In a bold move, Litecoin’s official X account called on Coinbase to correct its misleading description of the cryptocurrency. The exchange currently labels Litecoin as a “fork of Bitcoin,” implying it shares Bitcoin’s blockchain history.
Coinbase currently states on its platform, “Litecoin was actually created as a fork of Bitcoin. A fork happens whenever a community makes a change to the blockchain’s protocol or basic set of rules. Forks create a second blockchain that shares all of its history with the original but is headed off in a new direction.”
However, Litecoin hit back, calling this explanation factually incorrect. “This description of Litecoin needs to change now. It is not a hard or soft fork of Bitcoin. It does not share the blockchain history. It had its own genesis block,” the official Litecoin account posted on X.
Although Litecoin was developed from Bitcoin’s codebase, it was released in 2011 as a standalone blockchain with its own genesis block. What that means is that it had no shared transaction history with Bitcoin, a distinguishing factor that divides it from actual hard or soft forks.
The claim that Litecoin “shares all of its history with the original” is misleading and confuses users about how Litecoin functions at a technical level. This clarification is important because wrong info from big platforms like Coinbase can confuse new investors, developers, and others who trust their content.
Charlie Lee, Litecoin’s creator, had worked at Coinbase in its early days. Litecoin urged Coinbase to correct the misinformation and even offered help from the Litecoin Foundation to provide accurate descriptions. Litecoin lastly said, “If you’d like a template, I’m sure the foundation can provide you one.”
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