ICON (ICX) is a blockchain with the goal of "connecting crypto to the real world and advancing our society towards true hyperconnectivity". ICON aims to reach this goal by connecting independent blockchains and enabling transactions between them.
To do this, ICON uses the self-developed Loop Fault Tolerance (LFT) consensus mechanism. Built on on the Byzantine Fault Tolerant (BFT) Tendermint mechanism, LFT improves it by increasing performance through a consolidation of network messages.
ICON has a total supply of 800,460,000 token. During the ICO, an ERC-20 token, ICX, was sold, which was subsequently moved to the mainnet in June 2018.
ICON considers itself to be governed alike to an indirect democracy. To this end, ICON makes use of representation channels, reserve channels and incentives to align the votes of nodes and users.