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LINE enters the cryptocurrency trading market
At the end of January this year, LINE announced that it will launch a cryptocurrency trading platform in 2018, aiming to enter the global cryptocurrency market and promote the research and development of blockchain technology. Now, four months have passed, and LINE has been exploring innovative projects in the blockchain industry. By cooperating with ICON, the two parties will jointly establish a new company called UnChain,LINEs development team will also deploy various decentralized applications and blockchain mainnet based on the ICON blockchain protocol to provide services for its hundreds of millions of users.
The LINE development team has established a blockchain laboratory to accelerate the exploration of the potential of blockchain technology and study long-term innovative approaches to the commercialization of blockchain technology.
The ICON team stated:
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ICON will support 200 million monthly active users to access DApp
It is reported that the newly formed UnChain company will provide services to hundreds of millions of LINE users, allowing them to use the ICON blockchain to access decentralized applications every day.
However, blockchain technology has not yet been widely used.Many industry experts, including Ethereum founder Vitalik Buterin, said that the high valuation of many blockchain projects cannot match the actual application.Last November, the cryptocurrency market hit $500 billion. Vitalik Buterin said at the time that although blockchain technology has been applied in the financial and technology industries, its valuation is not reasonable.
Vitalik Buterin says:
“The cryptocurrency market has reached $500 billion, but have we really succeeded? How many unbanked people have we helped? How many valuable commerce have we provided to ordinary people? Decentralized applications? Although we have achieved some achievements, in some cases, the high market valuation is not matched.”
It is reported that LINE values ICON because the latter can provide interoperable network advantages, and the ICON team has strong technical capabilities.
