LINE Blockchain Business and LINK Cryptocurrency Unveils its Ecosystem Growth Plans
LINE Unveils its Plans for its Cryptocurrency Ecosystem
The messaging application from Japan, LINE, has decided to release its plans for its token-powered ecosystem. The intention is to launch it to the market by the end of the current year.
LINE will be using its platform to reach as many users as possible. At the moment, the company has over 164 million monthly active users that are distributed in four main countries.
With this in mind, LINE will be launching a new cryptocurrency known as LINK token. Not to be confused with Chainlink's (LINK). The ecosystem will be developed by LINE after receiving $10 million dollars from a venture fund. Additionally, the company has also develop a cryptocurrency exchange BitBox which launched in July.
The ecosystem will be related to the LINK blockchain, which will help companies and developers create their own decentralized apps. LINE is working very hard in order to launch these crypto and blockchain related products and services.
LINE has also commented that its goal is to make all the applications easy to use. In this way, several individuals would have the possibility to enter the virtual currency world without problems. Users will be receiving rewards according to the use they give to dApps. It would not be necessary for the company to distribute LINK tokens.
The company will also be focusing on its scalability solution. The LINEAR NETWORK would allow dApps to interact with other offshoots. And of course, this network would also be powered by the LINK token.
LINE wants to release its products in December. There are several other companies that are working in order to launch their products. Some of them would be launched before the end of the current year.