What Is Lition (LIT)?

Lition (LIT) is a cryptocurrency that claims to develop the scalable public-private blockchain with deletable data features developed for commercial products. This protocol keeps data private, compliant with the EU (European Union) data protection policy guidelines, is infinitely scalable, fast, and low-priced.

Lition envisions bringing blockchain technology from its current hype-driven, speculative state with pilot projects into the commercial mainstream. The main objective is to be an easy-to-use and easy-to-develop infrastructure that meets the requirements of all businesses, from small to large companies and developers working on Dapp.

Blockchain development is co-innovated with SAP, a company with over 400 million users and more than ten thousand developers. This company develops the decentralized ledger and smart contract, whereas Lition aims to offer the open consensus layer. It also intends to run the public mainnet using Lition tokens issued in an ICO (Initial Coin Offering) for transaction execution, staking, and sidechain creation. As given in its whitepaper, Lition has also launched the P2P (peer-to-peer) energy trading Dapp that is commercially live in over twenty-five cities.

The native token of Lition is LIT, an ERC20 token built on Ethereum blockchain. As its whitepaper mentions, Lition utilizes a Proof-of-Stake Consensus mechanism. The infrastructure is a solution of choice for many disruptions across many industries like healthcare, pharmaceuticals, enterprise data management, logistics, automobile, travel, loan finance, and more.

History of Lition (LIT):

Dr. Richard Lohwasser (CEO and Co-founder) and Dr. Kyung-Hun Ha (COO and co-founder), and Yan Feng Chen (co-founder) are the core team members of the Lition Ecosystem. The total supply of LIT is 145 million. Its whitepaper was published on March 17, 2019.