Paradigm
Paradigm
Aug 21 · 9 min read

Biweekly update 7th Aug — 21st Aug

During the last two weeks, ICON illustrated hight social activity. Firstly, ICON announced the P-Rep Pre-Voting event, allowing ICONists and P-Rep candidates to experience and understand the voting process to delegate their stake to the right candidate to become a public representative. During the Pre-Voting Period, ICON will be giving away up to 3 million ICX as a reward for early adopters of staking and voting. Plus The P-Rep candidates can register on-chain and start accumulating delegated stakes, while all the participating ICX holders will receive the voting reward. Secondly, ICONLOOP has signed a strategic partnership with Yeolmae Company. This partnership aims to prevent forgeries and theft by recording ownerships of jointly purchased works of art on the blockchain. Finally, ICON released their Staking Guide filled with information and visual aids. More to follow!

Development

Github metrics
Developer activity (from Coinlib.io)

Social encounters

According to a Coindesk article, the Seoul Metropolitan Government will establish its first blockchain-based government services this November.

The three services that will be implemented by the November deadline are:

1. S-COIN

Once the city’s blockchain point system is introduced, residents of Seoul will receive S-coins when they use public services, such as paying taxes and participating in public opinion polls. Afterward, they will be able to redeem those points for rewards. Seoul’s point system will be integrated with Zeropay, a city-government sponsored mobile payment system. Citizens can pay for goods with S-coin via Zeropay without charging merchants commissions.

2. BLOCKCHAIN ENHANCEMENT OF SEOUL CITIZENS CARD

Giving the Seoul Citizens Card a full blockchain enhancement will simplify digital authentication for the use of public services. Also on the list is a blockchain service that would allow people to submit qualifications without paper documents.

3. PART-TIME WORKER’S RIGHTS PROGRAM

This blockchain-based system will facilitate employee-employer relations by allowing part-time and temporary employees to more easily and conveniently sign contracts with employers, keep track of their work histories, maintain timesheets and help them register for Korea’s four major social insurance programs. The goal of this system is to improve trust and create consensus between small companies and part-time workers.

Smart healthcare, donation management and online certificate verification were also mentioned during the conference but have no year-end completion deadlines.

The Coindesk article explained that while the blockchain services will be controlled by the city, they will be operated by private enterprises. And now, here’s something ICONists will be happy to hear: ICON Foundation Council Member Min Kim, confirmed ICON’s involvement in these projects.

Upcoming events:

The next ICON Meetup with HPB will take place on August 29th at ICON Lounge. It’s a great opportunity to meet the HPB team and learn about the Hyperblock, a blockchain platform recognized for their fast speed, scalable and secure high-performance blockchain technology. Daniel Kwak, Business Director of Asian Markets will give a presentation and there will be Q&A with participants. In addition, BongAn Ha, Cryptoeconomics Architect at ICON Team, will present the overview of ICON Network.

  • Meetup: ICON X HPB Meetup
  • Date: 19:30 pm — 22:00 pm on August 29th, 2019
  • Location: ICON LOUNGE (map)
  • RSVP: https://www.meetup.com/ICON-Lounge/events/263859859/
  • Airdrop Event: HPB team will randomly pick 10% of participants who joined the Kakao & Telegram community channel and give a 500HPB Airdrop per person.

Finance

The number of transactions dynamics (information from tracker.icon.foundation)

Prior to the on-chain election, the ICON is pleased to announce the P-Rep Pre-Voting event from August 26th to September 24th for 30 days, allowing ICONists and P-Rep candidates to experience and understand the voting process to delegate their stake to the right candidate to become a public representative.

During the Pre-Voting Period, ICON will be giving away up to 3 million ICX as a reward for early adopters of staking and voting. The P-Rep candidates can register on-chain and start accumulating delegated stakes, while all the participating ICX holders will receive the voting reward. Anybody holding ICX during the Pre-Voting Period has the opportunity to stake and delegate their tokens to earn their share of the giveaway.

1. Pre-Voting Period

  • Begin: Block height: 7,560,000 (2019 August 26th UTC 05:00)
  • End: Block height: 8,856,000 (2019 September 24th UTC 05:00)

2. Guidelines for ICONists

  • ICONists will be able to vote directly through their ICONex wallet via an updated UI/UX to support staking and delegation.
  • ICONists who participated in the Pre-Voting are eligible to receive a voting reward calculated every day, which will be distributed from a total of approximately 3 million ICX reward pool.
  • How to Participate: Check out the ICONex Wallet Tutorial on the Pre-Voting event page

