ICON - the blockchain technology firm that aims to bring true democratization to the online cryptocurrency community, is making great headway in its ICONSENSUS proceedings.

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With more than 40 candidates already submitting their application, it is likely that competition is going to be extremely fierce once the voting process begins in September.

The Road to a Truly Decentralized Blockchain Ecosystem

For those unaware, ICONSENSUS refers to the project’s long-term journey towards decentralized blockchain governance. The concept is centered on a grassroots approach, insofar that the entire platform will be governed in a democratic manner, with potential candidates coming from all walks of life.

At the very start of this journey is the Public Representative (P-Rep) voting process. In a nutshell, 22 main P-Reps, alongside 78 sub-P-Reps, will be elected by the ICON community (ICONists).

Successful candidates - of which 40 have already put their names forward, will be responsible for performing key duties, such as validating blocks and keeping the network safe, as well as implementing network upgrades that have reached consensus via the ICON community.

“The only way ICON could successfully hyperconnect the world is if we become truly decentralized and collaborate with one another for a better future”, says Min Kim, ICON Co-founder. “ICONSENSUS is our path towards that vision, and I’m happy we’re finally arriving to the P-Rep elections stage and seeing such strong participation rate.”

Similar in Nature to the EOS Voting System

The ICONSENSUS election process is very similar in nature to the route EOS took last year. Through its Approval Voting system, EOS asked its token holders to vote for their preferred block producer candidates, of which 21 are now in place. However, some within the blockchain arena argue that true decentralization is far from a top priority for the EOS project.

More specifically, the underlying governance model has been highly criticized by the cryptocurrency community. For example, it was reported in late 2017 that one of the EOS arbitrators made the highly controversial decision to reverse a blockchain transaction without consulting the owner. The reason this left the EOS community somewhat uncomfortable is that such a decision goes completely against the overarching concept of decentralization.

With that being said, the team at ICON are on a strong mission to ensure that decentralized governance in its purest form is achieved. In order to realize these ambitions, the journey starts from the ground-up via the ICONSENSUS voting campaign.

The Time Is Now to Get Involved

In summary, it appears that the vision of ICON and its ICONSENSUS journey is gaining rapid traction in the blockchain space. With more than 40 candidates already putting themselves forward for the September voting campaign and are actively engaging with the community, we are likely to see some top-notch talent.

With this in mind, potential P-Rep candidates will really need to work hard to put their case forward to the ICON community, and thus, every vote will count.