- Governance is a key component of ICON blockchain
Governance is a key component of ICON blockchain.
ICON is operated under Delegated Proof of Contribution, a variation of DPoS consensus mechanism. Public Representatives in the ICON ecosystem are encouraged to contribute back to the ecosystem. ICX holders are also encouraged to add value back to the ICON ecosystem by voting for public representatives that will add most value.
ICX holders can receive 6 - 36% (current: 16%) reward for participating in the governance through staking and voting for Public Representatives.
Governance smart contract will track ICX holders staking, voting for Public Representatives, and claiming their voting rewards.
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