Messaging Giant LINE Is Launching Its Own Cryptocurrency

UPDATE (09:55 UTC, Aug. 31, 2018): This article has been updated to include a comment from LINE on the technical aspects of the blockchain.


Messaging giant LINE has become one of the first publicly traded companies to have launched a proprietary blockchain mainnet with its own cryptocurrency.

Revealed in an announcement Friday, the firm said that the genesis block of its LINK Chain was produced on Aug. 23. The messaging giant now aims to gradually issue a total of 1 billion of the network’s LINK tokens, of which 800 million will be distributed to public users while the rest will be held as a company reserve.

Rather than adopt an initial coin offering model, LINE will issue the tokens as an incentive for users who participate in its decentralized applications (dapps) built on top of the LINK Chain network. According to LINE’s white paper, it is now eyeing a deadline in September for the rollout of an initial two dapps, with over 10 to be released by the first quarter of 2019.

A spokesperson for LINE explained some of the technical aspects of the blockchain protocol, telling CoinDesk:

“We need fast confirmation time for a service-oriented blockchain platform. Thus the consensus algorithm of LINK Chain is delegated proof-of-stake consensus and practical Byzantine fault tolerance.”

The LINK token will be added to LINE’s newly launched BITBOX cryptocurrency exchange for trading in September, as an alternative way for users to acquire the crypto asset, the release added. The tokens can be further used as a payments means within LINE’s existing ecosystem.

The firm specified in the announcement that BITBOX is currently not a licensed exchange platform in Japan by Financial Services Agency. As such, residents in the firm’s home country are only able to receive what’s called a LINK Point for the time being, which will be exchangeable for the full crypto asset once BITBOX becomes licensed in Japan.

Intriguingly, LINE, a Japanese firm, launched the blockchain and its exchange platform via a new subsidiary established in April in Singapore called LINE Tech Plus PTE.

The launch marks the latest move by the company in seeking to integrate blockchain into its existing business ecosystem.

Early in August, LINE also announced an initiative to launch a $10 million token fund to foster development in the blockchain and cryptocurrency ecosystem.

LINE app image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.



Author:

Source link

Related posts

21 Thoughts to “Messaging Giant LINE Is Launching Its Own Cryptocurrency”

  1. Zena Vanderkar

    Some truly nice stuff on this site, I love it.

  2. Tulip Hifu 高強度聚焦超聲波療程

    除皺特點 純度高,效果好 見效迅速,無創無痛 安全精準,表情自然 唯一在臨床有20多年的注射材料,全球超過11000000人使用 適用範圍 魚尾紋、額頭紋、眉間紋、鼻紋和頸部皺紋都可以祛除; 最適合於早期的、不太明顯的皺紋 不須使用任何的鎮靜劑或局部麻醉劑,且Botox除皺治療後可立即繼續進行正常的活動。 Botox除皺可以利用午休時間約診即可,完全不影響工作的安排。BOTOX肉毒桿菌素是一種高度純化的蛋白質,經過注射之後,能夠使導致動態皺紋的肌肉得到放鬆,它能夠阻斷導致肌肉收縮的神經細胞,使面部線條變得平滑並防止新皺紋形成。全球銷量第一品牌 在中國唯一獲得SFDA、FDA批准用於醫療美容的肉毒桿菌素 唯一一個擁有40年安全記錄的肉毒桿菌素 在70個國家獲得批准使用 BOTOX肉毒杆菌素

  3. 醫學美容-柔滑-格仔舖-cosmetic-wiki

    ▌團購▌哺乳媽媽必備的集乳神器❤韓國cimilre新貝樂F1可攜式集乳器&S3醫院級集乳器❤(46~411現貨團加送免手持配件包) @ 潮流、美妝、消費 創造個人化風格的女性社群 PIXstyleMe ▌團購▌哺乳媽媽必備的集乳神器❤韓國cimilre新貝樂F1可攜式集乳器&S3醫院級集乳器❤(46~411現貨團加送免手持配件包)

  4. Football Solutions Artem Kravets (FC Dynamo Kyiv)

    Barkley’s switch from Everton was completed on January 5 — the eve of the tie which was drawn at Carrow Road — but not, the Chelsea manager discovered on Sunday, before midday deadline. Chelsea cock-up: Antonio Conte unable to blood Ross Barkley in FA Cup replay with Norwich as they did not complete £15m transfer in time

  5. futbol.run Under-21 2004 - History - Belarus-Czech Republic Statistics

    Aston Villa skipper Ron Vlaar is battling to overcome the calf injury, which forced him out of last weekend’s game at Arsenal, in time for Monday’s home Barclays Premier League clash with Manchester City. ASTON VILLA v Manchester City: Vlaar set for fitness test after returning to training

  6. futbol.run Mallo

    EDGE OF THE BOX: Saturday was derby day on the telly. Both BT Sport and Sky Sports had picked a peach from either end of the country. Harry Kane and north London win Oscar for best derby as Steven Gerrard and Merseyside drops to supporting role

  7. Leatrice Castle

    Manual

  8. Darwin Kellison

    As a website developer I believe the content here is really awesome, regards.

  9. Karine Stehle

    As a website developer I believe the content here is really great, regards.

  10. Hermila Sweigart

    This is a excellent blog, would you be involved in doing an interview about just how you designed it? If so e-mail me!

  11. Bryanna Ovens

    Finding the Right Immigration Solicitor… […]below you’ll find the link to some sites that we think you should visit[…]…

  12. Leatrice Castle

    The article posted was very informative and useful. You people are doing a great job. Keep going.

  13. buy mdma molly online

    … [Trackback]

    […] Find More Info here to that Topic: tradingbtc.com/2018/09/02/messaging-giant-line-is-launching-its-own-cryptocurrency/ […]

  14. https://lists.ofono.org

    … [Trackback]

    […] Read More on that Topic: tradingbtc.com/2018/09/02/messaging-giant-line-is-launching-its-own-cryptocurrency/ […]

  15. mijn cam4

    … [Trackback]

    […] Here you will find 45310 additional Info to that Topic: tradingbtc.com/2018/09/02/messaging-giant-line-is-launching-its-own-cryptocurrency/ […]

  16. sbo

    … [Trackback]

    […] Info on that Topic: tradingbtc.com/2018/09/02/messaging-giant-line-is-launching-its-own-cryptocurrency/ […]

  17. sbobet

    … [Trackback]

    […] Find More here on that Topic: tradingbtc.com/2018/09/02/messaging-giant-line-is-launching-its-own-cryptocurrency/ […]

  18. cc seller

    … [Trackback]

    […] Read More here on that Topic: tradingbtc.com/2018/09/02/messaging-giant-line-is-launching-its-own-cryptocurrency/ […]

  19. marijuana gummies to order

    … [Trackback]

    […] Read More Information here on that Topic: tradingbtc.com/2018/09/02/messaging-giant-line-is-launching-its-own-cryptocurrency/ […]

  20. clone plastic card dumps

    … [Trackback]

    […] Read More on on that Topic: tradingbtc.com/2018/09/02/messaging-giant-line-is-launching-its-own-cryptocurrency/ […]

  21. mushroom microdosing capsules

    … [Trackback]

    […] Find More here on that Topic: tradingbtc.com/2018/09/02/messaging-giant-line-is-launching-its-own-cryptocurrency/ […]

Leave a Comment