Litecoin Foundation CEO Shares His Thoughts on Decentralized Money
The Litecoin blockchain has been up and running for over a decade without downtime.
Litecoin (LTC), known as the "money to the gold of Bitcoin", has been around for nearly 11 years - quite an achievement considering a good number of cryptocurrencies are doing bankruptcy within 12 months of their launch. Cointelegraph spoke to Litecoin Foundation Managing Director Alan Austin about why he thinks Litecoin's core utility serves as a reliable means of payment.
As Austin said, much of his view of Litecoin is drawn from personal experience:
"When I finished graduate school, I worked with tech and real estate startups. And one of the things I did was manage accounts for companies like Bank of America and Fannie Mae , and it was surprising how old their technology was and how difficult it was to get things done."
After the financial crisis of 2008, Austin began to lose faith in the traditional financial system. "Seeing how the big banks set different standards for everyone at their discretion when it comes to access to money, and how now they're the ones being bailed out, it made me really appreciate what blockchain technology was trying to do. “, he told Cointelegraph. .
Austin explained that Litecoin was created with many features and attributes similar to Bitcoin (BTC). "For starters, it's decentralized, and there were no pre-mine tokens given to founders, making it a fair launch. It also has a limited supply, is very liquid, and has very low fees. Additionally, the blockchain has been online for 11 years without downtime. According to Austin, Litecoin's development team is primarily focused on three efforts: onboarding business partnerships, merchants, and card awareness. debit Litecoin Card.
“When you use stablecoins to pay for goods, really all you are doing is using a digital version of fiat currency. controls your transactions."
With the launch of Litecoin
The Litecoin blockchain has been up and running for over a decade without downtime.
Litecoin (LTC), known as the "money to the gold of Bitcoin", has been around for nearly 11 years - quite an achievement considering a good number of cryptocurrencies are doing bankruptcy within 12 months of their launch. Cointelegraph spoke to Litecoin Foundation Managing Director Alan Austin about why he thinks Litecoin's core utility serves as a reliable means of payment.
As Austin said, much of his view of Litecoin is drawn from personal experience:
"When I finished graduate school, I worked with tech and real estate startups. And one of the things I did was manage accounts for companies like Bank of America and Fannie Mae , and it was surprising how old their technology was and how difficult it was to get things done."
After the financial crisis of 2008, Austin began to lose faith in the traditional financial system. "Seeing how the big banks set different standards for everyone at their discretion when it comes to access to money, and how now they're the ones being bailed out, it made me really appreciate what blockchain technology was trying to do. “, he told Cointelegraph. .
Austin explained that Litecoin was created with many features and attributes similar to Bitcoin (BTC). "For starters, it's decentralized, and there were no pre-mine tokens given to founders, making it a fair launch. It also has a limited supply, is very liquid, and has very low fees. Additionally, the blockchain has been online for 11 years without downtime. According to Austin, Litecoin's development team is primarily focused on three efforts: onboarding business partnerships, merchants, and card awareness. debit Litecoin Card.
“When you use stablecoins to pay for goods, really all you are doing is using a digital version of fiat currency. controls your transactions."
With the launch of Litecoin
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