Litecoin (LTC) Price Today

Who Are the Founders of Litecoin?

Charlie Lee, an ardent supporter of cryptocurrencies, is the managing director of the Litecoin Foundation—a non-profit organization. Besides Lee, the Litecoin Foundation includes three other individuals on the board of directors: Xinxi Wang, Alan Austin, and Zing Yang. 

Charlie Lee, also called “Chocobo,” was an adopter of cryptocurrency and held the role of director of engineering at Coinbase between 2015 and 2017 before moving on to other ventures.

What Makes Litecoin Unique?

Due to its simplicity and clear utility benefits, Litecoin is one of the most popular cryptocurrencies. Litecoin’s main benefit comes from its speed and cost-effectiveness. Litecoin transactions are complete in a few minutes and transaction fees are nearly negligible.

All these factors makes Litecoin an attractive alternative to Bitcoin, especially in developing countries, where transaction fees are one of the important factors in deciding which cryptocurrency to support.

In late 2020, Litecoin witnessed the release of the MimbleWimble (MW) testnet, which is useful to test Mimblewimble-based confidential transactions on Litecoin. This feature allows Litecoin users to benefit from significantly improved privacy and fungibility.