What is LINK (LN)?
LINK is the native token for the LINE blockchain network. The main aim of the project is to create a blockchain platform and token economy for mainstream consumers. Therefore, the team is building an ecosystem that can serve global users with the help of LINK and a diverse range of dApps.
LINE is a service-oriented blockchain built on Interchain. It enables interoperability and sustainability within the network. The blockchain network allows users to share values within its ecosystem.
The blockchain can handle heavy traffic and supports inter-trading between multiple blockchain protocols as well as different consensus algorithms between nodes. Users can implement their own blockchain technology by issuing and distributing tokens.
The layer structure of the LINE blockchain helps in designing networks to suit the characteristics of the applications that will run on the network. The structure follows three principles: rewards for contributors, a balanced economic model, and an easy-to-use design.
The LINE blockchain network ecosystem consists of the following:
- Reward dApps that contribute to the ecosystem and are in charge of network development;
- General dApps that support programs for the dApps;
- LINE Pay, which is a blockchain payment system that supports micro-transactions and issues credit cards;
- LINE Messenger app;
- LINE Bitmax wallet, which stores tokens, and enables conversion of the LINK token to fiat;
- Bitfront, which is the native exchange covering the areas outside Japan.
Use Cases of LN Tokens
LINK is a multi-utility digital asset that supports payments and remittances on the network. Users can pay for various LINE services from various categories, including content, commerce, digital asset exchange, and gaming. The token holds a minimum value of $5 when used for purchases within the LINE ecosystem. LINK price can rise depending on the market's condition.
The token also supports promotions and rewards programs on the Bitfront exchange. LN is used to reward users for their trade volumes and deposits.
Besides that, LINK coins can also be exchanged for other crypto assets. The token is available for purchase on various crypto exchanges. You can view the LN price on the live chart above.
Who Founded LINK?
The LINK crypto asset was created by LINE TECH. The company is a subsidiary of Line Corporation, the biggest global messenger company in South Korea. There is little information available on the internet about the LINK team. However, Yongsu Ko is the CEO and representative director of the LINK ecosystem.
Tokenomics of LN
LINK token launched without an ICO. The token has a maximum supply of 1 billion tokens. The fixed token supply is designed to protect the token from the effect of inflation and maintain a healthy LN price at any time. 100 million LN tokens were generated within the first three years. 80% of the tokens serve as user rewards, while 20% is reserved for the LINE blockchain. The reserved tokens are used for network expansion, blockchain operation expenses, marketing, and service acceleration.
LINK crypto circulation is determined by the LINE network activity level and growth. It depends on the number of active wallets existing in the network as well as the number of LINK coins used for staking and payments. The strategy enables the growth of the ecosystem and keeps the LINK price stable.
