Messaging giant LINE has just announced that it will launch its own cryptocurrency called LINK, which will be exclusively available on their own cryptocurrency exchange BITBOX. The Tokyo-based app will become one of the first publicly listed companies to launch its own cryptocurrency. The LINE token will be launched on its own blockchain network, LINK Chain, the genesis block for which was produced on August 23rd. LINK Chain will allow dapps to be directly integrated with the LINE messaging platform.
However, LINE has not gone down the traditional ICO route with its LINK token. Instead, users will be able to acquire LINK by using LINE’s wide range of services and dapps. These tokens can then be used for payments in dapps for service categories such as content, commerce and gaming, among others. A total of 1 billion LINK tokens will be gradually issued, out of which 800 million will be allocated for user rewards. LINK tokens can also be bought on BITBOX.
According to the LINE white paper, the company will release the first two dapps by September, with ten more slated for release by the first quarter of 2019. LINE’s entry is another instance of a mainstream company joining the crypto revolution after Intercontinental Exchange (ICE) and Goldman Sachs. Will its users take to the new cryptocurrency? We will wait and watch!
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