ICON Blockchain Network Shares Yellow Paper and MainNet Version 3.0 Update

ICON Releases Its Main Net Version 3.0 Update And The Yellow Paper

An announcement on ICON Foundation’s Medium blog reported the release of the latest update of the ICON Main Net version 3.0. The ICON SCORE (Smart Contract on Reliable Environment) development platform has benefited greatly from the latest update as infrastructure to develop decentralized applications (DApps) on ICON blockchain.

ICON Developers Release TestNet Network

The ICON development team opened the TestNet in conjunction with the Main Net that allows users to test their decentralized applications (DApps) before launching them on the Main Net. This will assist developers improve their platforms technologically to provide an efficient, scalable and instant platform.

The update will allow the developers to build and test ICON service on their private platforms once ICON’s blockchain nodes are registered in the AWS Marketplace via the AWS cloud. Furthermore, the DevNet will also be developed by the team at ICON Foundation to support the local development environment for testing via the AWS Marketplace.

Yellow Paper Released With Changes In The 0.01 ICX Fee

The ICON Main Net update also introduced new fee structures abolishing the fixed 0.01 ICX fee to a more sophisticated way to calculate the fees. This is to reduce the overall fees for transactions hence promoting transactions and development on the ICON blockchain.

The Yellow Paper was released on September 17^th 2017 gave full details on the expected fee structure that included new measures which are devised for the Smart Contract Executor DApp in an aim to further reduce the burden of fees on the network.

ICONex & ICON Tracker

Lastly, the ICON Main Net Version 3.0 update included updates of the ICON Tracker and ICONex, a global solution provider of innovative solutions that power commerce around the world. Some of the major changes on the ICONex AND ICON Tracker include adding tokens, viewing smart contracts as well as recording and verifying data on blockchain. Further details on the updates were released confirming the PC and Mobile (Android and iOS) updates will be released after launching the Main Net update.

ICON Foundation has had a rather successful year on the development front since they launched the Main Net back in January. They have in the past year launched the Deblock and ICX station, completed a couple of institutional partnership, signed developmental MOU’s, opened a developer’s platform all in light to reach the global goal to “ Hyperconnect the World”.