Monday January 25, 2021
Bitcoin (BTC) $33,736.00   Ether (ETH) $1,377.10
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
NEWSLETTER SIGNUP
EXCHANGE 300+ COINS
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas.net
No Result
View All Result
Home Networks & Protocols

Conflux Network integrates with South Korean blockchain ICON

Conflux and ICON have fostered a strategic partnership with the common goal of supporting cross-chain interoperability beyond their respective China and South Korean markets...

Published by CryptoNinjas.net
09/15/2020

Conflux Network, a state-endorsed public, permissionless blockchain project out of China, today has announced a strategic technical partnership of its cross-chain protocol with ICON Foundation, the catalyst of the largest blockchain network in South Korea powering numerous decentralized applications run by enterprises, government, and financial institutions.

Through leveraging one another’s interoperability technology – Conflux’s Shutteflow and ICON’s Blockchain Transmission Protocol – the partnership enables increased growth potential for Conflux and ICON, as development on one network can bring volume and transactions to the other.

ICON’s recently developed smart contract technology, Blockchain Transmission Protocol (BTP), handles on-chain communication and facilitates the transfer of value, service invocation, and data exchange between networks through a uniform and standardized send-and-receive process, maximizing token and enterprise data exchanges, and ultimately, cross-chain interoperability.

“In collaboration with BTP, Conflux Network can now gain access to ICON’s growing ecosystem, including its digital identity solutions, such as myID” said Eden Dhaliwal, Global Managing Director at Conflux. “Paired with ICON’s expertise in decentralized identity and inclusion into the South Korean fintech space, our partnership will continue to foster scalable, secure, and extensible interoperability technology to Conflux’s growing ecosystem.”

In a similar fashion, ICON will leverage Conflux’s cross-chain asset protocol, ShuttleFlow, to connect Conflux Network’s growing decentralized finance (DeFi) space with ICON’s ecosystem. ShuttleFlow involves multi-signature wallets and custodian nodes, which monitor wallets, initiate burn/mint transactions, and lock/unlock assets on not only Conflux Network but also a wide variety of other networks.

“After speaking with the Conflux team, it’s clear that we had the same intentions for growing adoption in our respective markets while building applications with real-world use,” said Ricky Dodds, Strategy Lead at ICON. “We are excited to partner with Conflux to expand our global connectivity, as South Korea and China continue to bring blockchain more mainstream, and interoperability – using BTP and ShuttleFlow – will allow applications to grow and strengthen the expanding market potential in both countries.”

By leveraging one another’s cross-chain protocols, industry clients, developer, and user communities, and national support entities, Conflux Network and ICON can continue to foster a connected, global ecosystem in which blockchain technology is interoperable throughout endless industry applications and growing networks.

8
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related Posts

Shanghai government invests $5M in blockchain project Conflux

01/12/2021

ICON blockchain expands DeFi ecosystem with ETH Orbit Bridge integration

12/16/2020

Conflux Network and Commons joins forces to accelerate growth for decentralized communities

12/08/2020

Korean payment giant Danal joins ICON blockchain ecosystem

11/12/2020

ICON’s 2.0 blockchain is built for cross-chain interoperability and DeFi apps

09/17/2020
ICONLOOP CryptoNinjas Funding

South Korea’s ICONLOOP launches blockchain KYC certification service

08/26/2020
Load More
Leave Comment

Recent Updates

Moonbeam and Ocean Protocol to bring a new data economy to Polkadot

Crypto exchange HitBTC adds 18 new leveraged trading markets

Blockchain ecosystem Nimiq launches new incubator initiative

Crypto portfolio platform Coinigy adds new exchanges to its V2 architecture

NEM Ventures launches 2021 NEM Ignite incubator program

Where to Exchange

Bit2MeLeading Spanish Bitcoin ExchangeVisit
BL3P
European Bitcoin ExchangeVisit
ChangellyExchange & Buy 150+ CryptocurrenciesVisit
itBitAmerica's First Regulated Bitcoin ExchangeVisit

Trending Views

Zilliqa tokenizes rare single-malt scotch whisky casks, now available to accredited investors

Crypto payment and wallet project TenX shuts down

GateHub launches Wallet Protect to cover up to $100K for XRP ledger wallets

Billions of dollars in bitcoin becomes available to creditors of Mt.Gox bitcoin exchange

Japan’s Coincheck lists Enjin Coin (ENJ) after regulatory approval

  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2021 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact

© 2021 CryptoNinjas Disclosures | Privacy Policy


Go to mobile version