The unique value proposition for ICON can be broken down into 4 categories. Performance & scalability, transaction fees, interoperability, and developer-focused incentives.
Performance & Scalability
ICON is based on DPoC (Delegated Proof of Contribution) model, an improved version of DPoS (Delegated Proof of Stake), with near instant finality (one confirmation). ICON also approaches scalability with sharding techniques, combined with a multichannel architecture where each SCORE state is independent of each other. This makes it easy to scale out, and currently each channel has a transaction throughput of 1,000 TPS.
Transaction Fees
ICON has a flexible fee structure. SCORE operators can share transaction fees with their users upon their choice of sharing percentage. SCORE operators can also stake to earn Virtual Step to pay for transaction fees.
Interoperability
ICON’s goal of hyperconnecting the world is enabled through the unique implementation of BTP (Blockchain Transfer Protocol). The protocol will enable blockchains within the ICON network to exchange value similar to that of a decentralized exchange. Service invocations are also possible, where execution of a smart contract on another blockchain will share the same result. BTP further enables horizontal scaling similar to the side chain approach.
Incentives for Developers with IISS
IISS will provide sufficient rewards to not only P-reps, but also to DApps that offer value-added services and developers who have a positive impact on the ICON ecosystem.
Teams that contribute significant transactional or technical improvements to the ICON network can be rewarded with ICX Incentives through IISS, even before the business model is established and profitable.