1 Level
5 Review
0 Karma
Review on ICON by Sophie Taylor
The proceeds from the recent token sale are fairly divided, with 20 percent…
The proceeds from the recent token sale are fairly divided, with 20 percent going each to the tech company and one reserve. Another reserve receives 15 percent, with the same amount going toward business development. Twelve percent is allocated for operation expenses, with 8 percent for marketing expenses and 10 percent for strategy partners. Those who missed the token sale can trade for ICX. With the completion of the MAIN NET Launch, you do not even need exchanges to do so. Check for updates on ICON’s social network channels to see when ICX is available on exchanges and where to find it.
Pros
- ICON Republic is the “hub”, of sorts, for all the various communities on the ICON network. C-Reps are responsible for making and managing this connection. All of the above is powered by ICON’s “Nexus” multi-channel blockchain, which is itself based on loopchain. Loopchain uses a Loop Fault Tolerance (LFT) consensus algorithm, which is very similar to a DPoS system, where C-Reps are “delegates” for their own communities on the network. They vote on cross-network reward policies, resolve discrepancies, vote on currency issuance, and generally help maintain network integrity. In essence, when a transaction is broadcast, C-Reps check if a transaction is valid, and if so, they send it on to the other C-Reps who continue checking and add it to the chain. Every Nexus blockchain can be further connected to several other Nexus blockchains, growing the ecosystem.
Cons
- Becoming a node on ICON Republic is as simple as creating your own DApp. Those who become nodes receive rewards based on the ICON activation performance. An artificial intelligence system ensures a fair distribution of rewards, optimizing distribution while ensuring total decentralization.
