Always the little sibling, the silver to Bitcoin’s gold… Litecoin was conceived in 2011 as a solution to some of the liquidity and speed problems that Bitcoin was encountering. With a block time of 2.5 minutes compared to 10 whilst maintaining the block size of 1MB, Litecoin has always been able to confirm nearly four times as many transactions as Bitcoin, and it also has 4 times as many coins available.
It might not have received the attention of Ethereum as even more of a newcomer, but I wonder whether that story would have played out in the same way if it weren’t for the explosion of ICO activities in the past year or so, demanding a plethora of ERC20 tokens. Had crowdfunding taken a different route culturally, could things have been different for Litecoin? We’ll never know. Certainly its nimbleness should have enabled a higher profile than that of the two big heavyweights, such as the ability to pioneer SegWit functionality and the lightning network. However perhaps by staying out of the limelight there have been other advantages, such as avoiding high-profile forks and other controversies.
And whilst remaining in the shadow of its “big bro” Bitcoin, Litecoin has been a consistent 10 ten performer, and was one of the first 3 to be listed on Coinbase for direct purchase. Of course it’s a given that it will be part of the launch offering on LocalCoinSwap this summer, but what else does Litecoin’s future hold?
Its creator, former googler Charlie Lee, famously sold most of his position during the boom of December 2017, stating at the time “Litecoin is more centralized because I’m around, so it has a more centralized development team, has more centralized foundation. I can steer litecoins towards my vision, and people will listen to me because I created it.”, suggesting that he still saw it as very much his project under his control, regardless of his personal investment. However this week in an interview with TenX, Lee appeared to...