LINE, Social Media giant in Japan has pushed through with its inception of cryptocurrency and it’s future.
As of today, LINE has launched it’s own cryptocurrency, namely, ‘LINK’, with it’s own independent blockchain designed to serve as a platform for dApps i.e. decentralised apps.
LINE officially stated that the blockchain is based on Delegated Proof-of-Stake (DPoS), consensus algorithm to facilitate speedy transactions. The blockchain system is functional as of now. The firm is currently operating all of the block producing nodes.
In the words of LINE CEO Takeshi Idezawa, “Over the last seven years, LINE was able to grow into a global service because of our users, and now with LINK, we wanted to build a user-friendly reward system that gives back to our users.”
“With LINK, we would like to continue developing as a user participation-based platform, one that rewards and shares added value through the introduction of easy-to-use dApps for people’s daily lives.”
As of today, LINK would only be initiated on BITBOX, it’s cryptocurrency exchange which launched this year. LINK would be having it’s airdrop and bounty programs through their platform.
Also LINE has added that they don’t intend to hold an ICO , instead they would be distributing 800 million tokens out of the 1 billion supply through user reward programs and would retain the remaining 20% for the company.
Consecutively, just like BITBOX, LINK also won’t be available for users in Japan.