Business integration on Blockchain
Average rating : HIGH
Lition is developing the only scalable public-private blockchain with deletable data features, made for commercial products. Designed with Lition's live P2P trading use case, and co-innovated with SAP.
|Private-sale:||ENDED||ENDED||2,900,000 / 2,900,000 USD raised|
|Crowd-sale:||21st of March - ...||ENDED||2,000,000 /2,000,000 USD raised|
Raised: 4,900,000 of 4,900,000USD ( 100%)
|Ticker:||LITION||Available for token sale:||50|
|Token type:||ERC20||Private-sale/pre-sale token price:||/|
|Accepts:||ETH, BTC||Private-sale/pre-sale bonus:||no info/ no info|
|Prototype:||Yes||Pre-sale min/max personal cap:|
|Team:||27 persons||Crowd-sale token price:||0.1 USD|
|Team residence:||Liechtenstein||Crowd-sale min/max personal cap:|
|Company residence:||Liechtenstein||Cant participate:|
The team at Lition is developing a highly scalable next generation blockchain project that incorporates both public and private blockchains aimed at enterprises and various commercial entities. Lition enables the deletion of data stored on the blockchain and is tasked with allowing businesses to produce DLT based commercial products, and to move seamlessly from the Proof-of-Concept stage to creating legally compliant, blockchain based applications that are ready for mass-market adoption.
Lition aims to do this by making use of permissioned sidechains that can be altered as required, in addition to permissioned and permissionless nodes, with the project also incorporating a Layer 2 scaling solution to improve speed and efficiency. The team are working in conjunction with SAP, the world’s largest producer of business software, and the combination of a permissioned distributed storage engine from SAP and Lition’s permissionless consensus system provides businesses a high-throughput, low-latency private transaction solution with public validation for select records. Early on in their whitepaper, the team outline the following key features:
• A light client that can run on IoT devices.
• Low transaction costs, smart contract executions now cost $0.60 and are set to drop to $0.01.
• Fast block confirmation times of 1 to 3 seconds.
• Private Sidechains for private data.
• API interface for chain/backend communication for easy developer access.
• Data can be deleted from the blockchain
In order to be a leader in the provision of commercial blockchain services, the team plan to comply with GDPR (General Data Protection Rules) which is prevalent in the EU, and as a result, anyone will be able to store their private data with the knowledge that it can be deleted whenever necessary, while highly sensitive data can be stored on private sidechains and also remain safe from quantum-computers.see more
Lition is a project with big ambitions with a broad scope of application. The team want to bring blockchain technology into mainstream use, with a particular focus on enterprise.
The team appears capable, and emphasis should be placed on the collaboration with SAP. This relationship should open many doors for the team and project to make good progress quickly in Europe but especially in Germany.
The use-cases that the team have proposed seem valid, it’s just going to be about onboarding users and integrating with existing enterprise processes that could be difficult.see more
Overall we like the idea of the project and the suggested use-cases. Lition has already developed an MVP – P2P energy exchange and will launch more products soon.
The team is solid and experienced in terms of business administration and development. Co-innovative partnership with SAP will give Lition strong competitive advantage to already existed projects in the blockchain industry.
Tokenomics is very reasonable and will prevent the token price from the serious supply shocks (lock-ups and vesting for seed/private investors). Moreover, Lition has a buy-back option and reward system for token HOLDERS. The LITION token has an obvious utility and will be used inside the ecosystem to pay transaction fees, receive mining rewards, be staked by nodes and other sidechains.see more
|Midgard Research||8 out of 10|