Litecoin founder Charlie Lee shared his thoughts on the cryptocurrency space in an interview with Business Insider.
He said he has faith in the future of bitcoin, but believes its success depends on the help of technologies like Lightning Network, or alternative coins like litecoin, to make payment processing faster and less expensive.
He said bank speculation and mainstream investors aren’t a bad thing — it’s a sign that cryptocurrencies are being taken seriously.
Lee also shared his concerns that scam artists could take advantage of investors by talking up new coins.
When Charlie Lee first founded litecoin in 2011, cryptocurrencies were a whole different ball game. Bitcoin, the first cryptocurrency ever, was just two years old and saw its price jump from $1 a bitcoin to around $30, before falling back to the single digits by the close of the year.
There were few, if any, competing coins — though with a tight knit community of technically savvy engineers leading the charge, there were plenty of people with ideas for how to make bitcoin better.
One of those people was Lee, a Google software engineer at the time, who developed litecoin to address the widespread scalability flaws which prevent bitcoin from processing much more …read more
Source:: Businessinsider – Technology