Categories: ICO

Japan’s Messaging Giant LINE Launches Its Own Cryptocurrency

Click here to view original web page at

Japanese social messaging giant LINE has launched its own cryptocurrency and in-house blockchain, according to an announcement released today, August 31.

LINE has revealed that the genesis block of its new mainnent, LINK chain, was generated August 23. The company describes the mainnet as a “service-oriented” blockchain network that will enable decentralized apps (dApps) to be directly applied to LINE’s messaging platform.

The company plans to issue a total of 1 billion LINK tokens to users of its platform, saying it will keep 20 percent — or 200 million tokens — as a company reserve. The tokens will be used as payment means for a range of LINE services.

According to the announcement, the new tokens are being issued by a Singapore-based subsidiary called LINE Tech Plus PTE that LINE established earlier this spring.

In lieu of an Initial Coin Offering (ICO), the new tokens will be distributed through a rewards system that compensates users with LINK whenever they use certain services within the LINE ecosystem. As an example, the company states that LINK will be awarded to incentivize use of LINE’s soon-to-launch dApp services. LINE’s token economy white paper indicates that its first two dApps will launch by September, with over 10 to be released by the first quarter of 2019.

As well as receiving tokens as incentives, international users will be able to trade LINK on LINE's recently launched BITBOX cryptocurrency exchange for trading as of September. The announcement notes that as BITBOX has not yet received an official operating license from Japan’s Financial Services Agency (FSA), domestic users will not initially be able to use BITBOX as a means to trade and acquire the tokens.

As Cointelegraph has reported, LINE announced the creation of a $10 million blockchain venture fund earlier this month, aiming to boost the development and adoption of cryptocurrencies and blockchain technology.

LINE has revealed that the genesis block of its […]


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

Watford FC to brand Bitcoin logo on the jersey

The initiative is being carried out as a part of a brand partnership with sports betting site's marketing… Read More

1 hour ago

Latest Bitcoin price and analysis (BTC to USD)

At the time of writing, Bitcoin (BTC) is trading at just above $10,300 after gaining about 1% since last week.BTC… Read More

1 hour ago

Johnstone: How To Defeat The Empire

Authored by Caitlin Johnstone via, One of the biggest and most consistent challenges of my young career so far… Read More

1 hour ago

Today’s Bitcoin Drop Driven by Massive Volume Influx

Bitcoin has been facing a bout of sideways trading for the past several days, but today’s drop to below $10,200… Read More

1 hour ago

L.A. to Choose Blockchain Pilot Project at CIS Conference

With a growing interest in blockchain solutions for government, the city of Los Angeles has partnered with organizers of a… Read More

1 hour ago

Bitcoin’s heading to a new all-time high along with the S&P 500, says Fundstrat’s Tom Lee

watch nowTalk about a bitcoin bull case.The digital currency is headed to new record highs, says Tom Lee, co-founder, managing… Read More

1 hour ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More