Litecoin News: Charlie Lee Talks Blockchain Inefficiencies at Consensus 2018

Blockchain

Litecoin News: Litecoin (LTC) creator Charlie Lee sat down with CoinDesk at Consensus 2018 to talk CryptoKitties, blockchain inefficiencies, and money.

Litecoin News: The Problem with Blockchain is…

“Blockchains are inefficient by definition,” Lee stated. He explained that a decentralized system requires the replication of data, meaning that a whole bunch of computers have to keep track of all the data, rather than just one computer keeping track of it all. It requires a lot of extra work to keep things decentralized and this makes the decentralized systems less efficient when compared to a centralized system. …

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