Home Litecoin News Litecoin [LTC] is extra centralized than Bitcoin [BTC] – Charlie Lee

Litecoin [LTC] is extra centralized than Bitcoin [BTC] – Charlie Lee

4 min read

In a current interview with SFOX, Charlie Lee, the previous Google worker and the pc scientist who created Litecoin [LTC], spoke about Satoshi Nakamoto’s anonymity within the cryptocurrency house and the Bitcoin ecosystem. He furthered the dialog about the benefits of being the general public face of Litecoin to contribute to the ecosystem.

Firstly, Lee established an opinion that the presence of a public face in a decentralized system is an oxymoron. In hindsight, he believes that he ought to have left the venture on an nameless be aware. Henceforth, the blockchain scientist talked about a number of benefits and drawbacks of being the face of Litecoin when keen to work on its progress.

Beneath benefits, he put down factors reminiscent of the convenience of SegWit activation for Litecoin because of his public presence. Based on Lee, it’s tougher to hold ahead an ecosystem that has many events working towards it, when the creator shouldn’t be round. Extra so, he was capable of push Litecoin ahead for SegWit activation as a result of he was round to facilitate it. In his phrases:

“Two years in the past, I noticed that Bitcoin was having all this hassle with activating SegWit. I noticed SegWit as a tremendous function, however there was all this FUD round it. I spotted I may assist out by pushing Litecoin in the direction of getting SegWit activated. Being its creator, I used to be capable of make that occur. “

He admitted that there are disadvantages related to a cryptocurrency having a face. He additional defined his level by citing Litecoin as being extra centralized than Bitcoin. Subsequently, Lee shared that an assault may simply be launched at him on the pretext of targetting Litecoin.

Due to this fact, concluding his ideas, Lee conveyed that he might need to ultimately step away from the ecosystem to ensure that it to develop into extra decentralized. He added:

“I’ll ultimately need to step away from Litecoin — I’m speaking years down the highway, when Litecoin is used and extra as a real-world foreign money. At that time, it wouldn’t make sense for the creator to nonetheless be round, dictating issues.”

Lee ended his assertion by propagating that democracy is extra inefficient than dictatorship, however is extra decentralized.

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Priyamvada Singh

Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal College, she believes blockchain expertise to be a revolutionary software in advancing the longer term. At the moment, she holds no worth in cryptocurrencies.

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