Temporal: Enterprise Solution for Distributed Data
·

Popular Messaging App Line Launches Native ‘LINK’ Token

Blockchain integration continues to pervade industries worldwide, including mobile applications. Popular messaging app Line is launching its own LINK token, a cryptocurrency built on the platform’s native LINK Chain.

Apps and dApps Collide

Line, a social messaging platform, is set to build an in-app token economy through the launch of its LINK token and LINK Chain, according to a press release.

The LINK token will be distributed exclusively on the BitBox digital asset exchange in September. With the integration of LINK Chain, Line hopes to introduce its 600 million users to an extensive ecosystem of decentralized applications (dApps).

Based in Japan, Line developed the LINK Chain as a customized blockchain network designed to directly apply dApps to its messaging platform. LINK Chain produced its first genesis block on Aug. 23.

Furthermore, Line plans to build an entire token economy around dApp-related services, rewarding users with LINK tokens for completing tasks in content, commerce, social and gaming.

LINK User Reward Workflow

In the official press release, Line’s CEO Takeshi Idezawa said:

“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 the Line ecosystem grows, 1 billion LINK will gradually be issued on the BitBox exchange. Of that, Line will allocate 800 million LINK tokens for user rewards, while the remaining 200 million LINK will be kept for reserve by LINK’s issuer Line Tech Plus.

Currently, Japanese residents will not have access to LINK due to pending regulatory authorization. However, Japanese residents will be able to utilize an alternative token, called “LINK Point,” which holds the same functionality as LINK tokens on the Line platform. LINK Point is not eligible for trading on BitBox or any other exchanges.

Cover Photo by Jack B on Unsplash

Posted In: , Adoption, Altcoins, Technology

The above advertisement is an affiliate link. CryptoSlate will earn a small commission if you sign up.

Like what you see? Subscribe to CryptoSlate

Get our daily newsletter containing the top blockchain stories and crypto analysis straight to your inbox.

Sign up to stay informed
Jonathan Kim
Author

Jonathan Kim

Former Journalist @ CryptoSlate

Jonathan Kim is a University of Washington student of Finance and cryptocurrency investor with a deep interest in the emerging industry of blockchain applications and cryptocurrency trading. His past experiences involve publishing original daily content for blockchain startups and trading cryptocurrencies using technical analysis principles.

View author profile

Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.