Charlie Lee | |
|---|---|
 | |
| Born | Ivory Coast |
| Education | BS and MS, computer science, Massachusetts Institute of Technology, 2000 |
| Website | Charlie Lee on Twitter |
Charlie Lee is a computer scientist, best known as the creator of Litecoin. He serves as the managing director of the Litecoin Foundation. [1] [2]
Lee was born in Ivory Coast, moved to the United States at the age of 13, and graduated from high school in 1995. [3] He graduated from the Massachusetts Institute of Technology with bachelor's and master's degrees in computer science in 2000. [3]
Lee's brother, Bobby C. Lee, is the founder and CEO of cryptocurrency exchange BTC China. [4]
For a decade in the 2000s, Lee worked for Google. His work for the company included writing code for ChromeOS. [5] In 2011, Lee became interested in Bitcoin. [6] In October 2011, he released Litecoin on Bitcointalk. [7] He had written the blockchain technology based on Bitcoin in his spare time while employed at Google. He released Litecoin to the public after mining only 150 coins. [5] Lee has stated that he did not intend to compete with Bitcoin but meant Litecoin to be used for smaller transactions. [6]
In July 2013, Lee left Google and began working at Coinbase, before the cryptocurrency exchange adopted the coin he had created. [8] Lee held the position of Engineering Director until 2017. [9]
In December 2017, Lee announced on Reddit that he sold almost all of his Litecoin holdings due to a perceived conflict of interest. [10] He had been criticized for his tweets, which had a possible effect on the price of the coin. [11] Lee sold or donated all of his coins except for a few minted in physical form, which he kept as collectibles. [12] [13]
Lee is currently working full-time with the Litecoin Foundation on fostering Litecoin adoption. [14]
Bitcoin is the first decentralized cryptocurrency. Nodes in the peer-to-peer bitcoin network verify transactions through cryptography and record them in a public distributed ledger, called a blockchain, without central oversight. Consensus between nodes is achieved using a computationally intensive process based on proof of work, called mining, that secures the bitcoin blockchain. Mining consumes large quantities of electricity and has been criticized for its environmental impact.
A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.
Litecoin is a decentralized peer-to-peer cryptocurrency and open-source software project released under the MIT/X11 license. Inspired by Bitcoin, Litecoin was among the earliest altcoins, starting in October 2011. In technical details, the Litecoin main chain shares a slightly modified Bitcoin codebase. The practical effects of those codebase differences are lower transaction fees, faster transaction confirmations, and faster mining difficulty retargeting. Due to its underlying similarities to Bitcoin, Litecoin has historically been referred to as the "silver to Bitcoin's gold." In 2022, Litecoin added optional privacy features via soft fork through the MWEB upgrade.
The Bitcoin Foundation is an American organization that was formerly a nonprofit corporation. It was founded in September 2012 in an effort to restore the reputation of Bitcoin after several scandals, and to try to promote its development and uptake. The organization is modeled on the Linux Foundation and was funded mainly through grants made by for-profit companies that depend on the bitcoin technology.
Mt. Gox was a bitcoin exchange based in Shibuya, Tokyo, Japan. Launched in 2010, it was handling over 70% of all bitcoin transactions worldwide by early 2014, when it abruptly ceased operations amid revelations of its involvement in the loss/theft of hundreds of thousands of bitcoins, then worth hundreds of millions in US dollars.
Zerocoin is a privacy protocol proposed in 2013 by Johns Hopkins University professor Matthew D. Green and his graduate students, Ian Miers and Christina Garman. It was designed as an extension to the Bitcoin protocol that would improve Bitcoin transactions' anonymity by having coin-mixing capabilities natively built into the protocol. Zerocoin is not currently compatible with Bitcoin.
Charles Shrem IV is an American entrepreneur and bitcoin advocate. He co-founded the now-defunct startup company BitInstant, and is a founding member of the Bitcoin Foundation. In 2014 he was sentenced to two years in prison for aiding and abetting the operation of an unlicensed money-transmitting business related to the Silk Road marketplace. He was released from prison in 2016. In 2017, he joined Jaxx and served as its chief operating officer, and founded cryptocurrency advisory CryptoIQ.
