18 Sep 2017
Icon is a Korean based company which seeks to establish an open source blockchain ecosystem to be utilized by government, financial institutions and businesses.
The mechanics of the ICON project are focused on the following:
1) implementation of a smart contract environment named ‘SCORE’
2) release of a consensus algorithm (named Loopchain) which processes transactions and data in realtime
3) creating flexibility in the ecosystem so that other blockchains can be connected to the Icon network
Icon is backed by a technology firm called ‘theloop,’ a blockchain focused company that has been the recipient of several private financing rounds already.