With an aim to build one of the largest decentralized networks, ICON (ICX) was introduced into the world of cryptocurrencies. The main idea was to build a platform with the help of which various blockchains can interact with each other through smart contracts. The various blockchain communities connect with each other with the help of the ICON (ICX) Republic; this is done with the help of community representatives which then connect them to Nexus, another loopchain-based blockchain. This community representatives actually act as a portal for other communities so that those other communities can interact with Nexus and therefore, with some more communities. Other than that, all the other blockchains that use ICON (ICX) have the authority to exchange currency in using this decentralized exchange or DEX. This decentralized exchange sets currency reserves for other blockchain communities that are associated with ICON (ICX) so that whenever these communities want to exchange value in real time, they can do that without any problem. The exchange rates are also set by decentralized exchange, and it happens with the help of an artificial intelligence analysis model. The intermediate currency for this exchange is actually an ICX coin which works as an intermediary during the exchange.
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