Is There Room For Another Cryptocurrency?

On Wednesday, the introduction of LEOCoin made waves as many wondered if it would have enough momentum to compete with the most popular cryptocurrency in the world, bitcoin.

The digital currency space has several different competitors, called "altcoins," but none have made as much of an impact of the UK's Learning Enterprises Organization's LEOCoin.

What's The Big Deal?

LEOCoin's unveiling was a game-changer for many cryptocurrency enthusiasts as the company launching the altcoin claims it already has enough support to make it the second largest cryptocurrency in the world after bitcoin.

The Learning Enterprise Organization provides executive education services that span a wide range of industries and the firm says its rolodex of customers provided a great springboard for LEOCoin.

Set to debut on April 2, LEOCoin is rumored to have 131,176 businesses already on board with using it.

Related Link: Is Regulation A Help Or Hindrance To Bitcoin?

What's The Difference?

LEOCoin co-founder Dan Andersson says his cryptocurrency is based on newer technology than that which powers bitcoin.

The advantage to using LEOCoin, Andersson claims, is the currency's ability to facilitate real-time transactions without any commission fees. He expects that bitcoin and LEOCoin will lead the digital currency market together in the coming years.

What Does Bitcoin Have To Say?

Some bitcoin enthusiasts believe that there are already too many altcoins on the market and say LEOCoin is just adding to the white noise in the cryptocurrency space.

However, others believe that LEOCoin's introduction will be beneficial to the digital currency industry as a whole since its introduction could help push mainstream adoption.