1 Level
5 Review
1 Karma
Review on ICON by Soren Laramée
ICON’s platform is best thought of as a blockchain of blockchains…
ICON’s platform is best thought of as a blockchain of blockchains. Independently-governed blockchains, that can function by their own rules, can operate on the ICON platform to work with each other. While in a Nexus (explained shortly), they will have to abide by certain rules, but they will still have governance over their individual blockchains. Think of them as independent states, with their own rules, working at a international level when they must cooperate with each other
Pros
- ICON Republic ICON Republic Is the centre of all the different communities. It is comprised of the C-Reps chosen by their respective communities to represent them. Governance decisions are determined by the voting of C-Reps. ICON Republic operates on the Loop Fault Tolerance (LFT) consensus algorithm. Citizen Node Citizens nodes are also part of the ICON Republic, but they are devoid of any voting rights. Participating of Citizen nodes occurs through the decentralized applications (DAPPS) created on Loopchain, more on this later.
Cons
- Community Node (C-Node) C-Nodes make up the communities described above. Anyone from individuals to institution can run a C-Node within their chosen community. Community Representative (C-Rep) C-Reps are selected nodes/individuals who have been chosen by their community to represent them. To qualify as a C-Rep, a node’s contribution to the ICON network is first assessed via its IISS (ICON Incentives Scoring System) score. A minimum score must be achieved to be considered for a C-Rep position.
