Kyber Network is collaborating with ICON, which happens to be a decentralized network that is looking into ways to hyperconnect the world as well as bring the various block chain communities together.

It was back in 2017 that ICON was founded and it was on the premise that the country borders were with the passage of time becoming less relevant. It was about getting the blockchains to transcend the boundaries in place in a bid to come up with new social, political, and economic realities.

The Swiss-based company is at the moment a market leader in the Korea. It is working on a rather elaborate ecosystem in which case most of the blockchains will be in a position to move ahead and interconnect.

Real world institutions like banks, hospitals, universities and businesses will be able to plug into the network and move ahead to spark interactions with one another via the blockchain IDs and the smart contract transactions.

A person familiar with the most recent developments opined, “Powered by loopchain, ICON features DAVinCI domestic artificial intelligence, Smart Contract on Reliable Environment (SCORE) technology, the loopchain Fault Tolerance (LFT) algorithm, modular architecture, and a tiered system of differential access rights.”

Kyber Network makes its entry into the strategic partnership in the hope that it will be able to connect its token conversion services to ICON’s inter-blockchain network.

An official that sits on ICON’s Foundation Council, J.H. Kim has outlined that the token exchange system pulls along as a major component of the inter-blockchain ecosystem.

One ICON’s central objective is to see to it that exchange of tokens between independent blockchains gains momentum as soon as possible. The collaboration with Kyber Network will help move ICON many steps ahead in line with the inter-chain token exchange.

One analyst familiar with the matter disclosed that ICON was on course on its journey towards achieving immense success in terms of being able to connect as well as support additional blockchains and tokens.

He went further to term the recent cross-chain collaboration the first of its kind for Kyber Network.