ICON’s BTP Interoperability Ecosystem To Integrate Algorand

ICON's BTP Interoperability Ecosystem To Integrate Algorand
  • All current integration will be linked directly to Algorand.
  • The ICON network’s native cryptocurrency is ICX.

The Algorand Foundation announced a grant partnership with ICON. ICON has been awarded an Algorand Foundation Bridges SupaGrant to integrate Algorand into ICON’s BTP Interoperability Ecosystem, helping support the growth of a vibrant, diverse and thriving Algorand ecosystem. 

To ensure the security of Algorand’s BTP integration, Algorand’s external partner will conduct a security assessment of the bridging interface. Algorand has joined the BTP Working Group’s increasing network of interoperable connections with this BTP integration.

Silvio Micali and his team of top scientists created the Algorand protocol and open-source software, which the Algorand Foundation is committed to using to achieve the worldwide potential of blockchain technology. The Algorand Foundation has a vision for an inclusive ecosystem that allows everyone to benefit from the promise of a fair and genuinely borderless economy, based on its basic ideas about the construction of an open, public, and permissionless blockchain.

Flagship Interoperability Solution

ICON is a new-generation blockchain technology featuring smart contract capability and interoperability founded in 2017 by the ICON Foundation. The ICON network’s native cryptocurrency is ICX. ICON accomplishes as an aggregator chain, a web of interconnecting networks that aggregates all blockchain data onto one layer. ICON’s “Blockchain Transmission Protocol” (BTP) is a groundbreaking interoperability solution that connects all integrated blockchains.

Using encryption, BTP is ICON’s flagship interoperability solution, both decentralized and trustless. The BTP ecosystem presently includes Algorand, ICON, Binance Smart Chain, Polkadot and Kusama ecosystems, Harmony, Near, with a few more to be added shortly. With Algorand’s connection to the BTP partners, all current integration will be linked directly to Algorand.

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