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ICON Foundation

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A blockchain ecosystem to hyperconnect the world

ICON Foundation is the developer of the ICON blockchain. ICON aims to connects crypto to the real world and advancing society towards hyperconnectivity. ICX aims to reach this goal by connecting independent blockchains and enabling transactions between them. ICX uses its self-developed Loop Fault Tolerance consensus mechanism or LFT. LFT is developed from Tendermint, with improvements in performance through the consolidation of network messages.

ICON has its own token with a total supply of more than 800 million. ICON did its ICO in June 2018 on the Ethereum network, and subsequently, release its mainnet in the same year. ICON uses an indirect democracy governance model where it uses representation channels, reserve channels, and incentives to align the votes of nodes and users.

Categories

Blockchains, Cryptocurrencies

Location

Zug, Switzerland

Year founded

2016