ICON Korean Crypto Startup Changed Transaction Fees System
The developers of the ICON project announced the introduction of a new system for charging transaction fees: Fee 2.0. The startup claims that users can now access the decentralized applications on the platform without the need to create and replenish a cryptocurrency wallet.
‘Fee 2.0’, the new transaction fee system of the ICON Network, has been published on the ICON Mainnet. Users can now access ICON DApp services more conveniently without paying transaction fees,
This was achieved through two systems: Virtual Step and Fee Sharing. The first allows operators of decentralized applications to apply for paying commissions an analog of the token ICX, which is generated when stacked, the second is to pay commissions on behalf of their clients.
Despite the update, the cost of the token has decreased by 14% over the past day. Now it is $ 0,355. The last week, according to the Cindicator fintech company, a mostly negative seven days for Korean crypto projects, which lost about 2% on average, even if there were some good performers in the group. Four projects suffered double-digit losses and two of those lost around 20% of their value or more.