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Line launches its own cryptocurrency and blockchain network

Line is growing its attendance in the cryptocurrency cosmos in a big way. A month after ablution its own cryptocurrency barter desk BITBOX, the Tokyo-based messaging titan has now launched its own cryptocurrency called ‘LINK’ alongside a blockchain arrangement called ‘LINK Chain’.

In an advertisement made on its website, Line says there will be no antecedent coin alms (ICO) for the LINK tokens, which will be accessible only as rewards for using decentralized applications (dApps) within the Line ecosystem. The LINK token will become accessible on BITBOX barter desk in September.

A total of one billion LINK tokens will be issued, of which 800 actor will be accessible as user rewards; Line will retain the actual 200 million.

However, the cryptocurrency will not be accessible in its home country of Japan due to authoritative acquiescence issues. The company’s Japan-based users will instead accept “LINK Points” as rewards.

These tokens can be spent only within the LINK Chain ecosystem or exchanged for Line Points. LINK Points can’t be deposited, withdrawn, transferred, traded, or exchanged at cryptocurrency barter desks.

It is worth noting that BITBOX casework are also not accessible in either Japan or the US. Line hasn’t antiseptic whether LINK tokens will be accessible in the US.

According to Line, the alpha block (the first block in any blockchain) of its LINK Chain arrangement was mined on August 23.

The blockchain currently serves as the basis of the LINK cryptocurrency, but Line wants to build several dApps on it over the course of an year.

According to LINK’s roadmap, two new dApps will be launched in September, and addition ten should be up and active by March 2019. Line will also animate and abutment others to build dApps over its network, as part of its plan to become a arch “digital reward platform.”

Line claims that its all-encompassing acquaintance in architecture belvedere basement and large scale-out networks means that it can easily affected some of the better challenges with blockchain such as scalability issues and wait-time in processing the transactions. But the company’s white paper is devoid of any abstruse details, and we don’t know how Line plans to accomplish such a feat, while the entire industry is disturbing to do so.

Nevertheless, Line seems to be very aflame about venturing deeper into the agenda assets space. Earlier this month, it also appear a $10 actor cryptocurrency-exclusive adventure fund.

Published August 31, 2018 — 11:18 UTC

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