Interesting things are happening in the Litecoin ecosystem right now. Charlie Lee, the founder of Litecoin and a member of Coinbase, will leave the exchange. Instead, he will dedicate all of this time on advancing Litecoin and unlocking its full potential. This is major news for all Litecoin enthusiasts. It will be interesting to see if Litecoin can bring much-needed competition to Bitcoin.
A Shocking Decision By Charlie Lee
It does not happen all that often we see someone quitting their steady job to pursue cryptocurrency development. Although Charlie Lee has always been passionate about Litecoin, he has also pursued successes working for Coinbase. That has always worked out quite well, yet something changed quite recently. The interest in Litecoin has never been higher, yet the ecosystem needs to advance. As a result, Charlie Lee will leave Coinbase today and focus on Litecoin full-time.
Today’s my last day at @coinbase! I will miss working with you all.
I’m going to shift my focus to Litecoin now. To the moon! ? pic.twitter.com/Ys9dZwtTFO
— Charlie Lee (@SatoshiLite) June 10, 2017
Things have been falling into place for Litecoin as of late. The successful activation of Segregated Witness is a major feat. Especially when considering how all mining pool operators came together to see this upgrade activate don the network. Albeit many people see Litecoin as a “test environment” for Bitcoin features, the popular cryptocurrency is so much more. With Charlie Lee working on Litecoin full-time, interesting things are bound to happen sooner or later.
Leaving the Coinbase team is not an easy decision. That is only understandable, as our colleagues often turn into friends along the way. Making such a difficult decision is never fun, but sometimes, it has to be done. This departure also comes at a time during which Coinbase is seeking more funding. It is doubtful these two events are correlated in some way, but it is interesting to note regardless. Charlie Lee has been with Coinbase since 2013 and witnesses the spectacular growth of this company first-hand.
What is Next for Litecoin?
It is also interesting to note Coinbase eventually integrated Litecoin support. It seems this was Charlie Lee’s final “big moment” with the company. The time has come to focus on Litecoin and elevate the currency to new heights. It is unclear what the exact plan of action is, though. Rest assured all Litecoin holders are immensely pleased by this development. Experts feel Litecoin has been undervalued for far too long. Whether or not that will change, remains to be seen.
Header image courtesy of Shutterstock
About JP Buntinx
JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.
View all posts by JP Buntinx