ICON Network is a general purpose turing complete smart-contract protocol using LFT (enhanced PBFT algorithm) consensus algorithm based on loopchain, a high-performance blockchain engine.
ICON has various functions and strengths to support developing and operating DApps. If you are a developer wanting to develop a DApp, we hope that you have a look at the slides and get some good information about ICON Network!
If you have any further questions, please contact BongAn Ha, Cryptoeconomic Architect (bongan@icon.foundation).
2. What is ICON Network?
40
+ 32
+ 530
+ 450,000
+ 163,400
ICON Network is a loopchain-based public
blockchain
ICON Network is a general purpose turing complete
smart-contract protocol using LFT (enhanced PBFT
algorithm) consensus algorithm based on loopchain, a
high-performance blockchain engine
Vision for interchain
From the start, ICON has focused on interoperability. To
do this, ICON will connect independent blockchains with
different governances, allowing them to transact in real
time via BTP technology
Rank in CoinMarketCap
Total Exchange Listings
Number of Smart Contract
Number of Account
Daily Transactions
3. ICON Network is a high performance
blockchain
P-Rep
Block Validator
● ICON Network is running by loopchain which is a high performance blockchain engine based on LFT
● ICON Network can confirm about +1,300 transactions within 2 seconds and store them in a block
● Based on DPoS governance system, only 22 super nodes called Public Representative (P-Rep) produce and
validate all transactions
P-Rep
Block Validator
P-Rep
Block Validator
P-Rep
Block Validator
+1,300 tx confirmation
within 2 seconds
4. ICON Network has a innovate fee structure
SCORE
Smart-contract on Reliable
Environment
Developer
Deposited 10,000 ICX
ICONist
ICONist
ICONist
● Fee Sharing is a feature in ICON Network’s smart contract system (SCORE) that allows a developer to adjust
the ratio of fee payments for developers and users
● Developer is able to set the fee to be paid by the developer so that users can use the DApp for free
● Via Fee Sharing, developers can enhance their DApp’s user experience
User is able to
use DApp for free
Set the ratio to allow the
smart contract to pay
transaction fee
SCORE pays all
transaction fee in full
5. ICON Network has a innovate fee structure
SCORE
Smart-contract on Reliable
Environment
Developer
Deposited 10,000 ICX
Signed for a month
Virtual
Step
Get 800 ICX (Virtual Step)
Per Month for free
● Virtual Step is a virtual fee, which can be paid as a transaction fee instead of Step (ICX) - If a developer deposits a
certain ICX on their smart contract, the smart contract can get certain amount of virtual fee for free
● This is an unique system that helps reduce the operating costs of smart contracts
● If a developer deposit 10,000 ICX with signing for a month, the smart contract will receive 800 ICX (8%) per month for
free
6. ICON Network has a stable governance and
an active DAO community
● ICON Network has a strong on-chain governance system and a world-wide active DAO community supported by
representatives, which can keep the decentralization protocol more stable
● DApps can fail anywhere like from protocol issue, community issue or 51% attack, or other way chain attacked
● The activated DAO community has the strengths below:
○ The protocol continues to be updated technically by community
○ The protocol maintains censorship, corruption resistance, and attack resistance
○ The value of the protocol continues to rise
○ The number of users that using the protocol continues to increase
7. ● ICON Network has a revolutionary automated on-chain fund system called ‘Contribution Proposal System (CPS)’
● DApps that can contribute to increase the overall value of the network can get grants from CPS
● This is one of the innovative ways DApp can grow rapidly with protocols
ICON Network has a revolutionary on-chain
fund system
Developer CPS
Contribution Proposal System
Submit a
Contribution Proposal
P-Rep
P-Rep
P-Rep
Approved by P-Reps
Receive a grant
8. ICON Network will support interoperability
technology for DApps
● BTP (Blockchain Transmission Protocol) is a technology to allow other blockchain users to interact with smart
contract on ICON Network, and smart contract on ICON Network to interact with smart contract on other blockchains
● Using BTP, DApps can access multiple blockchain community and can interconnect to multiple blockchains
just by deploying smart contract to the ICON Network
ICON
Network
Blockchain
A
Blockchain
A
Blockchain
A
Blockchain
A
Interconnected
using BTP
9. Check out these websites
ICON Foundation - https://icon.foundation/
ICON Community - https://icon.community
ICON Developer Telegram - https://t.me/icondevs
Feel free to send e-mail
ICON Foundation is looking for a great DApp that can
contribute to expand our network. If you have any
questions, feel free to send e-mail to me
Bongan Ha, ICON Foundation -
bongan@icon.foundation
Any questions?