ICON seems to be enjoying the latest trend in the market with the majority of currencies trying to acquire a solid bounce. ICX is rising by nearly 3% with the latest change in its price. Moreover, Binance has awarded ICX with another trading pair, adding BNB into the story as announced during the past week.
Alongside with actively progressing in the market with the latest trend, ICON took over the project of interconnecting ICON platform with other blockchain ecosystems, that way enabling intercommunication and shared operations that would be enabled by the smart contract technology.
However, one of the crypto enthusiasts reported the bug while providing evidence, stating that the error in the system is strictly connected to smart contract operations creating problems for ICON.
Bug Found in Smart Contract Code: ICON Says the Problem is Solved
Yesterday, on June 16th, an ICX user reported that he had found a bug in the smart contract code regarding the latest project of the Icon platform where the team is planning on interconnecting different blockchain ecosystems in order to enable communication between different platforms, that way also enabling transactions via different chains.
The user reported on this occasion that the reported bug allows anyone to manipulate the tokens, so that is how the problem started for ICX.
ICON responded to the initial report almost immediately, while confirming the bug found in the code of smart contract technology used by ICX, stating that the ERC20 tokens are not in any way jeopardized by the reported bug.
The community disapproved of the found bug, considering the fact that the bug affected the ICX ERC20 transfers, making this part of the system dysfunctional at the time the error was found.
The team behind ICON has immediately taken the needed steps to calm down their holders and investors, assuring them that their tokens are not being exposed to any attacks and neither are a part of any legal activities.
The team published a post on medium, providing a brief explanation on what happened, adding that the problem was spotted only in form of temporarily blocked ERC20 transfers.
Bug Report: ICON is looking for a Long-Term Solution
Immediately responding to the case of the spotted bug in smart contracts, that way preventing tokens from being transferred, ICON has stated in their release on Medium that the error that was found was marked as a temporary bug, while not affecti9ng the safety of the t0okens.
The team has further stated that they have found a short-term solution that tamed the problem for now; however, the team added that they are working on a long-term solution that would prevent such errors from ever reappearing.
The team has concluded their release by stating that they are close to finishing the final preparations for completely neutralizing this error.
The team has thanked the community for their patience, reminding them again that the “minor issue” has been neutralized while not placing the security of ICX into question.
One of the council members of ICON, Mr. Min Kim stated in a separate tweet post that the error that was found was just a minor bug that would be solved “by the end of the day” (as stated on June 16th).
Min Kim further added that having minor errors appearing while the work is in the progress is a quite normal thing for a developing project, while he stated that the team of ICX took the full responsibility of the error while quickly resolving that problem.
It seems that the ICON community is of forgiving kind, so the efforts made by the team as well as the immediate attention that was given to this issue seem to be greatly appreciated by the community, the investors, and holders.
ICON (ICX) Performance
ICON seems not to be affected by the recent case of the found error in the smart contract code, so we could see it up by over 3% yesterday on June 16th while the problem was still an open case, while ICX traded in the green despite the market trend.
Now that the market seems to be trying to bounce off against the dollar, ICON is still showing signs of progress in the market, now being traded at the price of 2.03$ per one ICX.
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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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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
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The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful trading…
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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
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