[ICON] Week 2 ICONick Update

Last week, we announced our strategic partnership with ICON foundation to work on the ICONick Name Service (INS). Today, we are going to talk about the development update we have done on the INS.

What is ICONick Name Service

ICONick Name Service (INS) is a nickname service for ICON users. It as an easy wallet ID that can be used to replace the default complicated wallet address. For instance, users can choose an ICONick, “nickname.icon”, to transfer ICX instead of the current address like “hx6049803f47301f0…”. The same name could also be used for joining and using the ICON dApps, DEX service, and for interacting with the smart contract deployed on ICON. In one word, ICONick provides users an easier way to access the ICON ecosystem.

What is Loopchain

For the first week, our engineers have been working on Loopchain, the underlying decentralized protocol of ICON. Loopchain is a high-performance blockchain that can support real-time transactions based on efficient smart contract system. It is composed with 4 main features :

  1. SCORE (Smart contract of ICON)
  2. LFT Algorithm (Consensus)
  3. Tierred System (Different rights for different participants)
  4. Modular Architecture (Customizable modular units)

As Portal Network will be working towards providing INS on ICON platform, we will first deploy on SCORE.

What is SCORE

SCORE, also known as Smart Contract on Reliable Environment, refers to a smart contract supported by Loopchain. It is a high-performance smart contract that runs independently on a peer (node) without any separate virtual machine. SCORE uses Python and follows the dependency of Loopchain. Portal Network will deploy SCORE that will enable users to register their ICONick.

Week 2 Updates

This week, we have successfully set up an ICON node at our local environment.

This is the image that shows we have started the ICON testnet for development.

We have also deployed a SCORE contract. It is a simple “hello world” contract and we were able to get the following result:

response : {
"jsonrpc": "2.0",
"result": "Hello",
"id": 1
}

Thank you for reading.

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