Litecoin has been a crypto that has managed to overcome adversity. Created as a faster and cheaper alternative to bitcoin, this “old” cryptocurrency has had a very active journey during its existence, becoming one of the five most important cryptos in the ecosystem.
The main face behind this blockchain is Charlie Lee, a developer highly committed to his project, active in social networks and willing to face the users when it has been necessary. However, he has also managed to coordinate the best decisions to make Litecoin a currency by itself, surpassing its original image of “a cheaper bitcoin.”
In its eagerness to spread the use of Litecoin in everyday activities, the LitePay project sought to offer people the possibility of making various purchases and payments in Litecoin, allowing the platform to exchange them directly into FIAT. In this way, users would not have to continually be passing their funds to an Exchange or through P2P markets but would simply use a specially designed credit card for this purpose.
The project kept the community expectant until the last moments. However, skepticism and suspicions began to emerge after its CEO conducted an AMA on Reddit, receiving a wave of negative criticism without being able to offer concrete solutions or explanations.
After that, the road was complicated. LitePay’s CEO announced his resignation and the sale of the company, triggering a price collapse in Litecoin candles. However, Charlie took his share of the responsibility and just went ahead, learning from the mistakes[1]:
If there were those who thought that this might be the end of the famous crypto, they probably already realized they were wrong. The team’s efforts to exploit the potential of this blockchain (decentralization, mass adoption, scalability, speed and
