Messaging Giant LINE Unveils Ambitious Plan for Crypto Token Economy
LINE, the messaging program giant in Japan, has unveiled plans which will see it launching an ambitious, token-powered ecosystem at the end of 2018.
Aimed at Orientation on the organization’s large user base — LINE claims to get over 160 million monthly active users — that the program is based around its previously declared LINK token. Founded by a $10 million enterprise fund and a newly-launched cryptocurrency exchange, LINE has said that its initiative will concentrate greatly on the growth of decentralized programs, or dApps, which are tied into the hyperlink blockchain.
The strategy, as a whole, represents a few of the very prominent enterprise-level attempts of 2018 to employ blockchain to mainstream usage cases. LINE is expecting its LINK token will function as the fuel for a vast assortment of consumer-facing programs, from obligations for restaurants and other solutions to the functioning of internet content.
At a presentation given during BMI’s Consensus: Singapore occasion on September 20, LINE explained that its objective is to produce token and accompanying software as simple to use as possible in an effort to migrate a few of those millions of users into its own untoward crypto-economy.
The idea is that, instead of distributing LINK tokens through some kind of sale, users will soon be rewarded through the use of dApps. Developers, in turn, can use the company’s blockchain-as-a-service to develop applications of their own.
LINE’s scaling solution
Possibly harder is LINE’s strategy for encouraging the scalability of its stage.
Dubbed the LINEAR NETWORK, the strategy could observe dApps present on their so-called”leafchains” that exist within their own but are capable of interacting with different offshoots. LINEAR will be underpinned by the LINK token, which may be exchanged in chain to chain by means of smart contracts.
LINE hopes to go live with its frame for its LINK token in addition to the LINEAR NETWORK in December, according to the firm’s presentation.
And as mentioned before, LINE is currently moving to shore up its programmer tools before that kick-off — indicating it will look to get quite a few dApps set up before launch.