February ICON Development Update 2020

2020 Roadmap Recap, LFT 2.0, Sidechain and IISS 3.0

Greetings ICONists,

Last month we were excited to release our 2020 roadmap focused on four major themes that we hope to improve upon this year. Those four themes are 1) Network Enhancement, 2) Open Source Enhancement, 3) Governance System Update, and 4) BTP and Sidechain. We believe these categories represent the most important focus areas for our expanding ecosystem and will be crucial for us to onboard new network participants and improve the incentive structures for contribution.

This month, we are happy to announce that the core team has finished its research on LFT 2.0 and has since started working to implement this into ICON network. Additionally, the team has begun researching the Sidechain design and IISS 3.0 revisions including the anticipated timeline to implement both of these features. We hope to share more details on these items in the coming months.

LFT 2.0 Summary

  • LFT 2.0 is a next-generation BFT consensus algorithm that improves upon the existing LFT algorithm.
  • LFT 2.0 generates blocks through consensus by round-basis, like the BFT algorithm, and each round consists of two phases, the Propose Phase, and the Vote Phase.
  • LFT 2.0 can achieve high performance in the way that the current block’s state is confirmed in the next block. LFT 2.0 improves latency and TPS compared to PBFT as block confirmation time and state confirmation time are the same.
  • We will release more details on LFT 2.0, including a whitepaper, in the coming weeks.

Sidechain Summary

Sidechain is a new layer of the ICON network which is focused on the SCORE execution environment. Sidechain will be connected with ICON network and provide high scalability and support a reliable smart-contract environment with a virtual machine. With this update, the ICON network which originally originated from the interchain vision will fully focus on interchain and governance transaction processing. As we noted in our 2020 roadmap, all business logic related to smart contacts will be handled on this layer independently. However, the economic and governance systems of the Sidechain must technically depend on the root chain so we will implement this into ICON’s IISS and on-chain governance system.

IISS 3.0

As you know, IISS is the contribution measurement and incentive distribution system for ICON’s decentralized autonomous network. The core team has been experimenting with IISS since decentralization and has been collecting data for research and improvement. An IISS 3.0 upgrade is currently being researched which includes both the design, the scope of development and timing. Our goal will be to move towards a stronger contribution-oriented DAO based on game theory and an improved voter behavior economy.

This will not be accomplished by the core team but through the participation of all community members. We hope to share more details in the coming weeks.

Thank you,

ICON Foundation

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