Line announced today that it is coming out with its own cryptocurrency for the platform.
Line’s first digital token will be called LINK (Link.network), and it’s blockchain will be called “LINK Chain.” This is a month after Line launched it’s own cryptocurrency exchange in July called “BitBox.”
LINK will not make an Initial Coin Offering (ICO), but instead users can gain coins through a reward system that gives LINK for using decentralized app (dApp) services related to LINK can receive LINK coins. The tokens can then be used for services within the LINE network.
Line will release a total of one billion LINK tokens. 800 million will be used for user rewards, and 200 million will be held as a reserve by Line.
Oddly, the cryptocurrency will not be available in its home country, Japan, due to cryptocurrency trading and exchange regulations.