A Blockchain Platform Focused On Interoperability

ICON (ICX) is a blockchain platform designed to facilitate interoperability between various blockchain networks and enable the creation of decentralized applications (DApps) that can interact with one another.

ICON aims to create a decentralized network of blockchains that can communicate and collaborate seamlessly, allowing for more efficient and interconnected blockchain ecosystems.

ICON uses its own blockchain technology called Loopchain, which is designed to provide high-speed and secure transactions, making it suitable for various applications.

ICONs vision of a connected and interoperable blockchain ecosystem sets it apart in the blockchain space.

ICX coin

ICX is the native utility token of the ICON network. It is used for various purposes, including paying transaction fees, participating in network governance, and staking for network security.

ICON platform uses a consensus mechanism called Delegated Proof of Contribution (DPoC), which involves staking ICX tokens to participate in block production and network maintenance.

Interoperability of the platform

ICONs main focus is on interoperability, which means the ability of different blockchain networks to communicate and share information. ICON aims to connect different blockchains, including private and public networks, to enable data and value exchange.

Communities

ICON allows different blockchain communities to create their own governance structures and customize their networks while still being able to interact with other communities within the ICON ecosystem.

ICONs interconnected blockchain ecosystem is referred to as the “ICON Republic.” It consists of different blockchains, known as “communities,” each with its own governance and use cases.

The ICON Foundation oversees the development and growth of the ICON ecosystem. It aims to promote adoption, support projects, and drive innovation within the network.

DApps and Smart Contracts

Developers can build and deploy DApps on the ICON platform. These DApps can interact with other DApps within the ICON Republic, fostering a collaborative environment.

ICON supports the development and execution of smart contracts, which are self-executing contracts with the terms of the agreement directly written into code.