LINE Introduces Its 3rd Generation Blockchain Mainnet "Finschia"

LINE Tech Plus, a subsidiary of LINE Corporation and operator of LINE's crypto asset and blockchain-related businesses, announced today that LINE has launched "Finschia", its 3rd generation blockchain mainnet, to provide an open network to public.

LINE developed its own blockchain mainnet in 2018 and built a blockchain ecosystem through introducing services like its crypto asset LINK, crypto asset trading services, a crypto asset wallet and an NFT marketplace. Now, with the new blockchain mainnet Finschia, LINE aims to become a more robust blockchain ecosystem with advanced functionality and stability.

With the launch, LINE plans to open the network to developers regardless of their experience in blockchain services and will provide them with an environment where they can easily develop dApps with the full node on Finschia or LINE Blockchain Developers. Through Finschia, developers can collaborate with LINE's services and utilize LINE's knowhow to develop user-friendly blockchain services.

"We are pleased to introduce Finschia, where we can cooperate with other developers to unlock the possibilities of our blockchain network," said Youngsu Ko, CEO of LINE NEXT. "We look forward to creating a new blockchain ecosystem and expanding LINE's token economy based on crypto asset LINK."

Furthermore, LINE plans to combine the current mainnet, called Daphne, with Finschia, unifying the blockchain mainnet where all blockchain services operate. Also, LINE intends to launch DOSI Vault, a non-custodial wallet dedicated to the crypto asset LINK in the coming days.