Blockhack Report: ICON Dapps Presentation by Deblock — Part 1 — ICON Features, Roadmap & SCORE
Note: since the content was quite long and to prevent people from waiting, I’ve decided to break this event into 2 parts. Part 1 will focus on a general overview & the Opening ICON presentation and the SCORE (Smart Contract on Reliable Environment) presentation and part 2 will focus on the presentations and evaluations of the dapps.
Following in the wake of Pantera Capital’s statement that their ‘single largest bet is on ICON’, and theloop’s joint creation/entry into Korea’s newly formed Open Blockchain Industry Association, blockchain accelerator Deblock hosted its first ICON Dapps Demo day, ‘New Kids On the Block(chain)’ in Seoul on the 27th. Deblock was jointly founded by ICON and AD4th.
Introductions of ICON, SCORE, Deblock, and presentations and evaluations of 5 Dapp teams were part of the agenda.
The event was oversubscribed long before the event with more than 150 people, and among these included a panel of judges that were responsible for evaluating a 10 minute ICON dapp presentation, and 10 minutes of sharp questions on the models of the projects.
These judges were comprised of not only the most esteemed members of Korea’s blockchain industry, but also of Korea’s entire tech and finance industry.
The panel of judges in the front row from left to right involved:
HW Lee — CEO of Unblock, the blockchain subsidiary company of LINE, one of Japan’s largest provider of mobile applications and internet services.
JH Kim — CEO of theloop, the company developing the ICON blockchain.
Simon KIM — CEO of #Hashed, Korea’s largest blockchain fund and accelerator. Early investors of the ICON platform.
JH Park — CTO of Upbit, the largest cryptocurrency exchange in trading volume in Korea.
JS Han — CEO of Ground X, the blockchain subsidiary company of Kakao, Korea’s largest provider of mobile applications, internet services.
The Opening ICON Presentation by JH Kim, CEO of theloop
Enterprise adoption and focus
The opening began with a brief introduction of the ICON blockchain and its current state of adoption and focus on enterprise adoption. These included industries such as finance (Chain ID), insurance, and education (U-coin running as a pilot service at Sogang University and Postech University.)
Kim remarked that ICON was created in large part due to the realization that an independent blockchain in itself ran into several problems and needed a way of communicating with each other.
Brief description of ICON’s main features
- BTP — Blockchain Transmission Protocol
- IISS — ICON Incentive Scoring System
- DEX — Decentralized Exchange
- On-chain Governance — Voting system policies running ICON republic
Basic consensus structure of each blockchain is shared while customized features and added functionalities can be developed under the connecter structure allowing for flexibility within a common consensus.
The smart contract platform will support SCORE (ICON developer tool), EVM (Ethereum Virtual Machine), JVM (Java Virtual Machine), and others. What this essentially means is that ICON’s platform will have greater flexibility and uses for developers with more options.
Decentralized applications, SCORE, ICON features
Anyone can build on the ICON blockchain/network.
T-Bears (apparently named after the story of ‘Goldilocks and the Three Bears’ due to the programmers at theloop resembling the bears) will be the name of the SCORE developer tool.
ICONex — Inter-blockchain wallet
ICONest — ICO Platform
Current Features of ICON Platform:
- Flexible fee structure of ICON network — ratio between fee can be adjusted between the service provider and user allowing flexibility for both parties, fees can also be paid by staking ICX.
- 1 confirmation finality — allows real time smart contract application/usage
- ICON mainnet currently supports 1000 transactions per second per channel in its current iteration.
ICON Future Roadmap
- T-Bears (SCORE dev tool)
- ICONest (ICO Platform)
- ICONex (Mobile)
- ICX/ETH Dex
- SCORE Lite (Public Channel)
- IISS Launch (ICON Incentive Scoring System)
- Governance channel
- Privacy based on zero knowledge
- IISS improvement
- SCORE improvement
Key Takeaways from the T-Bears SCORE Presentation by the lead developer
Note: Due to the slides being labelled ‘Strictly Private and Confidential,’ I am unable to share slides at this point but I will provide my notes of SCORE (Smart Contract on Reliable Environment) during the presentation.
SCORE features on ICON
- SCORE is the smart contract that runs on the Loopchain/ICON platform
- Written in Python
- It contains an interface that is very similar to Solidity, (Ethereum smart contract programming language) allowing intuitive and familiar development
- An address will be provided for each smart contract
- Execution of the smart contract will require fees in ICX
ICON Github — https://github.com/icon-project (Note: this is NOT the same github as https://github.com/icon-foundation)
- Contains all the opensource code for ICON including wallets, and additional information.
- Lead developer actively encouraged the developer community to deploy forks and generate pull requests on the ICON GitHub as community participation is always welcome.
- Diverse projects are being worked on including T-Bears, and language specific SDK (software development kit)
theloop is actively hiring for the following positions (click the link if interested):
- QA automation
- and more
Part 2 will focus on the presentation of Deblock, along with the 5 Dapps Demo presentations and evaluation.
By Markus: https://twitter.com/markusjayvc
Disclaimer: Blockhack does not provide investment advice. I am not a financial advisor.