ICON Foundation council member Min Kim recently spoke with CryptoNewsZ on hyperconnecting the world, the road to ICONSENSUS and what lies ahead.
As part of ICON, Min has involved himself in a truly revolutionary blockchain journey, explaining that it “has been incredible, and perhaps, incredibly painful as well.” He added, “There is so much energy and support. And I believe that’s because blockchain is beyond making money; it’s about bringing real change to the way we work and live together as a human race.”
Speaking on ICON’s ultimate goal of ‘hyperconnecting the world’, Min explained they are expanding the ICON ecosystem and plan to achieve their vision in two ways; firstly through the public network, by developing partnerships within the blockchain space, fostering entrepreneurs through accelerator programs and engaging in developer outreach programs. “The second front would be to build various private blockchain networks on top of ICON’s proprietary blockchain via ICON Nexus,” Min explained.
This all leads to ICON’s road to decentralization through ICONSENSUS.
ICONSENSUS — a combined brand name of ICON with ‘consensus’ — symbolizes ICON’s mission to achieve four milestones:
- The election of public representatives (P-Reps) to decentralize the network
- The election of community representatives (C-Reps) to support interchain communication
- Ongoing DApp Booster Programs (DBPs) to fund and promote quality decentralized applications
- Ongoing Ecosystem Expansion Projects (EEPs) to incentivize activities that foster the ICON ecosystem.
This election campaign, ending in September, will “reward every ICONist fairly for their contributions to the network based on [ICON’s] governance system, DPoC (Delegated Proof of Contribution),” Min says.
By the end of the year, ICON hopes to complete the majority of its white paper features, including interoperability with heterogeneous chains. They also plan on organizing the first ICONgress, an off-chain governance body consisting of P-Reps, C-Reps, DApps, EEP contributors, blockchain experts and ICON team members, which will allow them to discuss the future of the network, technology standards and more. ICONSENSUS will truly mark a new era, with a fully decentralized ICON network.
“We are looking forward to successful P-Rep Elections in September when the network will become fully decentralized, and we expect increased utility of the ICX token,” exclaimed Min.