ICON Path To Sustainable Economics
ICON is a project that has been gaining massive credibility and support among enthusiasts. They also believe that the project’s digital asset will be gaining more value based on the trajectory that it had this year so far.
At the moment of writing this article, ICX is trading in the red, and the coin is priced at $0.332101.
The Path To Sustainable Economics
One important issue that ICON touches is what the team calls Path To Sustainable Economics. They have a post on Medium in which the team details what this means exactly.
After receiving meaningful community feedback we are excited to share our view on more sustainable economic policy for the #ICONProject. Read below to learn about i_rep and it’s new, more understandable name, the “P-Rep Commission Rate”https://t.co/bNLRJIWT0z
— ICON (@helloiconworld) May 26, 2020
In the post on Medium, the ICON team addresses the fact that other networks such as Tezos and Cosmos have the concept of a commission or fee charged by the block validators.
Validators get block rewards and these are passed on to voters after the validators take their commission for the service provided.
The explanation continues and we recommend that you check out the Medium post in order to learn all the details.
According to the post, “the ICON Network is no different, and for that reason i_rep will soon be expressed as something more easily understandable in all documentation: “P-Rep Commission Rate”.”
The post also details the ways in which ICON is different compared to the projects mentioned above.
Here are some of the differences highlighted by the report:
*ICON’s block reward distribution to voters is handled by the network itself instead of by individual P-Reps
*There is a network wide commission rate rather than commission rates charged by individual P-Reps
*Commission is paid through dilution.
Take a look at the complete post in order to learn more.
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Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.