banner
Litecoin: Charlie Lee takes part in a Bitcoin-based project
Litecoin: Charlie Lee takes part in a Bitcoin-based project
Crypto

Litecoin: Charlie Lee takes part in a Bitcoin-based project

By Marco Cavicchioli - 10 Dec 2020

Chevron down

Charlie Lee founded Litecoin in 2011.  At the time he worked in Google and was very interested in Bitcoin, to which he always remained attached.

In fact, his creation, Litecoin, was nothing more than a project fundamentally based on the Bitcoin code, but specifically designed for on-chain microtransactions, something for which Bitcoin is not at all efficient. 

Therefore Litecoin (LTC) has never been a Bitcoin competitor, but a complementary protocol to allow on-chain transactions for which its big brother is not suitable. 

When LTC started trading in the crypto markets in 2013, it was worth $3 and remained more or less on that figure until April 2017.

Then during the big speculative bubble at the end of 2017, its price went up to $360 and then fell to $23 in December of the following year. 

In June 2019 it went back above $140 but then dropped back to $40 in December of the same year.

So the current price, around $75, is not only very far from the highs, but is still far from last year’s peak as well. 

In the course of 2020, it definitely reawakened, so much so that in February it had already risen above $80, only to plummet to $30 with the collapse of the financial markets in mid-March. In October, however, it began a new climb that took it up to $90 in November

Despite the similarities that occurred especially in 2020, the long-term LTC price trend is not comparable to that of BTC. 

In fact, the two projects, Litecoin and Bitcoin, are quite separate and are each going their own way. 

So it is hardly surprising that Litecoin’s creator, Charlie Lee, has continued to follow Bitcoin over the years

Charlie Lee, from Litecoin to Exordium

He recently took part in a very special project. 

It’s Exordium, a video game startup, the shares of which are issued and distributed using a technology based on the Bitcoin blockchain. 

Lee signed a so-called SAFT with Exordium, a Simple Agreement for Future Tokens that gave him the right to receive 10,000 EXO tokens representing the same amount of shares of the startup. 

What’s curious is that these tokens, which represent real shares in the company, were issued through Blockstream’s Liquid Securities, which is software that allows the issuance of tokens that comply with regulatory requirements using a sidechain based on the Bitcoin blockchain. 

Thus Lee decided to take part in this project, despite having nothing to do with Litecoin, probably because of its innovative nature thanks to the creative use of the Bitcoin blockchain.

Innovation is the order of the day in the crypto sector and is often unpredictable. This is why it may be useful to consider projects that are different from those that one is accustomed to using, or even working with. 

Moreover, Lee is no stranger to transversal collaborations, such as the one that is aiming to integrate Litecoin’s blockchain with that of Cardano

Besides, this sector is full of extraordinary minds working on different projects, to the point that collaboration can achieve results comparable to those obtained with competition. 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.