The Current Headline Is That Pablo Escobar's Brother Launched A Cryptocurrency

Escobar And Cryptocurrency

There is a hook in the cryptocurrency world as some new products and services have managed to gain initial interest as well as a subsequent success which is: Attach the project to a famous individual, a unique concept or even a popular meme where the thinking goes and that you’ll distinguish yourself amid a field which is constantly growing and changing. Here comes the hard fork of Bitcoin which is the most popular digital currency in the world known as Dietbitcoin, DDX that is said to have the most outlandish hook yet and the crypto alternative is explicitly linked to Roberto De Jesus Escobar Gaviria or better known as Roberto Escobar who is the brother of the late Colombian drug lord Pablo Escobar. 

Dietbitcoin includes a white paper according to a report by cointelegraph.com with an introduction making bold statements about bitcoin as where the introduction as Escobar claims to be the first person publicly coming out and claiming that bitcoin was created by the American government and he adds that the world is going to wake up, therefore, to see that this was created by them and when they see it, it’s too late as also the CIA finds out that the world knows about this and they are going to sell all of their coins thereby to destroy the value of bitcoin as explained by Escobar that DDX is the result of this belief. 

Did Nakamoto Come Knocking?

For crowd sale fundraising purposes likely to many other cryptocurrencies, dietbitcoin is running an initial coin offering as it is set to take place in three rounds along with a total of 1 million DDX coins available. With charging $2 per coin in the pre-ICO round all the way to $ 1,000 per coin in the ICO itself as the three rounds have vastly different prices associated with DDX. 

Escobar has released a book via downloadable PDF that was titled The True Story by Roberto Escobar: Pablo Escobar’s Dietbitcoin alongside the launch of DDX. The book also includes claims of a connection with Satoshi Nakamoto besides Roberto Escobar’s views on various elements of his brother’s story, the mysterious figure behind bitcoin. Although he indicates that he subsequently came to believe that it was a setup by the American government to infiltrate Escobar Incorporated his investment company as Escobar suggests that Nakamoto approached him with a proposal for launching the dietbitcoin project. 

What Is an ICON Cryptocurrency?

In this case, it is a network framework that is designed to allow the independent blockchains to interact with each other as ICON is a blockchain technology where ICON is supported through a cryptocurrency token called ICX.

Understanding The ICON Cryptocurrency

A South Korean based company that developed a blockchain technology and accompanying cryptocurrency token called ICX is what ICON is. Allowing participants in a decentralized system to converge at a central point as the company bills itself as the interconnected blockchain network as it is done by connecting a community to other communities through the popular ICON Republic and the Citizen Nodes. Enthusiasts point out other areas where the technology can be applied while blockchains are most commonly associated with cryptocurrencies whereas any exchange of information is what is technically added to a blockchain adding some types may not be cost-effective. 

Those things that can be tokenized involves securities, currencies, business contracts, deeds, and loans, intellectual property as well as personal identification. Managed by a particular network, blockchains by default connect different blockchains as has not been possible where ICON comes to be an attempt at such a connection. Hereby businesses adhere to policies and guidelines that they developed with centralized payment systems like VISA. ICON thereby seeks to reduce potential friction points to adoption by allowing individual communities to retain control of their policies. Allowing for the maintenance of a verified ledger shared within the community network itself communities are connected to the ICON Network through a decentralized exchange reducing the need for third parties where it can reduce transaction costs.  

There Is A Community Comprised Of A Network Of Nodes

Community Representatives having a say in how the community interacts with the ICON Republic, it is here that ICON refers to decision-makers as Community Representatives. Connecting with different communities, the ICON Republic governance comes determined by the votes of Community Representatives whereas the actions of the ICON Republic don’t determine the governance of the separate communities themselves. Allowing for the issuance of the ICON Exchange Token, called ICX, is the ICON Republic whereas the non-community Representatives similar to interested individuals can, therefore, participate in the ICON Republic but do not have voting rights. Hereby ICON, therefore, uses the concept of a loop chain connecting communities referred to as a consortium determining a common set of rules allowing different blockchains to work together. 

Finally, To Account For ICON 

Hence with the blockchain of the ICON Republic referred to as the nexus, each community’s blockchain is linked through the Community Representative where the rules cover how the independent blockchains interact with the nexus that is called the Blockchain Transmission Protocol.