>>> ICONist: Learn How to Vote

3. Guidelines for P-Rep Candidates

  • Any individual or team who wishes to be a P-Rep candidate during the Pre-Voting period can pre-register as a P-Rep candidate on the ICON Network on-chain.
  • On-chain registration will require a 2,000 ICX registration fee, which will be burned effective immediately.
  • Delegated stakes through Pre-Voting will be accumulated until the on-chain elections in September. The P-Rep rewards, including delegation reward and the block production reward, will be available only after the implementation of decentralization and the election of P-Rep candidates. Please note that during the Pre-Voting, there will be no representative reward as P-Rep candidates will not produce nor verify any blocks as P-Reps.
  • Early Registration is highly recommended.P-Rep candidates can register when the block height is 7,560,000.
  • ICON Network decentralization will be activated at the block height of 8,856,000 assuming all of the top 22 P-Rep candidates have received at least 1,600,920 ICX in delegation.
  • How to Participate: Check out the Pre-Voting Guide for P-Rep candidates for how to install nodes and related documents

>>>P-Rep Candidates: See P-Rep Pre-Voting Guide

The purpose of the Pre-Voting period is two folds. Firstly, in the spirit of decentralization, ICON will be giving away 3 million ICX to further dilute ICON’s percentage ownership of the network and give more power to individual ICONists that participate in this early adopter program. During the Pre-Voting Period, ICON will be diluting itself in order to give more power to the individual ICONist.

Secondly, this is an opportunity to stabilize the network prior to launch by allowing votes to balance out between all P-Rep candidates. ICONists are strongly encouraged to spread their delegation across multiple P-Reps to prevent the centralization of power.

See also:

Roadmap

I. Governance

Election

-P-Rep Election Feature (In development → Stabilization)

IISS

- The incentive distribution function for P-Reps and Voters(In development → Stabilization)

Transaction Fee System

- Fee sharing between DApp provider and users (Stabilization → Completed)

- Virtual Step (Stabilization → Completed)

II. Services based on ICON

DID

- Launch DID feature in ICONex Wallet (Stabilization → Completed)

What’s next?

  • Interoperability with heterogeneous chains launch by the end of 2019
  • ICON interchain protocol BTP will be available by the end of 2019
  • The first ICONgress will be organized in 2019

Partnerships and team members

ICONLOOP has announced to apply its blockchain-based certificate issuance service ‘broof’ to ‘ARTnGUIDE’, the first online service platform in Korea for co-purchasing works of art operated by Yeolmae Company.

ICONLOOP has signed a strategic partnership with Yeolmae Company for this collaboration. This partnership aims to prevent forgeries and theft by recording ownerships of jointly purchased works of art on the blockchain, managing them reliably, and disclosing the details of transactions transparently.

‘ARTnGUIDE’ is the first online service platform in Korea for co-purchasing works of art. It contributes to the popularization of the investment in works of art and the market revitalization by providing the gateway to own high-priced art pieces, which have a high entry barrier in terms of price, with just a small amount of investments. Showing the significant difference from existing ETH-based service, which only recorded ownerships of arts on the Ethereum blockchain, the partnership with ICONLOOP not only allows “ARTnGUIDE” to record ownerships of jointly-purchased works of art but also record the images of arts on the ICON public blockchain.

‘broof’, which is applied to ‘ARTnGUIDE’, is ICONLOOP’s blockchain-based certificate issuance service that supports certificate issuance, storage, and prevention of falsification based on the ICON public blockchain network. ICONLOOP is trying to create a more reliable and secure certification system through ‘broof’, planning to expand the implementation of this service in various fields in our society. This partnership is significant as it is the first case of applying blockchain-based certificate issuance service to the art market.

About Yeolmae Company

Founded in November 2016 with the aim of popularizing and vitalizing the art market, Yeolmae Company operates ‘ARTnGUIDE’, an online service platform for co-purchasing works of art, and the Art Lounge ‘Chiehwadam’, a space for group purchasers. Yeolmae Company is currently managing co-purchasing works by renowned Korean artists such as Lee Joongseop, Kim Hwanki, Lee Woohwan, and is expanding globally to include renowned foreign artists. Selected to ‘TIPS’ program run by the Ministry of SMEs and Startups in November 2017, Yeolmae Company has been developing analytical technologies of information of art price based on artificial intelligence and big data and planning to apply them to the platforms currently in operation for more reliable art information.

Rumors

No updates

Social media metrics

Social media activity
Social media dynamics
Social media dynamics

The charts above illustrate a slight decline in the number of Telegram and Twitter followers. In general, ICON foundation experiences an average level of social activity.

The graph above shows the dynamics of changes in the number of ICON Reddit subscribers, Twitter followers, and Facebook likes. The information is taken from Coingecko.com.


This is not financial advice.

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Paradigm fund

Paradigm is a family office fund investing in crypto space since 2013. We are a group of industry experts & crypto enthusiasts consisting of PhDs and graduates from the top universities with experience in creating startups, trading on traditional financial markets and blockchain

Paradigm

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Paradigm

In chaos lies the truth

Paradigm fund

Paradigm is a family office fund investing in crypto space since 2013. We are a group of industry experts & crypto enthusiasts consisting of PhDs and graduates from the top universities with experience in creating startups, trading on traditional financial markets and blockchain

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