Bitstamp is a European cryptocurrency exchange founded in 2011. It is the world’s longest-running cryptocurrency exchange. It allows trading between fiat currency, bitcoin and other cryptocurrencies, such as the U.S. dollar, the euro, the pound sterling, Ethereum, Litecoin, Ripple, Bitcoin Cash, Algorand, Stellar, and USD Coin. Business operations are conducted from its registered headquarters in Luxembourg City, with a satellite office in Ljubljana.
Bitcoin is a cryptocurrency, a digital asset that uses cryptography to control its creation and management rather than relying on central authorities. Originally designed as a medium of exchange, Bitcoin is now primarily regarded as a store of value. The history of bitcoin started with its invention and implementation by Satoshi Nakamoto, who integrated many existing ideas from the cryptography community. Over the course of bitcoin's history, it has undergone rapid growth to become a significant store of value both on- and offline. From the mid-2010s, some businesses began accepting bitcoin in addition to traditional currencies.
BTCC is a cryptocurrency exchange established in June 2011. Originally known as BTC China, the exchange underwent significant restructuring after it was acquired by a Hong Kong–based blockchain investment fund in 2018, ceasing operations in China and expanding internationally.
Dogecoin is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a joke, making fun of the wild speculation in cryptocurrencies at the time. It is considered both the first "meme coin", and more specifically the first "dog coin". Despite its satirical nature, some consider it a legitimate investment prospect. Dogecoin features the face of Kabosu from the "doge" meme as its logo and namesake. It was introduced on December 6, 2013, and quickly developed its own online community, reaching a peak market capitalization of over US$85 billion on May 5, 2021. As of 2021, it is the sleeve sponsor of Watford Football Club.
Roger Keith Ver is an early investor in Bitcoin, Bitcoin-related startups and an early promoter of Bitcoin, and sometimes known as Bitcoin Jesus. He now primarily promotes Bitcoin Cash as Ver sees it as fulfilling the intended and original purpose of the "Bitcoin White Paper," first published in 2008 by Satoshi Nakamoto, in which Nakamoto referred to Bitcoin as a peer-to-peer electronic cash system.
HTX is a Seychelles-based cryptocurrency exchange. Founded in China as Huobi, the company now has offices in Hong Kong, South Korea, Japan and the United States. In August 2018 it became a publicly listed Hong Kong company.
BTC-e was a cryptocurrency trading platform primarily serving the Russian market, with servers located in the United States. The U.S. government seized their website and funds in 2017. It was founded in July 2011 by Alexander Vinnik and Aleksandr Bilyuchenko, and as of February 2015 handled around 3% of all Bitcoin exchange volume. The platform was eventually taken over by Russian Orthodox oligarch Konstantin Malofeev, and funds from BTC-e were used for the war in Donbass, under the control of the FSB.
An initial coin offering (ICO) or initial currency offering is a type of funding using cryptocurrencies. It is often a form of crowdfunding, although a private ICO which does not seek public investment is also possible. In an ICO, a quantity of cryptocurrency is sold in the form of "tokens" ("coins") to speculators or investors, in exchange for legal tender or other cryptocurrencies such as Bitcoin or Ether. The tokens are promoted as future functional units of currency if or when the ICO's funding goal is met and the project successfully launches.
Bitcoin Cash is a cryptocurrency that is a fork of bitcoin. Launched in 2017, Bitcoin Cash is considered an altcoin or spin-off of bitcoin. In November 2018, Bitcoin Cash further split into two separate cryptocurrencies: Bitcoin Cash (BCH) and Bitcoin Satoshi Vision (BSV).
Alexander Vinnik is a Russian computer expert. From 2011 to 2017, he worked at BTC-e, a Russian cryptocurrency exchange.
A cryptocurrency bubble is a phenomenon where the market increasingly considers the going price of cryptocurrency assets to be inflated against their hypothetical value. The history of cryptocurrency has been marked by several speculative bubbles.
Grayscale Investments is an American digital currency asset management company and subsidiary of Digital Currency Group founded in 2013 and based in Stamford, Connecticut.