LINE Launches Blockchain Mainnet ‘Finschia’
LINE, a subsidiary of LINE Corporation and operator of LINE’s crypto assets and blockchain-related businesses, announced today that LINE has launched “Finschia”, its third-generation blockchain network, to provide an open network for the public.
LINE developed its own blockchain network in 2018 and built a blockchain ecosystem by introducing services such as 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. This is the first milestone in the LINE blockchain ecosystem to realize the true value of Web3 that anyone can easily and freely produce, trade and earn rewards.
Named after the tropical tree, Finschia has added a number of features to improve functionality, speed and stability. Using Ostracon, its own consensus algorithm, which adds VRF (Verifiable Random Function) to the Cosmos consensus algorithm. With its improvements, Finschia is 400 times faster in trading speed and reduces costs by 98% compared to Ethereum. In addition, Finschia has introduced contribution-based rewards where users and developers can receive rewards based on what they have contributed to expanding the blockchain ecosystem.
With the launch, LINE plans to open the network to developers regardless of their experience with blockchain services and will provide them with an environment where they can easily develop full-node dApps on Finschia or LINE Blockchain Developers. Through Finschia, developers can collaborate with LINE’s services and utilize LINE’s knowledge to develop user-friendly blockchain services. Details of Finschia can be found on the LINE Blockchain website (
“We are excited to introduce Finschia, where we can collaborate 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 the crypto asset LINK.”
Furthermore, LINE plans to combine the current mainnet, called Daphne, with Finschia, unifying the blockchain network where all blockchain services operate. LINE also intends to launch DOSI Vault, a non-custodial wallet dedicated to the crypto-asset LINK in the coming days. With full control over the wallet, users will be able to manage LINK faster, safely and easily with lower gas fees. Based on Finschia and DOSI Vault, LINE aims to expand its token economy by inviting users who are not yet familiar with blockchain through user-friendly services with stability and security.
