ICON is designed to be a massive scale ecosystem, allowing different blockchains connecting to one another through their protocol. This means that universities, security firms, banks, hospitals and other private blockchains will all be able to share information through ICON's online ledger without intermediaries.
It doesn't follow traditional protocols that could be found in Ethereum or other cryptocurrencies. The revolutionary new system uses its own proprietary LFT (Loop Fault Tolerant) consensus algorithm.
LFT (Loop Fault Tolerance) is an enhanced BFT (Byzantine Fault Tolerance) 32-based algorithm with benefits that include faster consensus while ensuring the finality of the consensus without the possibility of forks within the network. In normal everyday terms this means... It rocks!
Consensus essentially means agreement so this system has a way of ensuring all parties agree much faster than its competitors resulting in speedy high tech transactions and applications.
If it still doesn't make sense, look at it this way, LFT supports faster consensus by creating a group among trusted nodes.
LFT can accommodate diverse consensus structure by allowing such groups or nodes to freely determine the number of votes. This may still not make sense but don't forget, it rocks!
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