Although the cryptocurrency market has been struggling to stay up and running, there are many firms in the market who still believe in this industry. This proved when the messaging giant “LINE” came up with the great news of launching their own cryptocurrency named “LINK”.
More Information –
LINE is a Japan based internet-centric firm that has become one of the most popular messaging apps around the globe. This news of the introduction of a new cryptocurrency came when Ethereum World News published a report stating the same.
BitBox| The In-House Exchange Platform launched by LINE
LINE, the messaging firm announced that they are launching the in-house crypto-to-crypto exchange that is named BitBox. Since its introduction, the exchange has been doing really well as the platform is offering the users very low fees.
The best part about this platform is that it supports multiple varieties of cryptocurrencies via a minimalistic and easy-to-use platform. The company has been busy working on expanding its operational services in the field of cryptocurrency.
The company is planning on releasing a press release indicating their intentions of launching their own cryptocurrency “LINK”. The major emphasis in this plan has been put on not releasing the crypto through ICO but by giving away the tokens to the users when they use the “LINE” Services.
Use of this new cryptocurrency “LINK”
With this new cryptocurrency launched by messaging app “LINE”, the token holders will be allowed to purchase the stickers, “webtoons” along with rest of the services that are provided by the messaging application. That is not it, in fact, the company is planning to introduce this new cryptocurrency to an exchange platform launched by them earlier named BitBox.
Whats the Plan of the firm with “LINK”
As per the latest updates, the firm intends to distribute around 800 million LINK tokens while keeping 200 million tokens for itself. Shockingly enough, Japan the country where this messaging firm belongs to has not yet allowed the app to operate their products.
As per the company, if this cryptocurrency venture initiated by the Japan messaging app, LINE works its way up, it will eventually use their blockchain technology to host the decentralized applications that will then connect with the firm’s messaging application.