ICON Foundation
ICON Foundation is a non-profit organization founded in 2017, focused on supporting open development for decentralized technologies. It specializes in blockchain, cryptocurrency, and artificial intelligence, and operates a layer 1 delegated proof-of-stake blockchain optimized for cross-chain development.
Company Overview
ICON Foundation is a non-profit organization founded in 2017, operating within the Software Development industry. With a team size of 16, it is classified as a small business. The foundation is headquartered in Zug, Switzerland, and focuses on supporting open development for decentralized technologies. ICON Foundation operates as a public-benefit organization, prioritizing funding for infrastructure and product development related to blockchain interoperability.
Blockchain Specialties
ICON Foundation specializes in various aspects of blockchain technology, including distributed ledger technology, cryptocurrency, and decentralization. The organization emphasizes the importance of a distributed network and has expertise in artificial intelligence and machine learning. These specialties enable ICON to contribute effectively to the development of decentralized systems and applications.
Key Projects and Protocols
ICON Foundation is involved in several key projects, including the ICON Network and ICON's General Message Passing, which standardizes cross-chain messages across interoperability protocols. The foundation has developed the Blockchain Transmission Protocol (BTP), a chain-agnostic messaging protocol that facilitates communication between different blockchains. Additionally, its projects are integrated with Cosmos IBC and ICON BTP protocols, enhancing cross-chain functionality.
Financial Support and Development Initiatives
ICON Foundation provides financial support for the development of decentralized technologies. It advises on business and technology development practices and offers support for Java smart contract execution for building cross-chain decentralized applications (dApps). The foundation's Incentive Scoring System (IISS) is part of its economic model, and it employs a Contribution Proposal System to ensure the security and integrity of proposals.
Cross-Chain Solutions
The foundation's Cross-Chain Framework enables native cross-chain asset swaps and borrowing, enhancing liquidity across different blockchain networks. Balanced, a flagship decentralized exchange (DEX) and lending platform, is integrated with Sui for cross-chain liquidity, allowing users to swap cross-chain assets and borrow against INJ on Balanced. ICON Foundation plans to deploy Sui contracts to the mainnet, further expanding its cross-chain capabilities.