About

The ICON Foundation is a non-profit organization dedicated to developing infrastructure to interconnect various blockchains. It supports the open development of bridging technologies, aiming to enhance interoperability between diverse blockchain networks. This initiative seeks to create a more unified and accessible blockchain ecosystem.

History

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).