How to protect yourself and your accounts from Cybercrime
March 16, 2021
Customers of LiteBit enjoy a state-of-the-art security when it comes down to their accounts and their cryptocurrencies trusted with our service. However, there are specific steps that we cannot take on behalf of our customers and they are responsible to act according to security best practices. Responsibility requires awareness and knowledge; with this article we like to empower you to understand how to protect yourself and why this is so important.
What are altcoins?
February 22, 2021
There is Bitcoin and then there are altcoins. Sounds very simple, while it really isn’t. In this article we are going to dig a little bit deeper when it comes down to cryptocurrencies and why they are called altcoins and what defines them. The very first crypto was Bitcoin and its blockchain was started in January 2009. It introduced the idea of an electronic cash system that works globally, is decentralized and is permission less. Bitcoin was built with a certain vision and technical specifications in mind in order to enable the network to become the strongest and most resilient currency the world has seen. While many developers shared that vision, they had a different concept what the architecture of a crypto should look like. And this is where our journey starts.
How did Dogecoin become so successful?
February 1, 2021
Dogecoin is one of the oldest cryptocurrencies on the market. It started in the year 2013 and has enjoyed much attention ever since. One remarkable event was the sponsoring of the Jamaican bobsled team in 2014. Most recently DOGE has seen a drastic increase in price and many people wonder why and how did this happen?
How smart contracts are revolutionizing our society
January 26, 2021
Our modern society knows contracts in different forms. If you buy a chewing gum at a kiosk, you have already entered into a contract with the merchant. The superficial aspect is the exchange of the money for the goods, but from the perspective of the law, there are a lot of factors at play that we don't even consider in such everyday actions. Our example illustrates the importance of contracts on both a small and a large scale. And that is why today's article is of particular importance, because we are dealing with contracts whose content and validity are guaranteed by blockchain technology.
Where can I ask my questions?
January 4, 2021
We want to help all of our customers the best we can, and we work hard to truly make this happen. Because of the many questions, you may have to wait longer for an answer.
Bitcoin Halving - How BTC is becoming increasingly scarce
December 29, 2020
With Bitcoin, it is mathematics that ensure that it can never exceed 21 million BTC. This is an absolute result and this is very closely related to a cyclical event that recurs regularly. What is meant here is the so-called Bitcoin halving. In this article, we want to go on a bit of a quest and explain why this event is so elementarily important and why it is playing such an important role.
Bitcoin mining - How the digital gold is mined
December 21, 2020
Bitcoin mining is a technically necessary and sometimes controversial process. It has ensured since the beginning of the Bitcoin blockchain that no one is able to forge past transactions, manipulate the money supply or prevent current transactions. However, the idea behind it takes into account not only technological aspects, but also those of game theory. In this article, we want to look at the origins of mining, and in addition to how it works and how it came to be, we also want to look at the social implications.