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About ICON
ICX is the native cryptocurrency of the ICON blockchain, a Layer 1 network focused on cross-chain interoperability. Launched in 2017, the ICON Cross-Chain Framework utilizes the xCall General Message Passing protocol to facilitate seamless communication between disparate blockchains. Within this ecosystem, ICX serves as the primary utility token used for transaction fees (gas), cross-chain communication fees, and governance. The network employs a Delegated Proof of Stake (DPoS) consensus mechanism, allowing ICX holders to stake their tokens and vote for validators to secure the network. Additionally, a portion of the fees collected in ICX is burned to manage the token supply.
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