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Lino Blockchain Updates – October, 2019

We are excited to release the following updates to our community!

Roadmap

During the last year, the Lino blockchain has grown to over 2.5 million registered accounts and successfully processed more than 50 million on-chain transactions moving closer to making the vision of creating a value-sharing content economy a reality. The total consumption, i.e., donations and paid subscriptions on DApps (DLive.tv) that have occurred on the Lino blockchain have exceeded $5,000,000. 

Lino Blockchain Whitepaper

In preparation for the Lino Main Net and to add more transparency to this transition, we are releasing a technical version of the Lino whitepaper along with our existing non-technical documents. The technical version of the Lino whitepaper provides more clarity into the token-economics, validator economy, In-App Digital Assets (IDA), content rewards, Token-incentivized Named-Data Networking protocol, and all the contributors to the Lino Blockchain ecosystem.

Introducing In-App Digital Asset (IDA)

An App developer on Lino blockchain can issue its own fixed-price IDA that can be used within that app only. IDA, for the first time, makes blockchain-based applications more user-friendly to non-crypto users. 

Due to the volatile nature of cryptocurrencies, large price swings are inevitable and hence they are not optimal to be used for daily transactions. Just imagine: A 20% drop in your cryptocurrency value for the past month’s earnings due to fluctuations in price. Which content creator would find this acceptable? That’s why the IDA is designed to be used for donations and gifting without worrying about price fluctuations. Moreover, the IDA is superior to fiat currencies in the Lino model since it’s programmable and all related economic behaviors can be recorded onto the blockchain.

Lino Apps are recommended to use the IDA for better user experience. Lino App users will be able to purchase the IDA at a fixed price. Any donation and paid subscription on the Lino App will be transacted via the IDA.

In most situations, the IDA and LINO (see below) cannot be converted to each other on the Lino blockchain for anti-attack purposes. More details can be found in the Lino Docs.

LINO will be introduced on Oct 25th, 2019

On October 25th, LINO that represents the fundamental unit of value of the Lino Blockchain will be introduced. Lino blockchain is designed to algorithmically reward all contributors with newly minted LINO that is produced per block. 

You can access your LINO by registering an account on Lino Wallet. After October 25th, content creators will receive their content rewards (content bonus) in LINO.

You can unlock your Locked Points within 1 day from now until October 30th

  • Starting immediately, and through October 30th, the entire unlocking period for Locked Points will be shortened from 12 weeks to 1 day. 
  • On October 25th, all existing Locked Points will become LINO Stake. You will receive LINO when you stake out your LINO Stake afterward.
  • After October 30th, the Stake Out period on the Lino Blockchain will be 12 weeks. 

If you want to unlock your Locked Points, you can do it on Lino Wallet.

New branding & New Lino website

A new beginning, and a new look. We’ve rolled out the new Lino logo to coincide with the new Lino Blockchain that will soon be released as well as a revamped lino.network website.

Join Lino community on social media

Be sure to follow Lino’s social media accounts on Twitter, Discord, Telegram, and Reddit to stay up to date on all official announcements.

On October 16th, 2019 at 10:30 AM PDT – Wilson Wei the cofounder of Lino Network will be live on dlive.tv/linonetwork to explain more about these updates – If you have questions about the upcoming changes on the blockchain, submit it in the Lino telegram group.

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