To understand ICON infrastructure and what ICON is, we have to understand what loopchain is.
loopchain is a high-performance enterprise blockchain with Smart Contract features that can be customized according to operational needs and linked with other distributed ledger networks.
as an example: two completely different companies. They both want to develop their own blockchain. Each can decide to use loopchain but can tweak how exactly it operates, as well as it’s governance model in order to serve their unique needs.
LFT and LFT2 Consensus Algorithms
LFT (Loop Fault Tolerance) is an enhanced BFT (Byzantine Fault Tolerance) — based algorithm that promotes faster consensus and ensures the finality of the consensus without the possibility of forks within the network.
When a new transaction gets broadcasted to the network, nodes have the option to include that transaction to their copy of their ledger or not. When the majority of the actors which comprise the network decide on a single state, a consensus is achieved.
LFT2 is a revolutionized Practical BFT implementation that enjoys the same benefits with reduced complexity and enhanced performance in network latency, block confirmation, and transaction throughput.
SCORE (Smart Contract On Reliable Environment)
SCORE — Smart Contract provided by loopchain. SCORE ensures a high-performance since it runs directly in realtime.
One of the key characteristics of SCORE is the repository based versioning features. Generally, when a Smart Contract is updated, data migration is required. However, with our versioning capability, Smart Contract does not require data migration with every update. This means that Smart Contract update process is easy and quick. It provides a local repository by default for SCORE distribution, and developers can easily deploy and update Smart Contracts by using a remote repository called SCORE Store.
Developers are free to utilize SCORE with several different programming languages, so it’s ultimately more accessible for developers.
BSI (Blockchain Signature Infrastructure)
BSI is based on Smart Contract to enables the construction of digital signature infrastructures like Public Key Infrastructure.
Users: Generate PKI-based key pairs and manage issued certificates
Registration Authority: Identifies the user and requests for certificate issuance
Certificate Authority SCORE: Provides services related to certificate issuance by Smart Contracts on loopchain
We would like to express our special thanks to our sponsors:
ICON Foundation Ubik Capital Russell (thelionshire) — Ubik Capital
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