Consumer Power: The Blockchain in the current practice
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Martin Hubmann –
The Blockchain made in 2018 and a promising impression. The Bitcoin Boom and the subsequent Crash at the beginning of the year catapulted both crypto currencies and the Blockchain into the spotlight. And since then, much of the discussions in the areas of technology, Finance and innovation this theme. Influential media firms fell over themselves, all the editors for reporting on crypto-currencies, the majority of the Fortune 500 companies to integrate according to Reports, the Blockchain technology into their business models, and the US Congress has hearings, invited in an attempt to crypto-currencies in your core. If in 2017, as the year may apply, in the Bitcoin in the world in its spell hit, 2018 go down in the history books as the year in which the world attempted, with the technology of the phenomenon of Bitcoin.
Countless Start-ups have announced plans for almost every industry by Blockchain solutions completely. Chains, health care, agriculture, entertainment, journalism … the list is almost unmanageable. The dawn of a new Era, thanks to decentralization, security and digital trust. Morning! Tomorrow everything will be different … and even though you could save before the Initial Coin Offerings soon hardly more, can only have very few on Blockchain-based solutions to a practical product, and even less a wide range of users were able to build a base.
Lition, a Berlin-based Start-up from the energy trading area, is the exception.
Currently provides Lition households in 25 German cities, Peer-to-Peer services in the field of energy trading via the Blockchain. The benefits: users save money and also the growth and acceptance of renewable energy sources is promoted.
Lition dedicated originally to the goal consumers directly to producers of green electricity, to bring together, after the founder realized that the established energy companies that dominate the market and their Power to take advantage, conceding enormous premiums to renewable energies. Lition is using the Blockchain technology in the first place, in order to give consumers the opportunity to transfer their energy directly to producers of green electricity of your choice.
At the same time Lition uses, together with SAP its power of innovation, the first public-private Blockchain with data to develop deletion function with the aim to meet the current children’s diseases and limitations of the Ethereum network. The Lition technology is based currently on the Ethereum block Chain, until that 2019 will be replaced by Litions new Blockchain.
Lition pointed in an interview with Forbes about the technical aspects of the solution, especially on the importance of user-friendly applications, to the point and with maximum ease of use, without the user with superfluous functions to charge, the space and time of the user. An essential aspect in the development of a Blockchain was for Lition to the design of interfaces, the in every respect efficient and productive.
Repair of the Blockchain
The Blockchain-the project of Lition began, like so many others on the Ethereum platform, where the original energy trading system has been developed. It was soon clear, however, that the limitations of Ethereum, the scalability and the Lack of deletable Chains, the implementation of the Blockchain-dreams of Lition would stand in the way.
While countless Start-ups were waiting for Ethereum Proof-of-Stake protocols, in order to get the problems in the areas of scalability and energy consumption in the handle, decided to make the Lition developers to find a solution on their own. This was using the hour of birth of the Lition-Blockchain network, a viable Proof-of-Stake consensus mechanisms, a quick and efficient Blockchain network.
Lition has also involved private, erasable Sidechains in the network that protect the user data and the compliance with the statutory requirements (companies are obliged under the data protection act, to delete the user data when customers leave the network in the current Blockchain networks are not actionable claim). Lition has created on the basis of the brilliant idea of the Blockchain is a purpose-oriented solution, both as a Basis for your own project, as well as the next Generation of modern Blockchain technology.
A sustainable Blockchain-the future
The Blockchain is here to stay, and when to have smoothed out after the initial hustle and bustle of the waves, Blockchain leave solutions in the area of the grey theory and the step in the practice car. Lition is one of the few companies with proven technology, a concrete Vision and a portfolio of regular customers on a pioneering role. Lition don’t want to jump up on the Blockchain-train, but to drive the technology forward, to ensure a greener and more sustainable conditions on our planet – today and tomorrow.