New users may have a wide range of new questions regarding the ICON 2.0 blockchain, so we decided to help them figure things out quickly if they lack information. In this FAQ, everyone will find the most important information about the ICON 2.0 network.
What is ICON 2.0?
ICON 2.0 is a brand new software; a faster, more stable, and scalable high-performance blockchain that inherits the current ICON Network. ICON 2.0 will come standard with interoperability features to support and power cross-chain DeFi solutions. At launch, the ICON Foundation will deploy all necessary smart contracts on high-profile blockchains and will also run the relayers.
What is Python SCORE Executor?
Python SCORE Executor provides a pure Python execution environment that will be operated in a separate process from the consensus engine. It can execute the already deployed Python SCOREs on the ICON network as it is. By separating the executor process from the consensus engine, we can handle infinite loop and instability issues of Python SCOREs.
What is Java SCORE executor?
New SCORE developers can also use Java as their programming language. That is because SCORE is written on Java and it runs on the Java virtual machine, eliminating the need for an audit process, one of the major pain points for developers on the current ICON Mainnet.
ICON 2.0 and BTP
The general-purpose interoperability protocol BTP will become standard on ICON 2.0. The specific use case for this is that it will be supporting interoperability with other public blockchains to support cross-chain DeFi solutions. When launched, the ICON Foundation will deploy all the needed smart contracts on high-profile blockchains and run the relayers. ICX holders can pre-register (at that time) in preparation for a decentralized relayer network.
What is Vote Spreading?
This solution is a novel solution for systematically decentralizing Decentralized Proof-of-Stake Networks, where inactive voters have their ICX spread to all top 100 P-Reps.
What is IISS 3.1?
ICON 2.0 gives us more freedom to design a cleaner and more easily understood economic design. The basic structure of IISS 3.1 follows the structure of IISS 3.0 already discussed in the community. However, the IISS 3.1 design simply divides inflation into a few different predefined categories. For example:
- P-Reps: 17.5%
- Relayers: 2.5%
- Contribution Proposal Fund: 10%
- Voters: 70%
What is CPS?
The Contribution Proposal System (CPS) is a governance and funding mechanism that is being developed to support contributions to the ecosystem. The CPS should enable any ICONist to apply for funding within the network, and the Registered P-Reps will decide to grant this funding. The funding mechanism of the CPS is still under debate.
What is Contribution Proposal?
A Contribution Proposal is a request for funding submitted by an ICONist to fund a specific initiative in an effort to grow the value of the ICON Network. A Contribution Proposal has a broad range, including but not limited to: Community building initiatives, non-profit infrastructure projects (analytics platforms, developer tools, ecosystem tools, loopchain core code enhancements, BTP bridges, etc.), educational projects, developer community initiatives, and bootstrapping for-profit businesses built on ICON
What is Contribution Proposal Fund ?
Funding for contribution proposals comes from ICX held in the Contribution Proposal Fund (CPF), which is a smart contract on the ICON Network funded by block rewards. The amount of ICX is dependent upon governance decisions by ICON P-Reps. The maximum size of the CPF at any given time will be 1,000,000 ICX, however, this cap is subject to change by voting on a Network Proposal. If the CPF reaches the ICX cap, any additional ICX sent to the CPF will be burned.
How to use CPS?
https://medium.com/ibriz-iconosphere/how-to-use-the-contribution-proposal-system-1efe714c9182
Icon 2.0, Security Tokens, Regulations by Min Kim
Take a look — https://www.youtube.com/watch?v=5u-zr8pegHg
What is BTP?
BTP (Blockchain Transmission Protocol) is a standard that renders heterogeneous blockchains interoperable, including blockchains that entail completely different consensus models and algorithms. Here, we define interoperability as the ability to facilitate value transfer, service invocation, and data exchange. These siloed operating blockchains can securely anchor transactions through a universal standard as a trustless settlement layer.
What is ICE?
A new EVM compatible blockchain called “ICE” is coming to ICON. ICE will become the application hub for the ICON Project.
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