Litecoin has faced criticism over time, particularly since Charlie Lee, its creator, decided to sell off his holdings due to concerns about potential conflicts of interest, causing some in the crypto world to grow doubtful.
Despite Lee having valid reasons for cashing out his assets, critics have since been vocal about their skepticism. LTC To many, Lee's sale of LTC suggested he was stepping away from his involvement, which sparked debates about the future of the currency.
In reality, Lee remains committed. Recently, he responded to the speculation with a detailed Twitter thread addressing the misunderstanding circling the community.
Not a Dead Project
To an observer checking Litecoin's GitHub, it might seem there's little going on. In 2019, the records appear almost stagnant. And now, leaked chats suggest discord over Litecoin's current course and its position in the market.
This hasn't sat well with investors who expected development to surge alongside Bitcoin's recent growth in price.
Let’s clear up the misconceptions.
In the eight-year journey of Litecoin, there have been just a few core developers focusing on Litecoin Core.
At various points in time, it\"s been me, @wtogami , @thrasher_au , @shaolinfry , @TheRealXinxi , and @loshan1212 .
— Charlie Lee Ⓜ️????️ (@SatoshiLite) August 11, 2019
Yet, as Lee explains, the visible 'zero updates' on Litecoin's GitHub is misleading. Due to Litecoin's similarities with Bitcoin, updates reflect differently on GitHub than typical commits in other projects.
The updates to Litecoin Core show as past commits rather than as new changes. So, it's not a case of developers slacking in 2019.
Additionally, the perceived inactivity stems from a practice where developers work independently on different branches before merging changes. This approach isn’t new, as Lee humorously noted.
Lee addressed the project’s venture into privacy features, distinguishing it from Bitcoin with revolutionary aspects.
Despite announcing MimbleWimble and Confidential Transactions, visible progress has been scarce.
Litecoin Makes Strides in Adoption
Lee candidly admitted he faltered, having been preoccupied with his primary role as the Managing Director of the Litecoin Foundation, voicing regret over communication gaps.
As reported by Blockonomi previously Indeed, under Lee's leadership at the Litecoin Foundation, several major initiatives have been launched this year.
, Miami Dolphins, an NFL team, embraced LTC as their 'official cryptocurrency,' which, in essence, connects LTC with one of the sport's most enthusiastic fan groups.
Moreover, this year, the Litecoin Foundation partnered with Flexa, a budding crypto startup, to incorporate LTC into its payment platform, SPEDN.
