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Why Japan’s Biggest Messaging App Line Decided to Create Its Own Crypto

On Aug. 31, Line, Japan’s most widely utilized messaging app with more than 200 million active users, revealed the launch of its own cryptocurrency called LINK.

Upon its announcement, Line immediately listed LINK on its digital asset exchange BitBox, which it launched back in July of this year.

Essentially, LINK is a token that is designed to increase the adoption of decentralized applications (DApps) deployed by the Line development team by incentivizing users accordingly based on their activity on the Link blockchain network.

In the near future, the Line team revealed that it will release DApps and services related to content, commerce, social, gaming and exchange — all of which will rely on LINK as the main payment method.

The Japanese messaging giant initially disclosed its intent to focus a large portion of its resources and developer capacity to blockchain development on April 20, 2018, at the 2018 Dev Week conference held in Seoul, South Korea.

During the conference, Park placed heavy emphasis on blockchain technology, stating that the Line umbrella will continue to accelerate the process of creating a blockchain-based tokenized economy that operates on top of a Line-specific blockchain mainnet.

 

In the years to come, the Line developer community will have to actively develop DApps and various blockchain solutions to ensure that its ecosystem can remain sufficient for hundreds of millions of global users.

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