For a lot of cryptocurrency fans, bitcoin and Ethereum are the major focal points in the crypto space. Besides this, some amateur investors may know of other digital currencies such as Ripple, Cardano, or EOS, and they may also be aware of gimmick tokens such as Dogecoin.
The Current Position of Litecoin
Some of the key cryptocurrencies are usually ignored, and Litecoin seems to be one of the digital currencies that is frequently neglected. Presently, Litecoin is sitting at the number 7 position on the list of the biggest cryptocurrencies based on market capitalization, and the total market cap of the digital currency is over $9 billion.
However, for some dedicated enthusiasts, Litecoin is still indispensable in the world of digital currencies, and Charlie Lee (the founder of Litecoin) earns respect and admiration that is usually reserved for Vitalik Buterin (the creator of Ethereum) or even Satoshi Nakamoto.
Lee’s Early Life and Beginning Career
Lee was born in Ivory Coast, and his parents lived in the nation for decades. When Lee was 13, he moved to the US with his parents. He attended MIT after graduating high school in 1995. He earned bachelor’s degree and master’s degree in computer science.
At the early stages of his career, he showed interest in computer technology. In the early 2000s, he worked for some leading tech companies including Guidewire Software and Google. Lee started developing the idea of Litecoin during his stint at Google.
From Miner to Developer
He started to experiment with mining along with other talented computer scientists. Lee also met with a developer that worked on the blockchain client software for bitcoin – Mike Hearn. He developed a digital currency in September 2011, and the project was called Fairbix, although the project was not a success.
Barely a month after Fairbox failed, Lee launched Litecoin also. This digital currency was modeled after the core code of bitcoin, and he also did further adjustments that he felt would improve upon bitcoin. Although the digital currency is modeled after bitcoin, Lee has worked so hard to make the coin an alternative to bitcoin.