Litecoin Inventor Charlie Lee Joins DMG Blockchain Advisory Board

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Canada-based platform DMG Blockchain Solutions on Tuesday welcomed Litecoin inventor Charlie Lee to its Advisory Board. DMG is focused on industrial scale crypto mine hosting – Mining-as-a-Service (MaaS), crypto mining, blockchain forensics/analytics, and blockchain platform development. In a statement released on Tuesday, DMG also announced that it will add Litecoin mining as part of its MaaS operations.

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“Next to bitcoin, our global Mining-as-a-Service (MaaS) customers are requesting Litecoin mining services. Thus, as we prepare to expand our unique MaaS offering beyond Bitcoin, we are fortunate to have Charlie Lee as an advisor,” said Dan Reitzik, CEO of DMG Blockchain Solutions, Inc. “As for Charlie, every employee in DMG Blockchain Solutions knows him by reputation, if not personally, and we are all excited to have his industry knowledge and his personal attention on DMG’s strategy and development going forward.”

In addition to inventing Litecoin, Lee is former director of engineering at Coinbase, and has became something of a celebrity in the cryptocurrency world, developing the Litecoin project just two years after Bitcoin first emerged. He graduated from MIT with a computer science degree and developed Litecoin while working at Google as a software engineer. He left Google in 2013 to become one of the first hires at Coinbase, and in 2017, Lee stepped down from his position at Coinbase to work full time on LTC as managing director of the Litecoin Foundation.

He graduated from MIT with a computer science degree and developed Litecoin while working at Google as a software engineer. He left Google in 2013 to become one of the first hires at Coinbase, and, in 2017, stepped down from his position at Coinbase to work full time on LTC as managing director of the Litecoin Foundation.

Litecoin’s hashing protocol uses a different algorithm from Bitcoin and was designed to reduce blockchain transaction time by almost 75 percent, which potentially makes Litecoin better suited for higher volume transaction applications like retail shopping and online payments.

“I am delighted to see DMG’s interest in supporting LTC,” said Lee, in a statement. “I’m looking forward to advising both DMG’s industrial mining and engineering teams as the company expands into the LTC ecosystem.”

 

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About David Bentley

David Bentley is an experienced financial writer and communicator specializing in offshore financial services, hedge funds and technology.

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