We were recently asked a good question on the Kittehcoin Telegram channel that we want to address.
Q: “I was wondering, why is Lynx forked from kittehcoin if its code is completely renewed anyway? Why not start a fresh new blockchain for the Lynx project?”
A: There are a number of reasons we’ve decide to go this way. First, we’re a small team of tech and crypto enthusiasts who have been trading for a (relatively) long time, and we thought it would be fun to try and fix an old coin. Rather than start from scratch and drift alone at sea, we thought it would be more interesting to jump into an existing and established community. (A rising tide lifts all boats.) And so far, it’s been great. Modest, but great. The Telegram channel has grown by ~25% since we started the project and we’re also seeing some chatter about it on other social media channels, as well. Why try to build an audience for your project when one already exists?
Second, we liked the idea of using an existing coin because we’ve seen enough new coins developed as “pump & dump” scams that we wanted to avoid those suspicions altogether. To be clear: this is a marathon; not a sprint. We’re working hard to meet the December 24th deadline we set for ourselves, but this a long-term project. The existing project (Kitteh) has been around for a while (four years); and the new project (Lynx) plans to be around even longer.
Third, Kittehcoin was similar to Litecoin and we’re big fans of Litecoin. Compared to other coins, Litecoin is stable, fast, and has a stellar track record. However, since we are a small team with limited investment capital, the barrier to entry was too high with Litecoin. LTC was too expensive to experiment with in the production environment.*
In contrast, Kittehcoin was a fraction of the cost and as a result, enabled us to take some risks and develop our projects. For us, the lower (financial) stakes make it more fun, not less.
And finally, even though we’ve never met them, we really like Litecoin’s management team. They’re small and nimble like us, and they implement technological improvements quickly and with little drama or fan-fare. (Unlike other coins and teams which we will not name. Cough cough.)
So that’s why we chose Kittehcoin and didn’t create a new coin.
* Tech nerds: Testnet wasn’t an option.