Is LEOcoin The Real Deal?

Last week LEOcoin had its official debut and the coin's creaters claimed it would become the second largest cryptocurrency in the world after bitcoin. However, the launch was met with much

from cryptocurrency enthusiasts, who say the altcoin is nothing more than a "pump and dump" scam.

Dan Andersson, one of LEOcoin's founders, has said the cryptocurrency is more accessible and easier to use than bitcoin, and thus will be a good catalyst to push digital currencies into mainstream use. Andersson claims that his relationship with thousands of big name companies through the Learning Enterprises Organization will help spread the adoption of LEOcoin to merchants around the world. He claims that over 30,000 merchants have already signed on to accept the currency and that the number of users has risen to 150,000.

Many are criticizing LEOcoin, saying that Andersson's claims are unfounded and likely untrue. Since LEOcoin has yet to release a list of merchants willing to accept the currency, some have begun to doubt what he said. Also, LEOcoin has been criticized for touting its existence as a "new" coin offering. While its true that the official launch was on April 2, the coin has been mined since August 2014, something critics say the altcoin's founders were not forthcoming about.

While the April 2 launch was shadowed by skepticsm, many are excited about the new coin and look forward to its mainstream adoption. However, both supporters and critics will have to wait to find out whether or not the altcoin will withstand the test of time.