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#ICON X $ICX
A while ago I did a poll and noticed that a lot of my followers (99% $VET holders) hold $ICX too.
I don't, but did some reading. Hereby a very short basic explanation about ICON.
- Goal
- Consensus: dPoS
- "Miner" rewards
- Tx Fees: ICX/Step
Feel free to share.
A while ago I did a poll and noticed that a lot of my followers (99% $VET holders) hold $ICX too.
I don't, but did some reading. Hereby a very short basic explanation about ICON.
- Goal
- Consensus: dPoS
- "Miner" rewards
- Tx Fees: ICX/Step
Feel free to share.
- Goal
ICON aims to build a decentralized network that allows independent blockchains with different governances to transact with one another without intermediaries.
ICON aims to build a decentralized network that allows independent blockchains with different governances to transact with one another without intermediaries.
- Consensus: dPoS
A total of 100 nodes can be elected by ICON holders
(one ICX = one vote).
The top 22 will produce blocks and participate in governance, while the bottom 78 will store a copy of the ledger and making themselves available to replace a Main node if necessary.
$ICX
A total of 100 nodes can be elected by ICON holders
(one ICX = one vote).
The top 22 will produce blocks and participate in governance, while the bottom 78 will store a copy of the ledger and making themselves available to replace a Main node if necessary.
$ICX
- "Miner" rewards
The issuance of ICX will change dynamically depending on the amount of transaction fees in a block. If the transaction volume of the ICON Network provides sufficient funding for the reward fund (to pay the nodes), new ICX will not be minted.
1/2
$ICX
The issuance of ICX will change dynamically depending on the amount of transaction fees in a block. If the transaction volume of the ICON Network provides sufficient funding for the reward fund (to pay the nodes), new ICX will not be minted.
1/2
$ICX
2/2 If the transaction volume increases further and the amount of transaction fees exceed the required funding sum for the reward fund, the excess transaction fees will be burned.
= inflationary or deflationary
$ICX
= inflationary or deflationary
$ICX
- Tx Fees: ICX/Step = ETH/Gas
Step, is the unit of measurement for transaction fees on the ICON Network. (100.000.000 Step = 1 ICX) The amount of Step required is measured by the computational resources required to execute the transaction.
$ICX
Step, is the unit of measurement for transaction fees on the ICON Network. (100.000.000 Step = 1 ICX) The amount of Step required is measured by the computational resources required to execute the transaction.
$ICX
I'm not a holder of $ICX. But looks like they are doing nice things. Luckily the world is big enough for multiple blockchains.
Want to learn more about VeChain?
Feel free to take a look around at the comments or ask questions
https://twitter.com/Martijncvv/status/1218895904469651456
Can also click #EducationVET
Want to learn more about VeChain?
Feel free to take a look around at the comments or ask questions
https://twitter.com/Martijncvv/status/1218895904469651456
Can also click #EducationVET
