ICONSENSUS: P-Rep Election Campaign Updates — P-Rep TestNet & Pre-voting

Greetings from the ICON Team,

, the consensus between ICONists to achieve full decentralization of the ICON Network, is on track. The P-Rep election, which is the most significant turning point in the ICON Network’s history, will be set to take place in September, and a total of 10 P-Rep candidates have applied so far in the keen interest of all the ICONists. To evolve the ICON Network into a fully autonomous decentralized network, the ICON Foundation announces two major updates.

1. ICON TestNet Opens for P-Rep Candidates

At the end of April, ‘TestNet for P-Reps’ will be open for P-Rep candidates to experience their roles in block production and verification in advance. The TestNet operation policy will be guided through ‘ICON P-Reps,’ a private Telegram channel dedicated to P-Rep candidates. Each candidate will have access to the ICON TestNet under the support of the ICON Foundation. For more information on how to join ‘ICON P-Reps’ Telegram channel, please visit ICON.community (https://t.me/iconcm).

Before September comes, every P-Rep candidate will be able to check their resources in advance by installing the ICON Network’s software and running their own servers. The data collected during the period will be utilized for the decentralized ICON Mainnet, and further announcements will be updated in real time via the ‘ICON P-Reps’ telegram channel and GitHub at the end of April.

2. P-Rep Pre-voting, the start of P-Rep On-chain Registration & Voting

In early August, the ICON Foundation will start offering ‘P-Rep Pre-voting’ for all ICONists to experience what it is like to vote for a P-Rep candidate.

P-Rep Pre-voting, which will take place in early August, allows all ICONists to stake ICX and delegate authority using the ICONex wallet. Additionally, all P-Rep candidates will be able to register their information on the ICON Network in advance and start their marketing campaign.

Key points and brief rules on ‘P-Rep Pre-voting’ are as follows:

  • All P-Rep candidates can register their candidate information on-chain.
  • All ICONists may delegate their stake to any registered P-Rep candidates.
  • Even if a P-Rep candidate is delegated with the stake, the candidate is still not elected as the actual P-Rep, and the real decentralization will start September 2019.
  • P-Rep candidates that receive votes will not receive any block rewards during this period. Rewards during this period are only for voters.
  • All ICONists who have participated in P-Rep Pre-voting will be rewarded for their delegation of stake. The reward will come from the ICX held by the ICON Foundation.

More details will be revealed before August when the ’P-Rep Pre-voting’ begins, so please stay tuned to ICONSENSUS!

Thank you,

Hyperconnect the World


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