LINE Tech Plus, a subsidiary of LINE Corporation that oversees cryptocurrency and blockchain-related businesses, has announced the launch of its third-generation blockchain mainnet, Finschia. Agreement.
Finschia Blockchain: LINE mainnet here
line Since 2018, we have been developing the blockchain ecosystem through the introduction of services such as Crypto LINK, cryptocurrency trading services, wallets and NFT marketplaces.
The mainnet currently only supports LINK tokens, but more tokens and features will be introduced in the future. With the mainnet active, LINE has officially become a decentralized platform providing social media and payment services.
The mainnet launch marks another step towards realizing the company’s ambitious plans to make decentralized services accessible to everyone.Additionally, the launch establishes LINE as a direct competitor. ethereum Developing dApps.
Finschia has added numerous features to improve functionality, speed and stability. To the Cosmos consensus algorithm he uses his Ostracon, a proprietary consensus algorithm that adds a VRF (Verifiable Random Function).
These improvements give Finschia 400x faster transaction speeds and 98% lower costs compared to Ethereum. Additionally, Finschia has introduced contribution-based rewards. This allows users and developers to be rewarded based on their contribution to expanding the blockchain ecosystem.
With this launch, LINE plans to open up its network to developers regardless of experience with blockchain services, and provide an environment where they can easily develop dApps with Finschia or LINE Blockchain Developers full nodes.
Through Finschia, developers can work with LINE services and use LINE know-how to develop user-friendly blockchain services.
Ko Young-sooCEO of LINE NEXT said:
LINE NEXT CEO Youngsu Ko said:
We look forward to creating a new blockchain ecosystem and expanding LINE’s token economy based on the crypto asset LINK. ”
In addition, LINE plans to merge its current mainnet called Daphne with Finschia, a blockchain mainnet where all blockchain services will operate.
LINE will soon launch DOSI Vault, a non-custodial wallet dedicated to LINK crypto assets. With full control over the wallet, the user will be able to manage her LINK faster, safer, easier and with lower gas costs.
Based on Finschia and DOSI Vault, LINE plans to extend the token economy by inviting users who are not yet familiar with blockchain to enjoy stable, secure and easy-to-use services.
The platform is based on an open, decentralized system that allows users to exchange currencies and other assets quickly and efficiently. It also gives developers the ability to create decentralized applications (dApps) on the platform.