ICON’s Interoperability Technology: Blockchain Transmission Protocol (BTP) Explained
There are a lot of projects that pop up in the crypto space all the time, and they’re competing to become the future home of all dApps.
Projects are racing to prove the fact that they are the best and they always promise immediate scalability, transaction throughput, and more.
ICON’s mission is to hyperconnect the world
ICON is focused on connecting all these blockchains, and in a recent Medium post, they explain their mission to hyperconnect the world.
Hyperconnecting the world involved interoperability and the technology that ICON uses in order to make it all possible is called Blockchain Transmission Protocol (BTP).
In order to be able to realize the blockchain’s maximum potential, the team at ICON wants distinct protocols to have compatible ways to interact and communicate with one another.
They should also have the ability to interoperate at the protocol level as well.
The team explains in an extremely detailed article all the details involving BTP.
BTP 1.0 is finally here! Check out the interoperability demo video on our youtube page and the blog post below! This is a HUGE milestone for the #ICONProject and we’re excited to see where this technology can take us!https://t.co/9XWEYSxj3c
— ICON (@helloiconworld) May 28, 2020
What is BTP?
BTP (Blockchain Transmission Protocol) is a “standard that renders heterogeneous blockchains interoperable, including blockchains that entail completely different consensus models and algorithms,” according to the official post.
Interoperability is defined as the ability to facilitate value transfer, data exchange and service invocation as well.
We recommend that you check out the complete Medium post for all the details and in-depth data.
In terms of pricing, ICX is currently trading in the green and it’s placed on the 41st position on CMC. At the moment of writing this article, ICX is trading at
It’s up by more than 5% in the past 24 hours.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.