An IP Address (Internet Protocol Address) is similar to a house address on the internet. It is a series of numbers assigned to a device on a computer network. A laptop on a Wi-Fi network in your house has an IP address, just like a smartphone connected to a cellular 3G/4G has one. An example of an IP address is 172.16.254.1
IP addresses can be used to determine where a connection or device came from. It uses the numbers to locate from which area a connection is made. Which is the reason why LiteBit has the security method of IP verification. IP Address Validation guide and information
Static vs Dynamic IP
A device like a PC can have a fixed or Static IP address: which doesn’t normally change. A Static IP is linked to a device when it is manufactured or first set up. Some Internet Providers or devices use a Dynamic IP address and occasionally change IP address, like when starting.
The same often happens with a smartphone on 3G/4G. As such it is for this kind of devices or connections sometimes necessary to Validate your IP addresses on LiteBit multiple times.
IPv4 vs IPv6
Addresses with the format 172.16.254.1 is an IPv4 Address: Internet Protocol version 4 addresses. IPv6 is being used more and more, however, these addresses look like:
Internet Protocol version 6 is the new standard for these kinds of addresses because IPv4 addresses are running out. For normal users this has no impact, it is mostly an issue for Internet providers and Web hosts.