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Based in South Korea, ICON is an enterprise-focused smart contract platform with goals to “hyperconnect the world” through blockchain technology. ICON sees a world where the exchange of money and value is not limited by the boundaries of industries and countries.
ICON operates as a decentralized ecosystem, where there is no single authority of power. ICON believes that communities today are too separated, often relying on centralized organizations to facilitate communication and the exchange of value. This is where ICON hopes to make a difference, by connecting companies across industries and borders.
Similar to Ethereum, the ICON platform supports decentralized applications. There are already operating Dapps on ICON such as blockchain secured IDs, decentralized exchanges, and interchain communicators. ICON boasts communities comprised of reputable institutions, including banks, hospitals, and universities, that can communicate and transact through smart contracts.
The ICON network will introduce features such as real-time Consensus Algorithm, Smart Contracts, Decentralized Exchanges and Light Client. These technologies are based on ICON’s proprietary blockchain engine platform called ‘Loopchain’.
Loopchain contains a feature called SCORE, which is a smart contract platform. Using SCORE, users can create a variety of decentralized applications. ICON will also implement ‘DAVinCI’, a trusted Artificial Intelligence solution, into their platform. Other features of ICON include consensus algorithm ‘LFT’, Multi-Channel transactions and customizable modules.
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