What is Icon? (ICX)

What is Icon? (ICX)
Icon aims to build a decentralized network of networks powered by cryptocurrencies. 

In this way, Icon describes its goal as being to establish a “digital nation” wherein different economic actors can issue and control their own forms of value, under rule systems they select. 

The inspiration behind the design is the structure of real-world economies, in which businesses, nonprofits and public institutions, all leverage a common means of value (a national currency), yet remain distinct but interoperable economic actors.

Put another way, the idea is that computer applications can use the Icon software as infrastructure to create their own currencies and economies. Computers running the software (nodes) can then elect to support economies in the Icon ecosystem according to their interests.

The Icon Republic acts as the center of the Icon blockchain’s operation, governing the process by which new ICX cryptocurrency is minted in each block. 

While ambitious in scope, the Icon team has delivered a few iterations of the idea, following up a 2017 white paper with a yellow paper in 2019 that went deeper in outlining its technology.  

As of 2020, the Icon team continues to release updated roadmaps regularly on Medium. 
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