1. What is litt?

Introduction to Cryptocurrency

Cryptocurrency is a type of digital currency based on cryptographic technology that uses distributed ledger technology (such as blockchain) to record transactions. Here are the basic features and related information about cryptocurrency:

1. Decentralization: Cryptocurrency is not controlled by any government or institution, and transaction records are maintained on a distributed blockchain.
2. Cryptographic Technology: It employs cryptographic algorithms to secure transactions and protect privacy.
3. Digitization: Cryptocurrency exists in a digital form and can be traded over the internet.
4. Anonymity: Cryptocurrency transactions can remain anonymous, and users do not need to provide personal information.
5. Global Reach: Cryptocurrency can be traded globally without geographical restrictions.

China's Regulation of Cryptocurrency

The Chinese government has very strict regulations regarding cryptocurrency. In September 2021, the People's Bank of China issued a notice prohibiting all services related to the settlement of virtual currencies and providing information to traders, including services offered by overseas virtual currency exchanges to residents within China. This means that conducting cryptocurrency transactions within China is illegal, and relevant institutions and individuals will be subject to investigation and punishment.

Risks of Cryptocurrency

Cryptocurrency comes with various risks, including market volatility risk, security risk, and legal risk. The prices of cryptocurrencies may fluctuate significantly, leading to investor losses. Additionally, cryptocurrency transactions may involve illegal activities such as fraud and money laundering.

In conclusion, cryptocurrency is a type of digital currency based on cryptographic technology that features decentralization, cryptographic technology, digitization, anonymity, and global reach. However, cryptocurrency also carries various risks, which investors need to approach with caution.

2. Who founded litt?

According to the available search results, it is unclear who founded the cryptocurrency LITT (LitLab Games). Relevant information can be found on the CoinMarketCap page, but there is no mention of the founder. If you need more information, it is advisable to visit the official website of LitLab Games or their related social media platforms directly.

3. Which venture capital firms invested in litt?

Based on the provided information, the following venture capital firms invested in cryptocurrency-related projects:

1. Lightspeed Venture Partners:

2. Led the Series B funding of Wintermute.

3. Led the first round of funding for Blockchain.com.

4. Pantera Capital:

5. Participated in the Series B funding of Wintermute.

6. Sino Global Capital:

7. Participated in the Series B funding of Wintermute.

8. Kenetic Capital:

9. Participated in the Series B funding of Wintermute.

10. Rockaway Blockchain Fund:

11. Participated in the Series B funding of Wintermute.

12. Hack VC:

13. Participated in the Series B funding of Wintermute.

14. Avon Ventures (an affiliate of FMR LLC):

15. Participated in the Series B funding of Wintermute.

16. SoftBank China:

17. Led the first round of funding for cryptocurrency market analytics company "BitEasy".

18. BlueRun Ventures:

19. Led the first round of funding for cryptocurrency market analytics company "BitEasy".

20. JRR Crypto:

    • Invested in the Series A funding of CoinDesk BKBT.

21. PwC Capital and Chen Wei Xing’s Pan-Chain Capital:

    • Jointly led the Series A funding of 8btc.

22. Soros Quantum Fund:

    • Led the Series A funding of Ethereum CryptoKitties.

23. ConsenSys Capital:

    • Participated in the Series A funding of Ethereum CryptoKitties.

24. DoubleRock Fund:

    • Participated in the Series A funding of Ethereum CryptoKitties.

25. Google's subsidiary fund:

    • Participated in the Series A funding of Ethereum CryptoKitties.

This information indicates that several venture capital institutions are actively involved in investing in cryptocurrency and blockchain-related projects.

4. How does litt operate?

Cryptocurrency, especially Bitcoin, operates through a special ledger system known as blockchain. Here are its basic operating principles:

1. Transaction Creation: Bitcoin owners create transactions by using a digital signature (with their private key), specifying the amount to be transferred and the recipient.

2. Transaction Verification: These transactions are broadcast to the Bitcoin network, awaiting verification. Miners on the network compete to group these transactions into a block and verify this block by finding a special rare number (proof of work).

3. Blockchain Update: Each block is added to the blockchain, becoming a permanent part of Bitcoin's history. The blockchain is a complete and immutable ledger of all transactions that is independently verified by thousands of full nodes.

4. Miner Rewards: Miners who successfully verify a block receive a certain number of new bitcoins as a reward (for example, 12.5 new bitcoins, though the exact amount may vary over time).

5. Decentralization: The Bitcoin network is decentralized, and anyone can run a full node to verify the blockchain, ensuring the security and transparency of the network.

In summary, cryptocurrency facilitates secure, transparent, and decentralized transaction processing through blockchain technology.