to ETH by -1.95%, which means that Ethereum is doing slightly better at the current moment.

After the latest change in the market, ICX can be bought at the price of 4.14$ per one unit.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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