ICON priceICX $0.2469

Unlike other bridging solutions, ICON presents an interoperability solution that is limited neither by the base technology of the blockchain nor number of existing connections.

ICON is a hub that instantly connects all blockchains that are integrated with the ICON ecosystem, whether it is built using ICON's Goloop, Cosmos SDK, or Substrate.

ICON's mission is to build a multichain future by integrating with existing networks and also facilitating the creation of new networks and connections via its interoperability solution, BTP.

ICON is a delegated proof-of-stake (DPoS) network, which means a majority of stakeholders delegate their share of the network – in this case, ICX – to registered validators that produce blocks and participate in governance. ICON’s DPoS consensus lets non-technical stakeholders benefit from staking without having to set up a node or join a staking pool.

On ICON, ICX holders can stake and delegate ICX to P-Reps – entities that have registered to participate in governing the ICON blockchain. This DPoS implementation offers the best of both worlds – stakers can passively earn rewards, while technical individuals that are actually interested in setting up infrastructure and governing ICON can do so.

The ICON blockchain is governed by Public Representatives (P-Reps). To become a P-Rep, a team or individual must go through an on-chain registration process which includes paying a 2,000 ICX registration fee. Following registration, a P-Rep can start receiving delegation in the form of staked ICX.

To read more: ICON Governance.