ICON P-Reps

Pocket and Figment submit ICON’s first multi-company P-Rep Proposal

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Pocket Networks and Figment Networks have joined forces in submitting a P-Rep proposal to build a decentralized infrastructure for ICON DApps and provide a scalable P-Rep node to the ICON network.

ICON is an ambitious blockchain technology focused on “hyper-connecting the world” through a fast, dynamic, scalable, blockchain architecture that offers decentralized liquidity and interoperability between blockchain platforms.  The next step in ICON’s evolution begins in September with the release of their new Delegated Proof of Stake consensus algorithm and decentralized governance structure. ICON holders will vote on selecting 22 P-Rep Nodes to maintain the ICON network through block production and provide leadership for the ecosystem’s future.

P-Reps are incentivized to not only run a competent node, but also provide unique ways to add value to the ICON ecosystem.  This is where a Pocket and Figment joint proposal stands out. Pocket adds value by contributing developer and administration resources to building a decentralized node infrastructure to streamline ICON DApp development, while Figment takes on the technical operations of running a P-Rep node.  By combining the talents from each company into a single P-Rep team, the Pocket/Figment P-Rep offers comprehensive and more ambitious contributions to the ICON ecosystem.

Pocket Networks plans to build a decentralized node infrastructure with two major goals:

  1. Steamline DApp development by enabling the ICON DApps to connect with a decentralized pool of ICON nodes, thus freeing developers from needing to run a centralized ICON node to service their DApps.
  2. Provide ICON node owners with a new stream of revenue for serving DApps on this decentralized node infrastructure.

This is possible by Pocket’s decentralized node infrastructure technology.  While Ethereum’s DApp ecosystem is heavily reliant on a centralized node service, called Infura, ICON’s ecosystem can be foundationally trustless from the start with a decentralized node solution.  Pocket will actively contribute to the development of ICON via the ICON SDK and provide support to DApps and ICON node owners.

Figment Networks, a leading staking service provider, will provide ICON with a secure, scalable P-Rep node for top-tier network resiliency. With extensive experience in actively serving customers in DPoS and POS blockchains, Figment will be the managing force behind the P-Rep node itself, ensuring uptime and reliability with a mixed hardware and multi-cloud environment. In combination, Figment and Pocket bring a deep knowledge base in areas of blockchain technologies, DApp development, network infrastructure, decentralized governance, and blockchain ecosystems.

ICON is building a future-focused platform around blockchain interoperability, reserve based liquidity, VM free smart contracts, and the Pocket\Figment P-Rep is excited to contribute.