The ICON project was started to ensure the integrity and transparency of data shared between institutions and companies, and to move mutual assets on heterogeneous blockchains without a centralized organization.
The ICON blockchain technology enables entities to reduce their human and financial resource spend when treating data and managing assets, and creates an unprecedented experience for users on the blockchain.
The ICON Network has a structure for connecting heterogeneous blockchains operating in different domains.
Current blockchains are independently operating in different areas and domains, and there is no standard protocol to exchange data and assets between the different blockchains.
For example, when you move assets on a security domain blockchain to an insurance domain blockchain, or when you move assets on Etherium to ICON, it is almost impossible to transfer because there is no secure and standard way of doing so.
Even though you use an oracle relayer to transfer the asset, there remains a risk of trust in the oracle being centralized. To avoid the trust issue of the oracle, a secure standard protocol that prevents forgery and tampering when moving assets across heterogeneous blockchains was needed.
In the 1970s, different private networks were independently operated and were disconnected from each other.
However, once the TCP/IP protocol standard came out to connect private networks and formed a huge network called the Internet, the power of the connected networks has been growing at an incredible rate.
The ICON project aims to create a strongly interconnected blockchain network by integrating various public and enterprise networks in a similar way as TCP/IP.
The ICON interchain protocol (BTP) will begin to integrate dApps and wallets (users) on different blockchains, have a role of bridging heterogeneous blockchains invisibly, and penetrate deeper into our lives.
- IISS (ICON Incentive Scoring System) : Voting/DApp/EEP rewards to encourage contributions to the ICON Network
- Configurable Fee : fee sharing, zero fees using virtual step
- High Mobile Accessibility : Mobile web, Android, iOS ( IIP-14 )
- Supports both Enterprise and Public Blockchains
Developers can create the following unique services and features with the ICON network
- Mint tokens to sale using IRC2 standard, similar to ERC20 in Ethereum
- Manage tokens to utilize in dApp ecosystem
- Enhance loyalty of your customers and users using point earning system with tokens
- List IRC2 tokens to exchanges
- IRC2 Standard defined at IIP-2
- Access multiple services after just one KYC verification
- Keep personal identity information in each owner device, not in a service provider centralized database
- Share and manage data between parties without trust concerns
- Enable counterparties to accept, without risk of falsification, transactions of contracts
- Enhance security using distributed key management
- Discover lost keys
- Generate NFTs to handle unique digital items like crypto-collectibles
- Make unique badges used in social media and online communities
- IRC3 NFT Standard defined at IIP-3, equivalent to ERC721
- Support legal documents asserting the rights of tokenized assets on a blockchain
- Partition management with partially fungible tokens in tranche
- Interface for managing operator privileges
- IRC16 Standard defined at IIP-16
- Anchoring prevents forgery and corruption of important data
- Monitoring system for checking whether data has been forged or not
- Build a token-based payment system to reduce the fee of payment and credit card companies
- Utilize stable tokens pegged with fiat money in your services