ICON to Release Pengwyn BINC Whitepaper
ICON has released the Pengwyn BINC whitepaper. This document provides insights into the role of a contributing member in the Pengwyn Universe’s waddle.
Refer to the official tweet by ICX:
ICON - Connecting Blockchains 🌐 🔀@helloiconworldMar 08, 2024The @Pengwyn_BINC whitepaper is out now 📜
What does it means to be a contributing member of the waddle and what is in store for the Pengwyn Universe? 🐧
Read on to find out more 👇 $ICX https://t.co/eHhndlcgmy
ICX Info
ICON is a general-purpose open-source blockchain ecosystem designed to unite various blockchains.
One of ICON's key features is its Loopchain protocol. Loopchain supports smart contracts and utilizes the Loop Fault Tolerance (LFT) consensus algorithm, which is a modification of the Practical Byzantine Fault Tolerance (PBFT) algorithm. LFT ensures fast transactions and minimal latency, making it ideal for commercial applications.
The ICON platform also introduces the ICON Network, a decentralized network that enables independent blockchains to interact with each other. Through the ICON Network, organizations can harness blockchain technology and collaborate with other entities without the need for identical blockchain protocols.
ICONIX (ICX) serves as the native token of the ICON ecosystem. ICX is used for transactions within the network and as a means of participating in voting processes within the ICON ecosystem.