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Review on ICON by Sebastian Lees
Unique Governance æternity is governed by its stakeholders, meaning that miners…
Unique Governance
æternity is governed by its stakeholders, meaning that miners, token-holders and other participants with a stake in the blockchain have the ability to make decisions together on proposed changes.
Pros
- Consensus: ICON’s loopchain uses a Loop Fault Tolerance consensus mechanism, which is basically an enhanced Byzantine Fault Tolerance (BFT)-based algorithm that promotes faster consensus. The goal of Loop Fault Tolerance is to ensure the finality of the consensus without the possibility of forks within the network.
Cons
- SCORE is an enhanced smart contract feature of loopchain. SCORE is designed to ensure high performance contracts run directly in the node operation environment without a separate virtual machine (M). SCORE can be easily deployed and created for various applications because it runs separate from the underlying blockchain processes.
