LINE, which provides a messaging application, announced that it will run its own token economy during this year at Consensus Singapore, a conference organized by CoinDesk in Singapore.
LINE announces the start of the new project “LINE Token Economy” and the exchange “BITBOX”!
LINE announces “LINK ecosystem”! Uniquely developed block chain “LINK Chain” and universal coins are released.
The company is active in block chain technology, such as deploying LINK token and cryptocurrency exchange Bitbox. However, since Bitbox is not licensed in Japan, LINK points are used instead of LINK tokens.
LINE’s concept of Linkchain will be built on the basis of the block chain Loopchain adopted in the cryptocurrency ICON from Korea and will be operated as the main net . Linkchain is said to be as much processing power as 1000 TPS (transaction processing capacity per second).
In addition, LINE has revealed that there are currently active users of 160 million monthly, and said that the purpose is to attract these users to the token economy using a simple system.
Users can receive LINK tokens as rewards by using dApps (distributed application) . And development has become possible on the block chain of LINE.
From now on, on Linkchain we will create a variety of applications such as shopping applications and entertainment related applications.
In Linkchain, countermeasures against scalability problems have also been taken, and the system called “Linear Network” using a branch chain called leafchain enables deployment of large-scale networks.
Article Source: CoinDesk
Is not work early this year? The number of users is also insanely large and expected big!
Author: kaz 【Coin Desk News】 – Source Post: https://crypto-times.jp/line-to-run-linkchain-this-year/
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