Instant messaging platform Line launches its own blockchain and cryptocurrency

Instant messaging platform Line launches its own blockchain and cryptocurrency

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Answer Instant messaging platform Line launches its own blockchain and cryptocurrency

Messaging giant Line has become one of the first major companies to announce the launch of a major blockchain network and its own digital currency.

The company revealed in an announcement today, Friday, that its “LINK” blockchain was formed on August 23. The giant messaging platform “Line” aims to issue nearly one billion digital currencies “LINK Tokens” within its network, and 800 million digital currencies will be distributed to users and the rest will be kept as a reserve for the company.

The platform will not go for an initial coin offering (ICO), but will distribute cryptocurrencies as an incentive to users who participate in its decentralized applications (dApps) that will be built on the main blockchain network “LINK”.

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According to the special working paper, the platform is now working to launch two decentralized applications in the month of September, with more than 10 decentralized applications to be launched by the first quarter of 2019.

The digital currency “LINK” will be added to the BitBox platform, which was recently launched by the “Line” company. The digital currency can also be used within the existing ecosystem of the platform.

Note that the BitBox platform is not currently licensed in Japan, so residents of Japan – the company’s original headquarters – will get the so-called LINK points to be redeemed after obtaining official licenses.

It is worth noting that LINE is a Japanese company that launched a blockchain network and trading platform through a branch in Singapore called LINE Tech Plus PTE.

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This announcement is part of the company’s move to integrate blockchain technology into its existing ecosystem. Line also announced an initiative to promote development in the field of blockchain and cryptocurrency through a $10 million fund.

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