• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Ripple CTO Steps Down, Accepts New Offer – What You Need To Know
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Ripple CTO Steps Down, Accepts New Offer – What You Need To Know
ICON P-Rep elections

ICON’s P-Rep Elections Booming; 40+ Applications Listed

Bitcoinist
by Bitcoinist
5 years ago
·
Posted in Sponsored Article, Altcoin News, Altcoins, News teaser, Sponsored stories
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

It’s been over five months since the pre-registration for the first leg of ICONSENSUS began. The number of applicants continues to grow. Specifically, the nominees (there are currently 43 of them) have been registering to become Public Representatives, or “P-Reps”.


While under the radar for a while, ICON is a South Korea-based blockchain project designed to interconnect independent chains along with their communities. 

ICONSENSUS, is described as “a journey toward mass adoption of blockchain”, with a roadmap comprised of four different milestones. Currently, the ICON community is preparing for the first stage: the election of “P-Reps”. 

P-Rep Elections: What Makes It Special?

P-Reps resemble Proof-of-Stake (PoS) validators in the sense that they are also responsible for verifying transactions and submitting blocks on the blockchain. 

However, P-Reps’ responsibilities are broader: successful candidates will be expected to contribute to the network through participating in consensus and governance.

According to the network’s developers, ICON’s governance model is different compared to most DPoS projects, in the sense that it delegates rewards based on a variety of contributing factors instead of simply taking validators’ stake into account. 

Moreover, ICON’s upcoming elections will reportedly differ from those of TRON and EOS — two large PoS networks, who have been recruiting large, well-known operations to take part in their governance system. ICON, in turn, has been betting on the community at large, as the entry requirements seem inclusive.

By ICON’s design, every side is supposed to have its cut: P-Reps will get to choose their own benefits which are then reviewed and confirmed by ICX holders during the election stage, while the voters are given redeemable tokens for delegating their stake. Additionally, successful P-Rep delegates will collect transaction fees and annual representative awards. 

Therefore, while decentralization has been perceived as a somewhat utopian concept (the general consensus is that no project is 100% decentralized), ICON’s incentives appear to fall within that direction due to their inclusive, democratic model — which seems to be a first for the space.

Notably, the model has already attracted two candidates from South Korea, who had previously worked as validators on the EOS chain. Disappointed in reduced revenues, lack of power, and the monopoly of Chinese block producers, they are now planning to switch to the ICON network.

What’s Next?

The actual P-Reps election is scheduled to launch in September this year. Unlike the pre-registration phase, which is being conducted off-chain, the main leg will be launched on the ICON blockchain.

Meanwhile, some candidates waste no time: a number of P-Rep applicants have already started seeking votes among ICONists on social media, introducing them to their ideas while learning what the public wants. 

Although the election is fast approaching, the general atmosphere among the applicants stays collegial: “I’m really enjoying being a part of something where many teams win, it’s a very inclusive competition that promotes cooperation over controversy,” one of the candidates wrote on Reddit. 


 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Bitcoinist

Bitcoinist

Follow

Bitcoinist is the ultimate news and review site for the crypto currency community!

Full Profile

Related Posts

Altcoin 24H Futures Volume Surpasses BTC and ETH: Warning Sign Or Market Shift?

Altcoin 24H Futures Volume Surpasses BTC and ETH: Warning Sign Or Market Shift?

1 day ago
Why the Crypto Market Is Down Today: BTC, XRP, and ETH Struggle Against the Bears

Why the Crypto Market Is Down Today: BTC, XRP, and ETH Struggle Against the Bears

1 day ago
Ripple

Ripple CEO’s Past Words On XRP’s Utility Resonate Today As Community Awaits ETF Decision

2 days ago
Nowa fala adopcji kryptowalut

Bitcoin, XRP i nowa fala adopcji kryptowalut. Co przyniesie ostatni kwartał 2025 roku? 

2 days ago
Tether

Tether’s Half-Trillion Valuation Goal Catches Ark Invest’s Attention

3 days ago
Bitcoin & Ethereum Lead Decline as Altcoins Shed Double Digits

Bitcoin & Ethereum Lead Decline as Altcoins Shed Double Digits

3 days ago
Please login to join discussion

Premium Sponsors

Press Releases

  • As the Tapzi Fundraiser Continues to Generate Buzz, Could It Be One of This Year’s Best Crypto Presales?

    As the Tapzi Fundraiser Continues to Generate Buzz, Could...

    17 minutes ago
  • 距離上線僅剩3周:Snorter代幣ICO融資突破 415...

    1 day ago
  • 上線倒計時:僅剩25天可搶購 Snorter Bot 代幣

    5 days ago
  • 加密錢包掀起發幣熱潮 Best Wallet...

    1 week ago
  • Bitcoin Hyper

    ChatGPT предсказва следващата 1000x...

    1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.