The ICON Foundation has recently published their Yellow Paper which outlines their path towards full decentralization, can you tell us more about the goals ICON has on their path to achieve to reach full decentralization?

The role of a node that participates in consensus (usually known as miners on other networks) on the ICON Network, or on any blockchain network for that matter, is an extremely important role. Nodes that participate in consensus control the supply of money. In traditional economies, this is the role of a central bank; a role that is not taken lightly.

This is why ICON is designing a governance system that is not only fully decentralized, but attempts to get new money supply in the hands of those with the best interests of the network in mind.

Through our “Delegated Proof of Contribution”, as detailed in Section 3.3.1 in the Governance paper, we hope that those with the highest contribution to the network are also those that are governing the network. For example, ICON currently has 40 nodes, and when the Delegated Proof of Contribution system is implemented those in the top 40 rankings of personal I_Score + delegated I_Score will have the right to run a node that participates in consensus (either a C-Rep or P-Rep). Delegated I_Score will be received via individual ICONists choosing to delegate their I_Score to another node rather than compete themselves for a spot in the top 40.

To elaborate on the difference between a C-Rep and P-Rep, a C-Rep is a node that is connected to both ICON Nexus and another blockchain (community). A P-Rep, on the other hand, is a node that only maintains ICON Nexus. This creates a balanced ecosystem in which both communities and ICON-only participants have representation when it comes to governance decisions.