About ICON

ICON, established in August 2017, has dedicated itself to developing a robust Layer 1 (L1) ecosystem that facilitates sustainable cross-chain interactions. Recognizing the challenges that applications face in navigating cross-chain complexities—such as security, scalability, and speed—ICON provides a comprehensive solution. Its Cross-Chain Framework simplifies the development process through the xCall General Message Passing feature, which allows for seamless communication between different blockchains. This framework not only enhances operational efficiency but also helps applications build momentum and establish a credible presence in the market. The ICON network is powered by its native cryptocurrency, ICX, which serves multiple functions within the ecosystem. It acts as the gas token for transactions on the L1 blockchain and as a fee token for cross-chain operations via xCall. A notable aspect of the ICX tokenomics is the burning mechanism, where a significant portion of the fees collected in ICX is permanently removed from circulation, potentially increasing the token's value over time. This structure supports a growing network of connected blockchains and integrated bridging protocols, making ICON a pivotal player in the evolving landscape of cross-chain technology.