History of Litecoin
Charlie Lee is the creator of Litecoin, the most popular alternative cryptocurrency to Bitcoin.
He is an Engineer Manager at Coinbase. Prior to joining Coinbase, he spent 6 years at Google working on YouTube Mobile, Chrome OS and the Google Play Games platform.
Born underground into a broken and over-regulated world, Bitcoin was forged by a segment of the population that yearned to be free.
Living in the subterranean of the internet underworld, Bitcoin initially struggled to gain traction.
Standing up at his desk at Google one sunny afternoon, whilst between projects of overhauling YouTube and Chromebook, he announced to the world: “LET THERE BE LITECOIN!”
Just eleven days later, Oct 13th 2011, there was Litecoin.
There were to be no “pre-mined” coins for the enrichment of the developers; there was to be a cap on the total numbers of coins to lend value and incentive; there was to be a clear, superior vision. The community asked, Litecoin delivered.
“Faster, Smarter, Cheaper” is Litecoin’s proud reputation. 2.5 minute “blocks”, compared to Bitcoins 10-minute time; the first to market in March with “Segwit”, a future-forward upgrade with Bitcoin signalling intent only August 1st, and the golden grail: drastically lower transaction fees (as of this writing 12 cents compared to Bitcoin’s 2 dollars.)
No one knows with certainty where Litecoin will end up. Talk of a “moon landing” pervades online discourse as a growing community of enthusiastic, dedicated Litecoin adopters gleefully thrust their trophy to the sky, and imagine a brighter future.
Today, however it seems that the advent of Lightning Networks might just change the world of cryptocurrency, as we know it!
It will be interesting to see how it all pans out.