Litecoin has rebranded their signature logo as the company looks to usher in a “new era.”
Ilir Gashi, community manager at the Litecoin Foundation, broke the news on Medium. The new logo has changed from the traditional colour of silver to blue.
Reportedly, different logos can be used interchangeably at your leisure to keep in line with the traditional “open source nature of Litecoin.”
In its rampant bid to drive global adoption, Litecoin’s decision to update their logo is one that “symbolizes new ambitions.”
The silver to Bitcoin’s gold has seen remarkable growth in the last seven years, in areas such as network security, exchange liquidity, merchant payment processes, and so on. The announcement details how Litecoin is “one of the very few coins to have been launched fairly without any premine that’s also naturally built a large global community over time.”
Now, Litecoin wants to enter the mainstream, and the company is acutely aware that the ‘silver to Bitcoin’s gold’ narrative must be rewritten in order to promote mainstream adoption.
Litecoin is seeking to compliment Bitcoin rather than compete with it. The original cryptocurrency has scaling issues, and as the Medium post suggests, “because Bitcoin is the ultimate store of value, it tends to become difficult as a medium of exchange.” Even with the Lightning Network implementation, Litecoin believe Bitcoin is still unable to cater for the global population as a payment system.
So, Litecoin is aiming to remedy this, “whether it be through on-chain with its faster and cheaper fees or off-chain with the introduction of Atomic Swaps on the Lightning Network.”
Litecoin’s decision to rebrand to blue is in large thanks to ‘The Token Agency.’
Reportedly, The Token Agency’s Robbie Coleman has stated: “For us, the blue illicits the notion of ‘trust,’ which the community on Reddit identified as important for Litecoin. It’s also the colour of calm and serenity, and as such inspires a feeling of security and safety.”
Litecoin isn’t the first cryptocurrency to have undergone rebranding. Both NEO and Ripple (XRP) have done so in the past as well.
It certainly seems as though Litecoin is intent on breaking through into the mainstream. Recently, Coin Rivet reported on Litecoin’s partnership with the UFC to bring more awareness to their brand.
For more information and guides from Coin Rivet, click here.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.