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Icon Foundation offers $570,000 ahead of major network upgrade

Icon, a framework for creating blockchains and a bridge to link them all together, is trying to become more decentralized. At present, the Icon Foundation, the keepers of the network, not only writes all the code, it also controls a large chunk of its coins. This is about to change with the launch of its ICONSENSUS governance mechanism.


The idea behind the move is to give coin holders more of a say over who runs the network–and the Icon Foundation slightly less. To encourage people to exercise their new voting rights, the Icon Foundation is giving away 3 million ICX coins, worth $570,000 to would-be voters.


The ICONSENSUS governance mechanism essentially makes Icon a delegated-proof-of-stake network. This is where token holders elect a group of third parties to run the network, and use an ongoing voting system to ensure those elected behave themselves. Votes can also be held on upgrades to the network. Read More at Decrypt...

#ICX #dPoS

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