Charlie Lee, former director of applied science at Coinbase crypto substitution and the creator of Litecoin (LTC) has expressed his intention to make the altcoin a global decentralized cryptocurrency in an interview with TenX fabricated Friday, April 27. He also claimed that that goal would crave him to eventually "pace away" from Litecoin as its leader.

In the interview, Lee suggested that Litecoin and Bitcoin (BTC) are "working shut together," claiming that the coins are mutually reinforcing each other and are used for unlike purposes. Lee stressed the decentralized nature of Bitcoin provided past its bearding creator equally its key feature, which is missed at Litecoin.

"Litecoin is more centralized because I'm effectually, then it has a more centralized development team, has more centralized foundation. I can steer litecoins towards my vision, and people will listen to me because I created it."

Answering the question of TenX crypto wallet co-founder Julian Hosp if Lee has ever considered moving away from his leading position, the Litecoin founder said that he actually "stepped away for a fiddling bit two years ago" when he focused on the development of a improve use of Bitcoin at Coinbase. Lee argued that a real decentralized coin should not take a leader who would command it.

"For a currency to really be … a worldwide decentralized currency, y'all tin't take ... a real leader who's trying to command things, so to make it more decentralized, eventually I would pace away."

The statement apparently contradicts what Lee said in December 2022, when he promised not to "quit" and to fully devote himself to Litecoin later he sold all his Litecoin holdings at the tiptop of the crypto market:

"Don't worry. I'm not quitting Litecoin. I will all the same spend all my time working on Litecoin. When Litecoin succeeds, I will nevertheless exist rewarded in lots of different ways, just non directly via ownership of coins."

Later, Lee reiterated his argument in an interview with Cointelegraph on Feb. 2, challenge he sold all litecoins because of "conflicts of interest" and not because he "didn't believe in the project."

Equally Lee acknowledged, the move was "definitely the first step" away, which he believes was a necessary measure eventually. "I think eventually I had to pace away," Lee stated.

LTC founder as well admitted that his decision to sell his litecoins "just [felt] similar it [was] not the correct," citing short-term negative impacts. Nonetheless, Lee all the same believes that he made "the right move, but in the long-term."

"I call up in the long run information technology was correct. The brusk term while the price is down like below the all-time high, it but feels like it'due south not the correct decision, but I think that moving forward like five years down the road, when prices back up (unclear) then it would exist feel like that would be right motion."

Founded by Lee in 2022, LTC hit its all time high of $375 on Dec. 19, 2022 and later dropped every bit low as $125 on Feb. 6, 2022, according to data from Coinmarketcap. Still i of the tiptop 10 cryptocurrencies by market cap, Litecoin is currently trading at $151.