- Litecoin’s Charlie Lee isn’t optimistic on DeFi
- Litecoin’s biggest use case is as a store of value
- Litecoin’s interest-earning is very important
Litecoin news today – Litecoin’s Charlie Lee was recently asked about the most recent use cases for his crypto, Litecoin. That is what will make users continue using the asset to solve their problems. Lee had to speak about what he feels about Litecoin’s existing use cases. He was also required to talk about which use case he thinks is the most powerful. The LTC creator opined that the most relevant use case for the digital currency is as a store of value and speculation. He fells this status will remain for a while at least.
Litecoin (LTC) Price Today – LTC / USD
Litecoin is Aiming to Focus More on Payments
Lee said that the LTC network is aiming to move towards payments (which will be the goal of the project henceforth). This will ensure that users have the ability to spend the token as opposed to holding it as a store of value. The LTC creator said the network wants to establish the asset as a viable means of exchange. He stated that they were pushing towards that objective. He added that he is moving towards providing ATMs so that users can withdraw their Litecoin easily and cash out their digital assets. Lee also called on digital asset exchanges to support Litecoin. He agrees that liquidity was important to get LTC into people’s hands. And the goal is for the coin to be money. He is said:
“Where you can store your value, and also use it to acquire goods.”
Litecoin’s Interest-Earning is Very Important
Lee also remarked that interest-earning is essential for Litecoin holders. He added that with LTC it was important to gather funds and still have the ability to generate value from said funds. Lee expressed his opinion on DeFi. He spoke about the impact it could have on mainstream finance. According to him, this depends on what we consider DeFi to be. After this, he established that DeFi is everything decentralized; everything that uses smart contracts with no need to move to a centralized party. Lee also stated that it is extreme and not viable. The LTC creator added that there is a cost for decentralization. With cryptos being decentralized offerings, he concluded that we must all bear the cost. Lee said that if the offering is a cryptocurrency, then the cost is worth it. However, he was not this optimistic about DeFi. He said the complexity of smart contracts could lead to hacks and multiple exploits and when this happens, there will be rolling back.