Check Out This Exciting Interview Series With ICON’s Founder Min Hokim

ICON has been making a lot of headlines this year despite the global crisis that has been triggered by the coronavirus pandemic.

Now, the ICON team revealed great news, and they posted the following tweet which is a repost from Flipside Crypto:

Addressing a recent release of a new transmission protocol

Min Kim, Founder of the ICON blockchain, addressed their recent release of a new transmission protocol that can connect different blockchains together.

For Starters, he explained at a high level how the new  “Blockchain Transmission Protocol” which is meant to enable interoperability between blockchains works.

“Our Blockchain Transmission Protocol, or BTP, enables data exchange between different blockchains. Any blockchain that supports smart contracts and guarantees finality can be easily connected to the ICON blockchain through BTP. It is also possible for two blockchains that do not talk to each other to indirectly transmit data through the ICON network,” he said.

He continued, “How BTP works is quite simple. We first deploy BTP core component smart contracts (namely message verifier, message center and service handler) to the two blockchains that want to connect.”

He also explained that “Then, we install external relayers (in grey below) to monitor BTP events, gather proofs for these events and relay the messages from one chain to the other. The relayed information will be bundled as a transaction.”

Driving traffic to blockchains

He also made sure to highlight what this means for ICON and whether the move will be driving traffic to the blockchain.

He said that the main goal is to drive traffic, but not only to the ICON blockchain, but on many others as well. He also addressed the important issue of scalability and concluded: “We also plan to connect public blockchains together.”

We recommend that you check out the complete interview in order to learn more interesting details.


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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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