Announcement on Launch of New Mainnet Finschia

Hello, this is the LINE Blockchain Team at LTP (hereafter LINE Blockchain).

At 15:00:00(UTC+9) today, starting with 51,775,519 Block Height, Finschia, the 3rd-generation mainnet of LINE Blockchain, was successfully launched. LINK was also safely transferred to Finschia. LINK holders and users can use the mainnet and LINK as before without any additional work required. The resumption schedule for deposits and withdrawals per exchange may differ depending on the policy of the exchange. For accurate information, please check the announcements of the exchange.

Through the mainnet launch and LINK Migration, LINE Blockchain will become a more robust and competitive Blockchain Ecosystem. Please refer to the information below for the changes after the launch of Finschia and LN Migration.

Finschia’s Block Height takes over and is recorded from Bamboo’s final Block Height. The generation of Bamboo’s Block is discontinued.

  • Bamboo’s final Block Height: 51,775,518
  • Finschia’s initial Block Height: 51,775,519

In Finschia, the Total Supply and Total Circulating Supply are counted on the same basis to transparently record and guide the LINK distribution process. (Total Supply = Circulating Supply)

In Finschia, LINK cannot be arbitrarily minted. It will be distributed only under the Inflation System. All information related to LINK mint will be disclosed transparently. (The application timing of the protocol will be disclosed later.)

Finschia uses a new address system starting with link.

Examples:

  • Bamboo: hx80F8d8036275532B8C00f400a8eAE002dE88c238
  • Finschia: link1iukazcrtk517u53h9l2l7cythd09c5e8kyAt6c

Please assure to use the changed address system when depositing and withdrawing services are resumed after the completion of Finschia application to each exchange. (Recovery is unavailable if it is incorrectly sent to the original address.)

Finschia has greatly improved network stability and security by applying Ostracon, an independently developed consensus algorithm. It also supports CosmWasm to onboard various dApp services.

The meaning and direction of the launch of Finschia and its detailed technical features can be found in the article below.

>> Read Digest: The First Step Towards Mass Adoption: Finschia Network (EN)

New LINE Blockchain Scan services for Finschia are unveiled.

>> LINE Blockchain Scan for Finschia

Through the new Scan service, the transactions and related information of the testnet Ebony and mainnet Finschia can be checked in real-time.

The data on Bamboo can be viewed at any time through LINE Blockchain Explorer, even after Bamboo is discontinued. However, information on Alder, the 1st-generation LINE Blockchain testnet, will no longer be provided.

Several unknown accounts with certain amount of LN balances have existed on the Bamboo since mistakes in remittance were made. A total of unconfirmed balances are 8.750524LN.

For consistency in LINK migration, LTP will collect the remaining balance and transfer it to a separate account to manage it separately. Please note that LTP will not use this balance as LTP’s asset.

The following balance will be carried out in a way that will enhance the LINE Blockchain ecosystem, and we will keep finding a better way of handling its measures with the community together.

Lastly, through today’s mainnet launch and LINK Migration, Finschia’s Full Node (End-point) became publicly available. As shared in the last 2022 LINE Blockchain Business Report (URL), Full Node can be opened or the features through “LINE Blockchain Developers (LBD)” can be provided. Therefore, any projects that would like to work with LINE Blockchain are welcome to contact us through blockchain_biz@linecorp.com.

The LINE Blockchain Team is always working on expanding the blockchain and token economy ecosystem. We will continue to do our best to provide services that can be used easily and safely by the average users as well as users who are familiar with existing blockchain services.

Thank you for your support and interest in LINE Blockchain.

LINE Blockchain Team at LTP

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