Boil the corn in salted water for 10 minutes.  Drain, let cool, and slice off the kernels.

Roast the bacon in a 400° F oven for 15-20 minutes until crispy.  Drain on paper towels, and chop into small pieces.

While the corn and bacon are cooking, slice the onions and sauté in the oil, with salt, pepper, and balsamic vinegar, reduce the heat to low, and continue to cook until they soften and caramelize (15-20 minutes).

Combine the corn, with the caramelized onions, and bacon.  Add the chopped cilantro, and adjust the salt/vinegar if needed.  If you happen to have smoked salt, add a pinch for extra flavor.