Charlie Lee: The lack of rapid price increases is positive for the development of projects
The founder of Litecoin Charlie Lee is convinced that the lack of a fast-growing cryptocurrency market has a positive impact on the development of projects. It stems from the fact that people do not think about the race of prices, but try to focus their attention on the development of new products and their improvement.
“Recently, we have been actively working to add more options to the Litecoin protocol. In particular, we are talking about the problem of interchangeability. The possibility of introducing MimbleWimble technology through expansion units is also being examined, which will help to ensure the confidentiality of the transaction,” Lee points out.
The creator of Litecoin also noted that this time the market decline did not so much affect the mood of the community. During 2015-2016, people did not hope for any restoration: “It seems to me that we have not yet reached the critical level which was achieved last time, and I hope that we will not reach it. But at the same time, I would not be surprised if there will be another wave of sales, after which it will take much longer to recover. This may last for one more year, and maybe more. It is difficult to predict such things.”
At the same time, Lee is of the opinion that the spread of cryptocurrency is constrained by their volatility and user habits associated with the storage of funds.
Together with the spread of cryptocurrency, their volatility will decrease. This trend will contribute to their further widespread,” Lee points out. “Stories about the constant hacking of stock exchanges and theft of funds tell us that we must look for alternative ways of storing assets which are more convenient and easier to use.”
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