Not too long ago, there was some excitement regarding MIT’s mystery Litecoin project. At that time, it was unclear what the goal was or what the institution was working on. It now appears the Litecoin page has been removed from the website altogether. This leaves the community wondering whether or not this was a hoax to begin with. A very strange turn of events, to say the least.

The Litecoin community is questioning what happened to MIT’s LTC project.  The web address of this project is no longer accessible, for some reason. A few weeks ago, this page seemingly hinted at a major Litecoin-oriented project, even though no one knows for sure what it was about. With the site gone and the MIT team silent, it is evident this was nothing more than a hoax. Many people feel they got their hopes up for nothing, even though MIT never acknowledged it as an official project to begin with.

The MIT Litecoin Project is a Hoax

While it would be interesting to see MIT work on something Litecoin-oriented, that will not happen anytime soon. It is a bit of a disappointing climax, to say the least. Then again, there is plenty of active development where LTC is concerned. More specifically, applications for the Lightning network are under development as we speak. Once those projects go live, things will look rather interesting for Litecoin as a whole. Having the support of MIT would be great, but you can’t have everything these days.

Some people are wondering whether or not this “hoax” will impact the LTC price. Although the news regarding this project never affected the price much, holders often need trivial reasons to dump a coin these days. Litecoin has been relatively stable these past few weeks, which was seemingly unrelated to the MIT project. After all, most people expected this to be a hoax to begin with. With no official information and communication, there was never any legitimate angle to this mystery project in the first place.

Even though this MIT project amounts to nothing, the Litecoin development roadmap still looks good. Some exciting features are in development, all of which will have a positive impact on the ecosystem. Do keep in mind this is not a get rich quick scheme, like some other cryptocurrencies we have seen recently. Interesting things are going on behind the scenes for Litecoin,  that much is evident. The MIT project would have been a nice addition, but things will be alright in the end.

Header image courtesy of Shutterstock

Tags: , ,

Leave a Reply

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.