Hello, ICONists and all crypto fans and enthusiasts! We’re thrilled to reveal our fresh Biweekly report on the thriving and progressive decentralized community that has spread across the world and already become one of the most revolutionary and collaborative communities in the dynamic crypto world!

ICON’s ecosystem strengthens day by day and it will never slow down its pace! The ICON Project aims to build a decentralized network that allows independent blockchains with different governances to transact with one another without intermediaries. The core principles that underlie the ICON network are: decentralization, interoperability, and governance.

The previous month was rich in different activities performed by ICON’s core team in collaboration with the passionate and devoted P-Reps!

Are you ready? It’s going to be a long and exciting journey along the boundless ICON’s roads! Make sure you seat belts are securely fastened!))) Let’s get started!

The team was excited to release 2020 roadmap focused on four major themes: Network Enhancement, Open Source Enhancement, Governance System Update and BTP and Sidechain. These are the most important focus areas for the expanding ecosystem and will be crucial to attract new network participants and improve the incentive structures for contribution.

Moreover, the core team has finished its research on LFT 2.0 and has since started working to implement this into ICON network. Additionally, the team has begun researching the Sidechain design and IISS 3.0 revisions including the anticipated timeline to implement both of these features. You’ll learn more details on these items in the coming months.

ICONLOOP’s Josh Choi introduced the decentralized identification (DID) service MyID at Hashnet Blockchain Conference 2020. DID, which verifies your identity without the involvement of a mediating institution, is a new type of identifier on public key infrastructure. The identification code is composed of a value from a method, DID and special characters. Enter this DID address, and you can get a saved DID document. DID attempts to resolve the problems of existing ID methods such as breaches of personal information, unnecessary repetition of ID confirmation procedures and increasing verification costs. It’s safe from hacking, while the use of a public key means there’s little chance of your data getting leaked.

Read the interview with ICONLOOP CEO Kim Jonghyup and journalist Jeong Inseon. On the 13th, Jeong Inseon met with Kim and learned what kind of digital ID ecosystem ICONLOOP and My ID Alliance are drawing. This article is an English translation of the Coindesk Korea. The translation was provided by P-Rep team ICON DAO.

The DeFi platform is coming to ICON! Balanced is the first DeFi project on the ICON Network. It is a collaborative effort between ICX Station, PARROT9, Galen Danziger of Mousebelt, and Dan Brehmer of iBriz-ICONosphere. The main goal is to create the de-facto form of payment for the ICON ecosystem through giving ICX another use case: collateral. Balanced is a DAO (Decentralized Autonomous Organization). It incentivizes people to deposit their ICX as collateral and borrow tokens pegged to the value of real world assets. The first token will be the ICON Dollar, which is pegged to USD.

Seoul Metropolitan Government will be launching its revamped citizen participation platform “Democracy Seoul.” The revamped platform adopts ICONLOOP’s ‘loopchain’ blockchain engine to prevent the altering or forging of voting data and to implement a one-person, one-vote enforcement through a real-name verification system. The key goal is to enhance the practical use of citizens’ suggestions by streamlining the process for citizens’ suggestions to become policies. Falsification and tampering will be prevented by applying blockchain technology and a one-person-one-vote system will be realized through the real-name authentication system.

In this Biweekly we’ve also focused on the recent events and developments of ICON’s main P-Reps!

Read on and stay tuned!