Charlie Lee who is the founder of Litecoin has analysed the accord between Bitcoin and Litecoin. Lee has also shared his thoughts on crypto awareness. Lee has pointed out that the synergy of Satoshi Nakamoto‘s anonymousness in the Bitcoin ecosystem and the cryptocurrency itself.
Lee started to talk by stating that a “public figure” in a decentralised system is an absolute alliteration. But Lee has also progressed with explaining the disadvantages of this system.
Charlie Lee has mentioned the relation between Bitcoin and Litecoin
…two years ago, I saw that Bitcoin was having all this trouble with activating SegWit. I saw SegWit as an amazing feature, but there was all this “FUD” around it. I realized I could help out by pushing Litecoin towards getting SegWit activated. Being its creator, I was able to make that happen.
Video: Charlie Lee’s Keynote at the 2018 Litecoin Summit (Litecoin Foundation)
Charlie Lee continued explaining the disadvantages of crypto money having a “public figure”:
Obviously, Litecoin is more centralized than Bitcoin. If anyone wants to target Litecoin, they could attack me!
He made a comparison between Bitcoin and Litecoin and said that:
For Bitcoin, it’s hard to figure out when a consensus is reached. With Litecoin, it’s easier because I’m around.
Lee firmly believes that his stepping away from the Litecoin cryptocurrency will make it more decentralised. And he also pointed out that the apprehension of the communities is injudicious.
Lee finalised his speech by saying:
I’ll eventually have to step away from Litecoin — I’m talking years down the road, when Litecoin is used and more as a real-world currency. At that point, it wouldn’t make sense for the creator to still be around, dictating things,
