Charlie Lee

The increase in the number of cryptocurrencies affords the consumer a more extensive choice of coins. However, exchanging them when needed proves a tedious affair due to the different blockchain technologies.  Usually, the parties will have to find a third entity, such as a cryptocurrency exchange, to act as the transaction's trustee. Consequently, it could be expensive and time-consuming as not all cryptocurrency exchanges support all coins. Therefore, the only recourse is migration of accounts or sourcing for intermediary currencies.…

The creation of Defi is primarily focused on providing a platform that runs on blockchain and is independent of other external centralized institutions. Mainly Defi platforms are supposed to be completely decentralized, and they help complete serious tasks by leveraging smart contracts.  According to Charlie Lee, the creator of Litecoin (LTC), however, there is a high chance that centralized networks can be linked with a significant portion of Defi. Mr. Charlie suggested that it's vital for Defi to have a…