CMC#	Market Cap (USD)	Volume (24hr)	Circulating Supply	NVTS	Change (7d)	Change (24h)	Savings Per 1K
61	$78,482,900.00	$7,889,910.00	517,195,000 ICX	58	11.43%	-2.3%	-$17.34

Background

ICON was created to address perceived limitations in developing and deploying "real world applications" for decentralized, consensus-driven, block-chain-based technologies. The team see tremendous utility for block chains outside of the original use case: currency. And ICON wants to allow more developers and customers to build and use block chain applications, bridging the gap between the real world and the "crypto" world. To achieve this network, ICON incorporates a five-prong network: Community (a network of nodes running compatible software similar to Bitcoin's or Ethereum's node "community"), C-Node (the code run by each node member), C-Rep (a class of community C-Nodes that significantly contribute to the ICON network and have transaction confirmation voting rights), ICON Republic (users that connect different network communities), Citizen Node (the nodal component of ICON republic that don't have network voting rights, but can run by dapps on ICON's "loopchain" smart contract execution protocol).

Technology

The "network of blockchains" that ICON aims to achieve is accomplished through Nexus, a loopchain-based blockchain that allows discrete blockchain protocols to connect in cross-chain transactions via ICON Portals that connect through Nexus. ICON analogizes Portals to the SWIFT banking network. Portals run ICON's Blocchain Transmission Protocol (BTP) that ICON intends to serve as a connector for a large network of blockchains with different styles of governance similar to the Internet that connects computers through a shared communication layer. ICON also includes loopchain, a smart-contract oriented bloc chain that is based on the Smart Contract On Reliable Environment (SCORE) protocol. Based on loopchain, ICON sports Loop Fault Tolerance (LFT) that aims to ensure faster network consensus without the possibility of forks by maintaining a group of trusted ICON nodes. ICON tokens (ICX) are native to Nexus and transferrable between blockchains connected to the BTP network. ICON also supports a ICX-based decentralized exchange (DEX) that supports the exchange of different native assets across the ICON network.

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