Enjoying the moment and making the most of the success that has been conquered by cryptocurrencies over the last few years, a bunch of anonymous coders recently decided to create a new altcoin called Coinye West, which was inspired by the rapper Kanye West. The only problem was the artist’s reaction to the tribute. In few words, Kanye hated the idea and immediately sent a cease-and-desist order to the developers, ordering them to shut down the project.
Well, the rapper is not exactly known for his sense of humor, so we couldn’t really expect another denouement… Nevertheless, hope is usually the last one to die, even when Kanye is part of the story.
At the time, still before the rushed launching, one of the project leaders told the site Noisey that the team’s goal was “to get people to use that kind of money more easily”, probably using a familiar figure like Kanye. Yep, that didn’t go too well.
Coinye, now without the ‘West’ to avoid any more legal problems, ended up being shut down and resuscitated shortly after by a new group of developers. The coin is still out there with a new image and virtual address, operating far away from its master Kanye.
The altcoin’s core is similar to Bitcoin’s and inspired in the world’s most famous digital currency, but it also has several differences like the maximum number of coins that could be mined, for instance. But there are more distinctions. Like the original coders once said, “Coinye is a cryptographic currency for the masses, while Bitcoin is for hardcore accumulators of money”.
Despite its troubled beginning, Coinye has conquered a few titles. For example, it was the first cryptocurrency officially inspired and named after a musician, although that association is long gone for the altcoin’s sake.
But you can find out more about this funny cryptocurrency with the help of the following infographic.