MIT Litecoin project was a hoax?

MIT announced a mysterious Litecoin project but never actually launched it
08 August 2017   2735
Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

World famous Massachusetts Institute of Technology announced a mysterious cryptocurrency project in June. 

The news got a great response in the cryptocurrency world society.

MIT Litecoin project countdown screenshot MIT Litecoin project countdown screenshot

Litecoin

Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency

Firstly, no one could tell for sure what the project was exactly about.  The only thing known was that it was somehow related to Litecoin. Even the creator of Litecoin, Charle Lee, had no idea about this project:

Secondly, the project was to be released on August 1st, on one the most significant days in the cryptocurrency world's history (the day of Bitcoin fork). 

So what?

Now, it appears that the Litecoin page has been removed from the website and the web address of the project is no longer accessible. To tell the truth, such a move leaves the community at a loss: no one actually knows whether or not this was a hoax as MIT team remains silent.

Some people are wondering whether such a “hoax” will impact the LTC price. However, Litecoin has been relatively stable these past few weeks, which was seemingly unrelated to the MIT project. 

Taking into consideration all the crazy mess around Bitcoin fork on August 1st, not much attention was drawn to the MIT project and it managed to disappear silently and even more mysteriously.

The users found themselves fooled in a way, tried to find out the truth on their own:

Charlie Lee on MIT Litecoin project on his Twitter Charlie Lee on MIT Litecoin project on his Twitter

Since the Massachusetts Institute of Technology team has remained silent and hasn't published any official statements, we have appealed to them with a request to comment on this situation.

Binance to Launch Crypto-Fiat Exchange at Jersey

The new exchange will feature BTC / GBP, ETH / GBP, BTC / EUR and ETH / EUR trading pairs
16 January 2019   72

Binance has opened a branch at Jersey island, targeting Europe and the UK. Its clients will be able to trade Bitcoin and Ethereum for the euro and the British pound. 

The new exchange will feature BTC / GBP, ETH / GBP, BTC / EUR and ETH / EUR trading pairs. To start trading, users must undergo KYC verification.

According to Binance CFO Ju Wei, bidding cryptocurrencies for fiat money will provide Europeans with new opportunities in the face of uncertainty with Brexit affecting the euro and the pound.

Wei also stressed that a strong legal framework makes Jersey one of the leaders in the development of blockchain technology.