Billy’s Briefs – Lethean Review



The LTHN project centres around internet privacy. So far this has focussed on and privacy through its VPN service. Initially LTHN aimed to contend with the top privacy focussed cryptocurrencies, but for now it has pivoted slightly, concentrating on its VPN service.


Intense coin was launched on 15 August 2017 before rebranding to LTHN in 2018. LTHN uses the CryptoNight algo (like $XMR and $BCN) giving it strong cryptographic privacy and also allowing LTHN to easily integrate upstream innovations from $XMR and others using the also.

What is a VPN?

A VPN helps you to surf the web privately. From Mozilla: “When you connect to a VPN, you create a secure, encrypted tunnel between your computer and the VPN remote server. The data is essentially gibberish to anyone who intercepts it. Your ISP, government or hackers won’t know which websites you visit”

What VPNs allow

As well as privacy, VPNs allow you to access Geo-blocked content, such as videos, websites and any other content on the internet, without anyone snooping

Use Case

Using LTHN to pay for a VPN gives more privacy than other VPN providers using legacy payment systems who could theoretically have their payment records subpoenaed whereas transactions on the LTHN network are private.

Using LTHN as opposed to traditional payment networks also allows users to pay per minute of usage, adjustable to when/how users need to browse anonymously. VPNs relying on legacy payment systems cannot offer such a subscription given high payment tx costs.

LTHN also enables users to earn $LTHN by selling their unused internet bandwidth on the marketplace acting as exit nodes for traffic.

Lethean: How the Browser VPN works

Coin Metrics

Price: $0.001660/ 40 sats

Market Cap: 866

Volume: $5,126.40

Circulating Supply: 619 941 499 (62.00%)

Max Supply: 999 481 516

Algo: CryptoNote

ATH: $0.100851


LTHN is one of the few crypto projects with a working product, including easy to use browser extensions and a full Windows client VPN which are actually being used (see graph of VPN downloads below).

Firefox downloads in the last 3 months
Users of Google Chrome


LTHN’s adoption is impressive in a crypto world filled with hype and vapourware. That said the VPN space is very competitive and LTHN will need to continue to innovate to gain market share.

The full client VPN was recently released on 29th March and you can read more about it here.


LTHN has a decent and realistic roadmap – the 2 most interesting items IMO being the mobile client in Q3 and its Privacy enhanced mode in Q3

The privacy enhanced mode basically enhances privacy by creating multiple encrypted connections between the user and content and allows the user to choose over which connection content is provided – I hope I more or less got that right!


LTHN has a large 8 person dev team together with 5 BD and marketing team members. Although the majority are not fulltime, it is a good sized team for a project of LTHN’s size.

While less well known than other crypto dev teams, LTHN’s is one to be reckoned with, for example they recently implemented CryptoNightR before $XMR. Their marketing team also keeps busy, typically publishing two or so Medium articles per month and they are active on the social channels.


Given LTHN already has a user base through its VPN service, it is in some ways lower risk than other cryptos since demand for LTHN will be somewhat maintained by VPN customers, even if speculative demand falls.

With that said, I believe the following are risks for LTHN

1-attracting top dev talent with a limited budget

2-large VPN providers crowding them out of the market

3-regulatory risks


LTHN is different from most cryptos in that it has a working product which is actually being used. I believe the future is bright for LTHN’s VPN business.

However, by only focussing on VPNs, it is limiting the total size of the LTHN network to the size of the VPN market (which at c. $18b is of course still much larger than most cryptos). Therefore for LTHN to truly reach its potential and become a global, permissionless, and anonymous payments network, it will need to broaden its horizons and become a crypto for all payments, not just payments for VPN services.

Further Reading


The Daily Chain – Inform. Educate. Succeed.

BillyBobBagholder is an extremely passionate and dedicated Cryptocurrency researcher and reviewer. He is immensely popular across social media for his detailed and compelling tweet-storm style coin reviews that he delivers on Twitter. You can follow Billy on Twitter

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