ICON is one of the largest blockchain networks in the world. Our decentralized network allows independent blockchains with different governances to transact with one another without intermediaries. ICON is a vision with a proven track record and has progressed beyond the initial concept stage. ICON already boasts independent blockchains comprised of reputable institutions in major industries — banks, securities, insurance, hospitals, universities, and more. ICON is a delegated proof-of-stake (DPoS) network, which means a majority of stakeholders delegate their share of the network – in this case, ICX – to registered validators that produce blocks and participate in governance. ICON’s DPoS consensus lets non-technical stakeholders benefit from staking without having to set up a node or join a staking pool. On ICON, ICX holders can stake and delegate ICX to validators – entities that have registered to participate in governing the ICON blockchain. This DPoS implementation offers the best of both worlds – stakers can passively earn rewards, while technical individuals that are actually interested in setting up infrastructure and governing ICON can do so.
The ICON blockchain is governed by validators. To become a validator, a team or individual must go through an on-chain registration process which includes paying a 2,000 ICX registration fee. Following registration, a validator can start receiving delegation in the form of staked ICX.