Ethereum Creator Vitalik Buterin Congratulates Litecoin Creator Charlie Lee for Following His Crypto Path


Charlie Lee, Litecoin’s creator has been congratulated by Vitalik Buterin, Ethereum’s co-founder after writing a tweet asking the community how they would describe themselves regarding the crypto space.

On January 6, Charlie Lee stared a poll in which he asked which kind of crypto enthusiasts they are. The options available were Bitcoin extremist, Bitcoin maximalist, Altcoin maximalist, and Nocoiner. The winning option was Bitcoin maximalist with 48% followed by Altcoin maximalist with 33%.

He explained that Bitcoin maximalists consider that Bitcoin (BTC) is the best digital currency in the market but there could eventually be other coins available as well. Bitcoin extremists are those who believe that Bitcoin is the only virtual currency that will survive and that all the other coins will go to zero. Altcoin maximalists consider that alternative cryptocurrencies are going to surge leaving Bitcoin behind but without killing it.

A Twitter user called @CryptoN_T wrote that he thought that Charlie Lee had more self-respect than what he showed. Furthermore, he said that Lee followed the same path as Vitalik Buterin, explaining that the first thing to d was to personally attack common sense and after it ‘follow the pseudoscience shitcoin buzzwords.’

Vitalik Buterin did not remain in silence. He answered this Tweet congratulating Litecoin’s creator for following his path. After congratulating him, Buterin asked Lee to go further and move to a Proof-of-Stake (PoS) consensus algorithm. Litecoin (LTC) is currently based on a Proof-of-Work (PoW) consensus mechanism in which miners confirm transactions and earn rewards.

Ethereum is currently moving towards a full PoS consensus algorithm to make the network more efficient. As soon as January 16, Ethereum is going to experience a new network upgrade via a hard fork called Constantinople. This non-contingent network upgrade will be reducing mining rewards from 3 ETH per block to 2 ETH. This is going to disincentivize miners and prepare the network to the next upgrade towards a full Proof-of-Stake.

At the moment, Litecoin does not have any intention to move towards PoS. However, there are some suggestions that Charlie Lee could be working on some privacy features for Litecoin that could be released in the future.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide