| Place of birth | Ivory Coast |
| Description | Founder and Developer |
| Alma mater | Massachusetts Institute of Technology |
| Known for | Creating LiteCoin and also selling his entire holdings. |
The only property of sound money that LiteCoin and BitCoin don’t have is Fungibility.
Biography:
Charlie Lee is the managing director of the Litecoin Foundation and also the founder of litecoin. He was born in Ivory Coast in West Africa, and at the age of 13, he immigrated to the United States.
Litecoin is a division of bitcoin that’s meant to serve as silver to Bitcoin’s gold instead of striving with it. In 2011, Lee declared openly litecoin on Bitcointalk on a bitcoin forum that was built by Satoshi Nakamoto. In 2013, litecoin increased by 395%.
Lee wanted to make litecoin different from bitcoin in two ways. First, he wanted to make it practical and possible for an average customer to mine the coin making use of consumer-grade hardware, as contradicted to the technical mining hardware that bitcoin uses. Second, Lee wanted to build a network that paved the way for cheaper and faster transactions, i.e., he wanted 2.5 minutes for each transaction compared to the 10 minutes that bitcoin used. The cheaper and faster transaction fee was planned to help consumers use litecoin for daily transactions.
After the creation of litecoin, Lee joint the crypto exchange startup as a director of engineering, while he was at Coinbase, Lee drifted his attention from litecoin and advancement on the protocol that was stagnant.
Lee finally left Coinbase in 2017 in order to commit his time and focus to the Litecoin foundation.