The Algorand Foundation today announces their 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. The BTP integration for Algorand will also receive a security audit by an external partner, with potential support for future maintenance and upgrades to the bridging integration. This BTP integration sees Algorand join the growing web of interoperable connections within the BTP Working Group.
BTP is ICON’s flagship interoperability solution, technology that is both decentralized and trustless, and is secured entirely through cryptography. With the addition of Algorand, the BTP ecosystem now comprises the Algorand, ICON, Binance Smart Chain, Polkadot and Kusama ecosystems, Harmony, Near, upcoming sister-chain ICE, and canary network SNOW. All existing integrations will be directly connected to Algorand, while Algorand’s integration will connect them to all of the BTP partners. As ICON continues to expand this interconnected web of public blockchains, it becomes increasingly attractive for additional projects to join their ecosystem.
Founded in 2017 by the ICON Foundation, ICON is a next-generation blockchain protocol with smart contract functionality and interoperability. ICX is the native cryptocurrency of the ICON network. As an aggregator chain, ICON achieves interoperability— a web of interconnected networks aggregating all blockchain data into one layer. ICON’s “Blockchain Transmission Protocol” (BTP) is its novel interoperability solution, allowing all integrated blockchains to be interconnected to each other. Current BTP partners include Binance Smart Chain, Polkadot, NEAR Protocol and Harmony. ICON also has a growing DeFi ecosystem that includes projects such as Balanced DAO, Omm Finance, Optimus Protocol and Equality Exchange.
About Algorand Foundation
The Algorand Foundation is dedicated to fulfilling the global promise of blockchain technology by leveraging the Algorand protocol and open-source software, which was initially designed by Silvio Micali and a team of leading scientists. With core beliefs in the establishment of an open, public, and permissionless blockchain, the Algorand Foundation has a vision for an inclusive ecosystem that provides an opportunity for everyone to harness the potential of an equitable and truly borderless economy.