LINE, a Japanese messaging app company, has revealed its plans of starting an ambitious, token-powered ecosystem within the next three months.
The Company’s Strategy
Projected at taking advantage of the establishment’s enormous user base- Line has over 164 million monthly active clients in four major countries- the plan is pegged on its previously publicised LINK Token.
Backed by a $10 million capital fund and a recently-launched crypto exchange, LINE has already declared that its project will be based more on the growth of decentralized applications, or apps, which are closely associated with the LINK Blockchain.
Generally, the plan symbolizes one of the more noteworthy start-up-level determinations of 2018 to utilize blockchain in mainstream uses. The establishment is hopeful that its LINK token will boost numerous client-based applications, from payments to cafes and other services to serving of internet content.
During the CoinDesk Consensus in Singapore on 20th September 2018, LINE stated that its objective is to make token-based applications easier to use by many people, to lure more customers to its nascent cryptocurrency economy.
The intention is that, instead of issuing LINK tokens via some sort of sale, it will be offered via the dApps. Likewise, inventors will use the firm’s blockchain-as-a-service to invent their own apps.
LINE’s Scaling Strategy
Another noteworthy step taken by LINE is its plan to solve its scalability issues. Often termed as the LINEAR NETWORK, this strategy could ensure dApps operating on their own “leafchains” are able to interact with other side-shoots. LINEAR is projected to be reinforced by the LINK Token that can be swapped from one chain to another by means of smart contracts.
Both the LINK Token ecosystem and the LINEAR NETWORK are projected to be launched in December. From now till the time of this launch, LINE will be striving to shore up its inventor resources.