ICON is a blockchain technology platform that enables the development of decentralized applications (DApps) and smart contracts. It is based on a public blockchain network and is designed to facilitate the creation of a decentralized network of independent blockchains. The ICON platform is powered by its native cryptocurrency, ICX, and is supported by a wide range of partners, including banks, insurance companies, universities and more.
The ICON platform is powered by a loopchain-based blockchain protocol and consists of multiple layers. At the base of the platform is the loopchain layer, which is responsible for maintaining the blockchain ledger and processing transactions. The loopchain layer is powered by a consensus algorithm called the Loop Fault Tolerance (LFT) algorithm, which is designed to ensure that all transactions are securely validated and recorded.
The ICON platform has a decentralized app (DApp) layer that allows developers to create their own blockchain-based applications. The DApp layer is powered by a smart contract programming language called ICON Smart Contract Language (ISCL), which enables developers to create their own decentralized applications and smart contracts. The DApp layer also includes a set of APIs and a decentralized exchange (DEX) for trading ICX tokens.
Founder: Min Kim
Loop Fault Tolerance
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