News

ICON (ICX) announces theloop rebranding, ICX repurchase program and open source release schedule

ICON (ICX) is one of the largest inter blockchain networks in the world, striving to connect different blockchains to build a more valuable and scalable network. loopchain, the core blockchain engine that powers the ICON Network, is currently being applied by real enterprises such as banks, securities firms, hospitals, and universities.

On August 7, the ICON team announced theloop rebranding, ICX repurchase program and open source release schedule.

theloop rebranding

theloop, ICON Foundation’s main technology partner, has agreed to rebrand itself to ICONLOOP. The change will take place immediately, but will be fully reflected on the website and other marketing materials in near future.

The new brand is expected to unify and improve ICON’s brand positioning in Korea and the global market.

“The rebranding makes a lot of sense as we are now finally ready to push the ICON project here in Korea,” – said JH Kim, CEO of ICONLOOP. – “Our team is fully committed to contributing to the ICON project and servicing the ICON Foundation.”

$5 million ICX repurchase program

The ICON Foundation council members have unanimously approved its first ICX repurchase program. The new ICX repurchase program authorizes the foundation to repurchase up to $5 million of currently circulating ICX.

Repurchases under the foundation’s program will be made in open market or privately negotiated transactions subject to market conditions, applicable legal requirements, and other relevant factors.

Open source release schedule

Beginning this week, and for the next two months, ICON is sequentially releasing source codes and documents to its GitHub.

There will be several releases. The most important updates will provide DAPP projects the ability to run a full-scale token sale with ICX and develop basic smart contracts. In addition, the ICON team will provide smart contract versioning capabilities, a special feature that differentiates their service from others.

Scheduled releases for the next two months:

  • ICONex Desktop :Desktop wallet for Chrome browser plugin
  • ICONex Android: Wallet app for Android
  • ICONex iOS: Wallet app for iOS
  • Nano S Integration: ICONex Desktop and Ledger Nano S HW wallet support module
  • Java SDK V3: Java-based SDK that works with ICON network
  • Python CLI: Python-based CLI tool that works with ICON network
  • Python SDK V2: Python-based SDK that works with ICON network
  • Python SDK V3: Python-based SDK that works with ICON network
  • T-Bears: Python-based SCORE Development and Emulation Tool
  • ICON Service: Module supporting ICON main functions, linked with blockchain core
  • loopchain: Blockchain engine that supports LFT-based consensus
  • Citizen Node: Full node that does not participate in consensus but supports all functions
  • IIP/IRC: standard protocol and token standard of the ICON network
  • AWS Marketplace registration: Infrastructure for SCORE development
  • Yellow Paper on fee system
  • Yellow Paper on IISS
  • Yellow Paper on ICON governance