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Litecoin was released via an open source client on GitHub on October 7, 2011 by Charlie Lee, a Google employee and former Coinbase technical director. The Litecoin network has been active since 13 October 2011.
It was a fork of the Bitcoin Core client, which differed mainly from the reduction of block generation time, the increase in the maximum number of coins, a different hashing algorithm and a slightly modified GUI.
Since Charlie Lee she was one of the central figures in the cryptographic ecosystem. Their initial goal was to be a competent rival of Bitcoin and now, Lee again plunged into the same subject. In the recent interview with Vlad Costea by Crypto Insider, he said:
"So, it's easy to understand and helps people get in and gives them a reason why Litecoin is precious and I think the fact that the currency was around the net was very stable, it did not have any dead time, has not been attacked is protected by his basic mining machine. "
He also said that the LTC incident is due to the natural market trend. He says he understands where the critics come from, but it's still "stupid" to do the same.
"People lose money and they want someone to be blamed, and they think that for some reason I had internal information, and it's silly." When I sold, everyone thought it would go to $ 1,000. "
After creating LTC, Lee quit his job at Coinbase to focus entirely on developing and promoting his product. While Lee does not own any of his own tokens at the moment, he continues to commit to the improvement of Litecoin.
Charlie Lee he says he is more focused on improving the technological side of his cryptography than thinking about current price fluctuations. He added:
"My feeling is that there will be a handful of cryptocurrencies that will actually be used as money.There is obviously a lot of scams and currencies that are not useful to everyone and those values will fall in. You'll see some coins die and the forts will survive."
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