The Advance of Litecoin

Charlie Lee is a computer scientist, best known as the creator of Litecoin. He serves as the managing director of the Litecoin Foundation and he also works for Coinbase.

The above video is Lee’s keynote presentation at the 2018 Litecoin Summit on September 14, 2018.

Lee preceded his presentation with a brief talk about the controversy surrounding the sale of his Litecoin holdings in December 2017 at the top of the crypto market.

As part of his primary talk, Lee discussed the energy use in Proof of Work mining as that which makes Litecoin and Bitcoin secure.

Lee compares Litecoin to Bitcoin as an analog to silver to gold, where Litecoin is silver and Bitcoin is gold.

He notes that we live in a fiat currency world and that’s not going to change for a while.

He describes the end game of Litecoin and Bitcoin as sound money that is also being used by merchants.

Lee presents a variety of graphs that show Litecoin has gone up exponentially, but the creation of blocks is unchanged at every 2.5 minutes and notes that the Litecoin blockchain has been working almost flawlessly.

He noted that Litecoin is adopted and supported by almost all exchanges and is already accepted by lots of merchants.

Lee also discussed future development, which includes the importance of sound money, as well as scaling and the desire to increase fungibility and privacy of Litecoin.

He described Litecoin as decentralized money and “people’s money,” referring to it as money that can’t be devalued or taken away.