ConsenSys, the Ethereum development firm founded by Joe Lubin, one of the co-founders of Ethereum, and known today for being the company behind MetaMask, the most used Ethereum wallet, has revealed its plans to launch its network’s native token Line next year.
The advertisement was done by the ConsenSys team to the American press, indicating that LINEA will be issued as a reward for active contributors and users of the Linea network sometime in the first quarter of next year.
The Linea network, launched last year, is part of ConsenSys’ strategy to compete in the growing market for Layer 2 networks. These networks provide scalability solutions for Ethereumallowing faster and cheaper transactions.
Until now, the absence of its own token had been considered a competitive disadvantage for Linea, especially when other platforms such as Arbitrum, Optimism and Base have used tokens. to fund their projects, engage the community and encourage adoption.
Specific details on how the token will be distributed and the exact timeline have not yet been revealed. However, ConsenSys confirmed its intention to proceed with the launch during the first quarter of 2025.
This announcement comes at a significant moment, post-presidential election in the United States, where Donald Trump won, which could mark a change in the regulation and perception of cryptocurrencies.
During the outgoing Joe Biden administration, ConsenSys, along with other companies in the sector, faced considerable scrutiny, including litigation and accusationsas reported by CriptoNoticias.
The expectation of a more favorable Trump administration toward cryptocurrencies has generated optimism among developers and companies in the sector. These are promises that, in everything, Bitcoin-comunidad-escepticismo/” target=”_blank” rel=”noreferrer noopener”>have raised skepticism in the community.
Joseph Lubin, founder of ConsenSys, mentioned that the decision to launch LINEA was not directly influenced by the elections, but acknowledged the uprising of a “cloud of uncertainty” that had been present.
“We have been operating under a cloud of uncertainty for a long time,” Lubin said, adding that concerns about being pursued by the SEC had led the company to cease tokenization years ago.
In addition to the token, ConsenSys announced the creation of the Linea Association, a non-profit organization that will be responsible for the distribution of the token and the development of the Linea protocol. Lubin mentioned the formation of a DAO (decentralized autonomous organization) and possible sub-DAOs to organize Linea-related work.
“It will be lots and lots of tokens, a high percentage of tokens, dedicated to the community,” Lubin CoinDesk stated, although without specifying the exact number of tokens that will be distributed.
Linea’s user certification system, designed to prevent sybil attacks, is another aspect highlighted by Lubin as a potential advantage for the success of the LINEA token over other layer 2 tokens. This system identifies real human users to prevent counterfeiting of multiple accounts and improper accumulation of tokens.
This article was created using artificial intelligence and edited by a human Editor.
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