ICON operates on loopchain with following technical features: - LFT (Loop Fault Tolerance) is an enhanced BFT (Byzantine Fault Tolerance)-based algorithm that promotes faster consensus and ensures the finality of the consensus without the possibility of forks within the network. - SCORE, loopchain's own Smart Contract platform, ensures contracts to run directly in the node operation environment without a separate Virtual Machine. - Multi-channel feature allows multiple independent channels to be created within the same blockchain network to execute request, consensus, and Smart Contracts separately. - Tiered access system to differentiate access rights to nodes with different functions
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What is ICON
ICON is a decentralized network designed to connect independent blockchains.
The ICON network is based on a proprietary blockchain technology (an open source project supported by the Korean government). ICON developers claim that their main objective was not to simply connect blockchain nodes, but to conduct a profound research of community-to-community connectivity. ICONs initiative was to create a protocol (or cryptocurrency) that could be used in the real world within and between actual communities.
The ICON network can be broken down into three key elements: ICON network components, connectivity, operation. The idea is that disparate blockchain communities (capital markets, various institutions, etc.) could be connected to form an ICON Republic through a linking Nexus network.
The ICON network operates on a loopchain that can facilitate real time transactions based on enhanced Smart Contract.
The network will be integrated with ICON tokens (ICX). It is a loopchain-based smart contract digital protocol, which will allow ICON participants to facilitate, verify and enact agreements.
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Simon Seojoon Kim
AI Department Leader
Product ManagerBlockchain Department
Henry Hyunil Lee
UX Design Department Leader
Design Department Manager
Marketing Department Leader
Security Department Leader
Security Department ManagerFoundation Council
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