ICONLOOP is the company contractually obliged to build out the ICON public chain, and a leader in implementing private enterprise blockchain solutions. The ICON Project was created to meet the demand for interchain and natural movement of the market from private ICONLOOP blockchain networks to the ICON public blockchain. The ICON Council Members consider interoperability between private ICONLOOP networks to be the next critical step for the ICON public chain, and resources are being allocated accordingly to reflect this. The ultimate goal is to connect Private ICONLOOP networks to ICON via the ICON Nexus in order to interoperate with each other and the public chain, and each of these transactions will require ICX for transaction fees.
This is a great response to all the FUD that’s been going around lately. ICON has been very transparent with their plans since the beginning, and the overall strategy is very simple to understand. At its core, ICON is a blockchain project centered around interoperability. By definition, an interoperability layer requires other systems to interface and exchange information with. Without third parties to connect, ICON’s most important use case is rendered useless.
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