Greetings from the ICON Team,
It is the last day of April, and it already looks like early summer! The ICON Team has continued to work hard in April following the first quarter and will share the development status updates we have focused on. Please see our recent achievements and plans below.
In May, P-Rep candidates and those who want to sign up can set up ICON nodes in advance and operate blockchain testnets. P-Rep candidates can prepare for stable network operation by pre-emptively installing ICON nodes and configuring networks before the election of P-Reps in the third quarter.
The Interchain Development Team is in the process of commercialization after the design and POC verification of the BTP protocol for interconnecting private chains with public chains. Through the Merkle Proof and Validator verification in heterogeneous chains, the risks of Oracle’s falsification and fakes have been solved. This opens the way for enterprise chains to work with ICON’s public blockchain. The ICON Team will also provide an environment in which tokens and data published in the internal private chains of companies can also be distributed on to ICON’s public blockchain.
DEX implementation is complete and ready to be published on the ICON GitHub. The ICON Team will guide anyone on running the DEX service through the sources and guidelines published on our GitHub. Please feel free to contact the ICON Team if you want to operate the DEX service.
The development of a feature that allows DApp providers and service users to control or avoid paying fees is nearly complete and in the QA phase. If the QA is completed quickly, it will be launched in May, but may be launched in June if an additional stabilization period is required. By using Fee 2.0, DApp providers can have service users to avoid paying fees or have them pay fees with Virtual Step* generated through staking instead of the actual ICX.
(*Virtual step is a system to mitigate the burden of transaction fees. SCORE operators can receive and utilize Virtual Step by agreeing to deposit a certain amount of ICX for a given period of time.)
The ICON Team is working on a project to issue Fiat money as IRC2 (ICON mainnet-based tokens) with a strategic partner. ‘Stable token’ will be ‘pegged’ to the value of Fiat money and used as a ‘price-stable token’ like Tether (USDT). Within the first half of the year, the Stable Token Issuance Service will be opened and you will be able to trade Stable tokens on the exchanges that we are currently under negotiations with.
ICON DPASS (DID)
‘ICON DPASS,’ a new decentralized identity service, will be released in May. Users will be able to keep their personal information in the DPASS app (iOS and Android) and access multiple existing services and apps without repeating authentication procedures (KYC).
Blockchain based Certification
The ICON Team plans to provide a service to issue various certificates based on the ICON blockchain in June. This service is in the same form as Seoul Blockchain Governance Team’s mobile letter of appointment that is created using ICON’s public blockchain and will be provided as an open service. By issuing certificates on blockchain, permanent archiving is possible without issuing paper documents and allows for certificates to be easily issued, viewed, and verified anywhere via mobile.
The ICON Development Team will continue to sprint in accordance with the planned milestone in May. We are striving to ensure that our outputs are not just blockchain technologies, but services that give users and companies values that they have never before experienced before. We are also organizing and packaging ICON’s blockchain technologies into the ICON BaaS Platform to make it easier for companies to adopt these technologies. Please look forward to them!
-ICON Development Team
ICON Development Roadmap Update — Apr 2019 (>> Detailed ICON Development Roadmap)
- Fee sharing between DApp providers and users (In development → Stabilization)
: Share transaction fees between DApp providers and users
- Virtual Step (In development → Stabilization)
: Support fee payment in Virtual Step by staking ICX
<Services based on ICON>
- Alpha version of DID Smart Contract (Stabilization → Complete)
: Manage ID certifications from diverse issuers
- Launch DID feature in ICONex wallet (In development → Stabilization)
: DID feature integrated in ICONex wallet
- Alpha version of Smart Contract for key management (Stabilization → Complete)
: Support management and restorage of keys through Vault
- Launch Vault feature in ICONex wallet (In development → Stabilization)
: Decentralized key management feature integrated in ICONex wallet
- DEX service for IRC token transactions (In development → Stabilization)
: Support IRC token transactions for IRC holders through DEX service
- Launch a service based on Stable Coin (In research → In development)
: Launch a service based on Stable Coin with a business partner
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