Youssof Altoukhi, the 16-year-old inventor of the Y Coin, is one of several new entrants into the cryptocurrency markets who have launched a coin or related project. But one of the things that sets Altoukhi and his Y Coin apart is that he is remarkably young, even in this young-tending space. He was born in Beirut, Lebanon, in June 2005. 

Some people will tell you that their first experience as entrepreneurs was selling lemonade at a roadside stand. For Altoukhi, who lives in London, England, the first experience was somewhat different.

How Youssof Altoukhi Got Started

Altoukhi received a 3-D printer as an early gift. After some experimentation  he learned how to use it to make custom phone cases for his friends. He soon set up a website to sell them online. There weren’t many sales, but the same could be said of many childhood lemonade merchants, too.

Another of his capital adventures involved reselling sneakers and limited edition clothing on a website and an Instagram account. While engaged in this, he had the prescient idea of advertising on Google Maps.

He called his sneaker business “Little Kicks,” for SEO reasons, and ran that business for more than a year. 

He was all of 14 when he created Y Coin, in 2019. This isn’t just-another crypto. It is a groundbreaking experiment that may end up changing the way cryptos work.

Y Coin uses a protocol known as GHOST (Greedy Heaviest Observed Subtree), so that the new blocks are massively encrypted but this does not affect the speed. The GHOST Protocol is not original with Altoukhi. It was invented in 2013, and its name was inspired by the title of a Mission: Impossible movie in theaters at the time. But it suits Altoukhi’s purposes nicely. For example, it allows Y Coin to beat the matriarch of the cryptos, Bitcoin, all hollow in speed. Y Coin has a speed of 25 transactions per second (TPS). Bitcoin’s TPS is about 3.

A System of Democratic Votes

Another important point: the Y Coin incorporates a system of democratic votes. Altoukhi sees it as “decentralised coin controlled by the people, not the organization.” This point is original to Altoukhi. 

When he speaks of his coin as “democratic” in this context he means, roughly, in accordance with the principle of one person, one vote. Regardless of how many cryptos any one of them owns. Each and every person with any Y Coin holding gets one and only one vote.

Indeed, visitors to the website for Y Coin are greeted at the homepage with the stark statement, “Welcome to Democratic Governance.” The idea is that future changes to the coin (such as the sort of change we have seen, recently, with Ether and its London Hard Fork) will be in the hands of the people. 

Y Coin, which goes by the abbreviation YCO, has an emissions rate of 200,000 a month and a maximum supply of 150 million. 

Notice that in this respect, the specification of a maximum supply, YCO is siding with the traditional cryptos and ignoring the heresy of the Dogecoin. 

He Has Other Talents Too

Youssof Altoukhi, the 16-year-old inventor of the Y Coin, is one of several new entrants into the cryptocurrency markets who have launched a coin or related project. But one of the things that sets Altoukhi and his Y Coin apart is that he is remarkably young, even in this young-tending space. He was born in Beirut, Lebanon, in June 2005. 

He received his formal education at Eaton Square Mayfair, a private co-educational secondary day school for ages 11 to 16. It is a school that The Guardian once called “fit for an oligarch.” 

The question “who is Youssof Altoukhi” has other answers worth mentioning. Aside from Y Coin and entrepreneurial ambition, Altoukhi is a musician. He uses the Instagram handle of Y_Beast and the YouTube channel Y Beast to get his music out to the world. He has told interviewers that he sees his music as a passion and hobby, not as a career path.  

We have no doubt that this 16-year-old will have plenty of paths to choose from.