ICON is one of the largest blockchain networks in the world. People are getting ready for a world of interoperability and hyper-connected communities. The blockchain of blockchains is getting built one day at a time.
For clarity, the ICON project are building one of the largest decentralized networks in the world. They are hyperconnecting world. Thus, doing all it takes to connect the crypto world to the real world.
The ICON Network is made up of different institutions ranging from, financial institutions, insurance companies, hospitals, universities and several others. ICONex is ICON’s Wallet which supports ICX and various cryptocurrencies. The ICONex boasts faster transactions, secure payments, and liquid exchange across multiple cryptocurrencies with user-friendly UX and UI.
Also, ICONick is a convenient ‘wallet ID’ used in the ICON network. Use your own unique nickname instead of a long and complicated default wallet address to conveniently transfer or exchange ICX.
The latest news is the ecosystem is about the Blockchain Transmission Protocol (BTP) Working Group Update. The excitement is about ICON having joined forces with the Polkadot Ecosystem. This they feel is a tangible progress in the process of integrating BTP to the Polkadot Ecosystem.
First of all, Acala, Moonbeam, Edgeware, and Plasm, which are the four of the top parachain candidates in the Polkadot Ecosystem, will get integrated in to ICON’s BTP interoperability solution.
Acala is known for bringing in a robust, EVM-compatible Polkadot DeFi ecosystem.
Moonbeam brings in unmatched Ethereum compatibility with the largest and most robust portfolio of live integrations across the DeFi, NFT, and gaming spaces.
Edgeware will be bringing in decentralized community governance.
Plasm are bringing in a DApp hub and layer 2 solution for the Polkadot Ecosystem.
ICON are looking forward to working closely with all these four teams to further envision several collaboration opportunities across all of their ecosystems.
The first phase of integration by merging the necessary precompile contracts with a Polkadot EVM (Frontier Pallet) is already complete.
The next milestone for Polkadot integration is about having testnet implementations for BTP smart contracts which is expected to be completed by the end of Q2 2021 and the mainnet support upon launch of ICON 2.0.
These BTP connections are making it possible for applications on all the four parachains to be able to directly interact with ICON, within themselves and with any other network which gets added to the BTP Ecosystem.
Further, it also supports cross-network smart contract interactions, cross-network token transfer, cross-network NFT transfer, and others. Thus making it clear that BTP is a generalizable and decentralized cross-chain data transfer protocol with limitless potential.
Get the latest Crypto & Blockchain News in your inbox.