LINE Blockchain announced its 2021 project plan on April 30 under the title of’LINE Blockchain 2021 Plans’. Several plans were revealed, including the new listing of LINK (LN). In addition, all plans have not been implemented and may be reviewed in the future depending on changes in the market or laws, so we are urged to check the latest situation with a white paper. Coinpost reported this on the 1st.
LINK(LN) is its own token intended to be used as an incentive design in the concept of the LINE Token Economy. It supports the incentive design of the token economy that LINE envisions, such as being able to use it in a variety of services such as dApps (distributed applications) built with its own blockchain mainnet’LINE Blockchain’.
The project plans for 2021 announced by LINE Blockchain are mainly concentrated into the following five.
1.Additional listing on LINK(LN) new exchange 2. Partnership with payment providers 3. Expansion of NFT related services 4. Expand dApps 5. LINK issuance and user assignment
> LINK listed on new exchange
The only cryptocurrency exchanges that handle LINK, the key currency on the LINE Blockchain, are’LINE BITMAX’ and’BITFRONT’ under the LINE Group, but they are listed on other exchanges to increase liquidity and safety.
> Partnership with payment providers
He announced that he will expand the use case so that LINK can be used as a payment method in real life.
> NFT related service expansion
It is conceiving a new service that can utilize NFT (non-replaceable token) on the LINE Blockchain, and is said to promote the circulation of LINK by providing new transaction methods to users. As of April 6, LINE Blockchain revealed that it was building the NFT platform, and said, “We aim to provide a service that anyone can submit, purchase, and exchange NFTs, easy to use, and easy to spread around the world.
> Expand dApps
In various fields such as fintech, content, and games, we decided to cooperate with large-scale services with the aim of building dApps based on LINE Blockchain.
> LINK issuance and user grant
It has announced that it will issue a new LINK to users who have paid for using LINK, dApps, and users who have contributed to the activation of the LINE Blockchain. It is said that LINK will be distributed in the amount of 10 billion yen to 20 billion yen (approximately 102.2 billion to 204.5 billion yen) in legal currency within 21 years, and the total distribution volume after the new distribution is estimated to be 6,459,971 LN to 6,874,943 LN.
[LINK use case]
As a use case of LINK, cases of transferring from other chains such as Ethereum (ETH) to LINE Blockchain by issuing NFTs or developing NFT games are also found everywhere.
In addition, LINE Pay Co., Ltd. is a privilege coupon that allows you to exchange 9% of compensation for LINK by making payments at affiliated stores such as Uber Eats and couriers, which are eligible for “LINK Rewards” in November 20th. Start the delivery of. It was the first case to deliver a coupon with cryptocurrency added to the LINE Point Club privilege.
In other cases, it is said that Theta Network, which specializes in video streaming, announced on April 9th is the start of delivery of content services for Japanese users.
「THETA.tv」, where you can watch contents such as MGM, Lionsgate, and NASA, has been built as dApps on the LINE Blockchain and can be downloaded from Japanese users as well.
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Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.