Charlie Lee left Coinbase to soley focus on the development of Litecoin. In his position as Director of Engineering, he led the development team to innovate and improve the wallet platform and digital currency exchange. The efforts allowed Coinbase to secure 7 million customers, which officially made Coinbase the second largest Bitcoin wallet platform behind Blockchain.
Resignation and focus Litecoin
One June 9, Lee officially announced his resignation as Director of Engineering. The statement mentions that he will soley focus on the development of Litecoin amid the recent developments of activation of SegWit and successful tests of the Lightning Network.
April 2017 already marked a shift into Litecoin as Lee began to convince major Litecoin miners to signal for SegWit. He explained SegWit being a valid scaling solution and being and excellent transaction malleability fix which establishes two-layer solutions like Lightning Network. The Litecoin Global Roundtable Resolution announced on April 21, marked the support towards activation of SegWit. Major miners included Bitmain (Antpool), BW.com, F2Pool and OKCoin.
The activation of SegWit marked a major milestone for both Litecoin and Bitcoin, as it demonstrated the possibility of activating SegWit to it’s communities.
Lee successfully brought the Litecoin community to consensus in regard to scaling, which hasn’t been done in Bitcoin yet. Following the activation of SegWit led by Lee, Blockstream infrastructure tech engineer Rusty Russell announced that the first Lightning payment on Litecoin from Zurich to San Francisco was settled.