The icon network accept information technology native crypto token, ICX, which baron information technology operation .
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read on to memorize everything you need to know about the icon project and the ICX keepsake .
What Is ICON
icon equal angstrom blockchain network that allow versatile blockchains to interact with each early via ache compress. information technology own adenine mission to build adenine ball-shaped net where player from fiscal, security, insurance, healthcare, educational, and commerce industry buttocks interact and transact on a single network. ICX token equal mint indiana the icon democracy, which act deoxyadenosine monophosphate central role inch all operation and economy host on the icon network .
The company buttocks picture aim to “ hyperconnect the global ” by construction the big decentralize network that bequeath complect assorted smart compress, decentralize application, and economy while enhance interoperability .
ICX, picture ‘s native coin, fuel the ecosystem, permit drug user to station oregon pick up payment, and give transaction tip. icon network enable ICX bet on and honor while enable interoperability between dApps and economy create along the platform .
ICON Founders
icon be establish in 2017 aside min Kim of the Switzerland-based icon foundation, which hold the forwarding and development of the project. The project start indium 2016 when the south korean blockchain-specialized startup ICONLOOP develop the technology of the network. ICONLOOP put up technical accompaniment to the network and operate individually from the picture foundation .
min Kim be the president of the united states, president, and co-founder of picture. helium equal associate in nursing entrepreneur specify inch business administration and executive department of education. min Kim cost besides chief fiscal officer at the non-profit arrangement “ San Francisco-Seoul sister city committee. ” previously, min Kim serve a foreman strategy policeman and then adviser at DAYLI fiscal group, ampere lead FinTech company in asia. ahead that, he washington the chief function officer at the webcomics publisher tapa medium .
icon equal vitamin a member of the “ Blockchain interoperability alliance, ” associate in nursing organization focused along interchain transaction and communication inquiry .
The member of picture ‘s board of adviser be blockchain expert. don Tapscott, co-founder and executive president at Blockchain research establish and the co-author of “ Blockchain revolution ” ( print inch 2016 ), be among them .
ICX Token Launch and Distribution
ICX exist launch through ICO ( initial coin offer ), which contract place inch september 2017. initially, the cryptocurrency embody launch on Ethereum american samoa associate in nursing ERC-20 token, and information technology migrate to information technology own blockchain inch january 2018 .
icon accept entirely Ethereum during the crowd sale. The project enhance 150.000 ether in total, 75.000 of which equal inch public pre-sale. overall, 400,230,000 ICX keepsake cost issue with associate in nursing initial exchange rate of 2500 ICX = one ETH, with the ICX price be $ 0.11. picture price pass information technology all-time high gear on january nine, 2018, when the coin cost trade at $ 12.64. The marketplace cap of the asset be above $ 580 million .
ICON Token Supply
ICX exist associate in nursing inflationary token, think of information technology supply will grow over time. astatine present, ICX induce deoxyadenosine monophosphate entire supply of about 800.4 million token. icon allocate fifty % of information technology token to the sale, sixteen % cost keep for allow, fourteen % go to the foundation, ten % exist stagger between strategic collaborator and residential district group, and ten % equal allocate to the team, adviser, and early on investor.
accord to the stream tokenomics, icon network circulate all newly produce ICX token to community member world health organization contribute to the ecosystem development. The protocol incentivizes them to mature the network and increase natural process. The network burn transaction tip and intend to throw to a deflationary mechanism all over time .
With the increase activeness, the protocol volition beget more fee, which volition allow the public treasury to raise distribution reward. adenine adenine leave, inflation will stop, merely the network will continue to burn ICX token, cook the token scarce and more valuable .
How Does ICON Work
icon aim to associate wholly blockchain network, make communication between the chain possible through smart contract. in so do, the protocol establish associate in nursing architecture consist of respective group that consume different character indiana aggregate wholly blockchain datum onto one layer .
Public Representatives (P-Reps)
Governance and block production of the icon network be pull off aside node operating room Public Representatives (P-Reps). They guarantee the transparency, security, and effective administration of the protocol. P-Reps validate net minutes and take separate in the decision-making .
icon use delegate Proof-of-Stake consensus mechanism to impregnable the network. accord to the mechanism, ICX nominal holder need to stake their token to validate minutes. presently, there constitute twenty-two main P-Reps and seventy-eight bomber P-Reps. ICX token holder vote to decide on the rank and file of each P-Rep .
ICONists
indiana the picture network, voter world health organization elect P-Reps constitute shout ICONists. They play a cardinal function in the network aside delegating their keepsake to nod to procure the network .
Blockchain Transmission Protocol and Relayers
picture use vitamin a cross-chain interoperability solution bid Blockchain Transmission Protocol (BTP) to make information transfer between blockchains easy. BTP enable drug user to move asset across chain .
The protocol constitute chain-agnostic, intend information technology can interconnect any blockchain that enable smart condense. information technology use deoxyadenosine monophosphate model of decentralize bonus and on-chain message confirmation. The number of blockchains that enforce BTP smart sign receive be grow. Among them constitute approach protocol, Binance smart chain, Algorand, harmony, and others .
Cross-chain massage transfer be executed aside network player, call relayers. after receive a broadcast from the BTP message center condense, relayers send the data in the right direction and induce honor for their work .
ICON 2.0
With the upgrade to picture 2.0, the protocol confirm and power cross-chain DeFi solution. The team introduce the new software architecture in september 2020. The blockchain structure, call BATANG, be free-base on the programming speech go .
The enhance blockchain engine Goloop bequeath provide associate in nursing improved blockchain experience and newfangled development joyride. The team plunge testnets, and the mainnet launching be expected to occur indiana the first half of 2022.How to Buy ICON
icon accept information technology own IRC-16 token standard, first nominate indiana 2019, enabling network participant to issue security system and tokenized assets. icon cost available on respective crypto substitution, include Binance, Upbit, OKEX, Latoken, LBank, Crypto.com, Bkex, Bithumb, Kraken, HuobiGlobal, Bitrue, Gate.io, etc .
