ICON Foundation Reveals ICON 2.0

The ICON Foundation, a company that runs a blockchain platform self-described as “one of the world’s largest decentralized networks. ICON’s blockchain is used for real-world applications in banking, healthcare, education, and more,” has just announced ICON 2.0, an architecture with a focus on DeFi and chain interoperability, according to a press release from the group.

ICON 2.0 should be a seamless upgrade for current users, and features and entirely rewritten language in the form of Golang. “Most importantly, the platform will launch with interoperability features to support and power cross-chain DeFi solutions, which is clearly a driver of the next wave of cryptocurrency adoption and blockchain use cases. At launch, the ICON Foundation will deploy all necessary smart contracts on high-profile blockchains and will also run the relayers. ICON 2.0 is expected to be complete by Q2 2021,” the release continues.

One of the platform’s most touted features is that of interoperability, as well as its BTP interoperability protocol, it also notes.

“BTP is a general purpose interoperability protocol, however, it will come standard on ICON 2.0 with a specific initial use case in mind. ICON will be supporting interoperability with other public blockchains in order to support cross-chain DeFi solutions. At launch, the ICON Foundation will deploy all necessary smart contracts on high-profile blockchains and will also run the relayers, however, any individual or group may run a private relayer with their own fee system.”

Various other features are discussed in the release.