Line Corporation has unveiled a cryptocurrency and blockchain platform to supplement its messaging platform. Link cryptocurrency and Link chain are the innovations that underline the company?s latest push into the burgeoning sector.
Line Blockchain Push
The digital currency, Link, is to operate over the Link Chain whose first Genesis Block came into being on August 23, 2018.? The blockchain will also serve as a service-oriented network for applying decentralized application through the messaging platform.
Concerned by the negative sentiments around Initial Coin Offerings,? Line Corporation has unveiled a reward system through which people participating in the development of the platform would be rewarded. Link cryptocurrency is also to act as a reward token for people who take time to develop decentralized applications over the blockchain.
Rewards are up for grabs for people who contribute on any decentralized app services geared towards adding support or boosting the network.
Link Rewards Program
?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,? said CEO Takeshi Idezawa
Line Corporation is planning to register its native cryptocurrency Link in Bitbox Crypto exchange as part of the latest push to grow its profile and popularity. The exchange is to act as a hub where interested people will be able to buy and sell the crypto. Bitbox is also tasked? with the responsibility of distributing the Link cryptocurrency.
A total of 1 billion Link coins are to be distributed? as part of the ecosystem protocol. Up to 800 million of the total 1 billion tokens are to be distributed as part of the rewards scheme. The remaining 200 million will be under the control of Link Corporation as well as the Line Tech plus program.