A lot of people might know about the success of eBTC which was Bitcoin on ethereum blockchain and the success of the eBTC led to the development of eLTC which is new litecoin (litecoin 2.0) on ethereum blockchain.
eLTC will have a supply of 84,000,000 tokens just like LiteCoin, and it will be divisible to 8 decimal places, and you will be able to send, receive, and use them just like you can with Bitcoin and Litecoin.
Transaction time will be much faster on eLTC than Litecoin because it is based on ethereum ecosystem which is much faster and cheaper to send and receive tokens.
There are so many other great benefits of having litecoin on ethereum, like using smart contracts on it as a plus.
When i joined cryptocurrency world, i wanted to get a hold of litecoin when it was $5 but i hesitated and same thing happened with antshares/neo and look where it is now.
I believe that eLTC can be a real thing, a much better version of litecoin.
The creator of eLTC is not using any ICOs to gain any money. eLTCs are being distributed as airdrops, and it will bring value as more and more people will join it and make it (just like bitcoin when it was developed)
You must be wondering,
WHY IS THERE ANY VALUE IF eLTC IS BEING GIVEN AWAY FREE?
A nice way to think about this is using early telephone networks as an example. When the first telephone networks were developed, the phone companies used to give new customers phones and connect them to the network for free. When there were no other users on the network, the early adopters didn't get any utility from the phone. It was just a silent object which sat on their hallway table. Distributing the phones was just a cost, with no immediate benefit for the phone company. However, as the network started to grow, and people started to ring each other, the phones' utility started to increase, making ownership of the phone highly attractive and creating a virtuous circle which lead to almost 100% ownership amongst the public. Or you can also think of it as a trial when we join Netlfix, we get a month free, where we use the services and see if it is worth it.
The above can be applied directly to distribution of an electronic currency. Right at the beginning there is no real benefit in owning it, but as the network of owners grows, the utility grows massively, ultimately there will be a value.
** WHEN IS AIRDROP HAPPENING?**
eLTC is meant to be a simple token, with simple purpose. The goal is to complement and work with Litecoin to be able to use these related assets in the Ethereum platform and community.
"The focus is on adoption and I have decided to airdrop over 95% of the 84,000,000 token supply (80,000,000) equally for signup (with a 2x bonus for retweets at https://twitter.com/eLTCoin and an extra 30% for each referrals up to 5 times total!) to those who fill out the form on the eLTC website with their email address and the Ethereum address where they would like to receive their tokens. Please note that this is not an investment in any sense and no value is implied or promised of any sort. As such, we want to make sure all members understand how important it is to be clear and up-front about this project. This is NOT an ICO and this is not an investment vehicle for future profits. The Airdrop form requires you to confirm a couple of questions to ensure things are covered from a legal perspective just in case and for our legal tracking purposes.
Because the tokens are free, it means they are going to the people that actually want them as opposed to just a blind airdrop to everyone. The airdrop sign up will close on October 12th at 1:00 p.m. EST, and the tokens will be distributed on October 13th (Stay tuned for more info). Creator will be keeping 5% of the supply (4,200,000) to help further the development of eLTC."
CLICK HERE TO SIGN UP FOR AIRDROP - http://bit.ly/2wEsfcL
Interesting thanks for the heads up will definitely check this out.
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