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Lition: One Very Small Project Shows Big Opportunity

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Lition is an ethereum project, which almost no one knows exists. This project is already doing its part to help people in Germany to gain access to cheaper energy. Lition was launched earlier this year and is already a licensed energy supplier in Germany.

Some of the customers come from major cities such as Berlin and Munich. Lition is built on top of the ethereum blockchain and allows people to use its decentralized energy market. With Lition, customers have a direct contact with energy producers of all sizes.

The company states that currently, more than 700 households are using their platform to purchase cheaper energy. If we look at it from a wider perspective, Lition is trying to modernize the concept how global energy works the same as bitcoin tried to do to the financial system. The company believes that by getting rid of unnecessary middlemen, the clients will save a lot of money.

When we look at the traditional cases, we can see why the company wants to change how things work. The energy suppliers start by selling electric or solar energy to the intermediary. These intermediaries are often giant multinational corporations. The intermediaries afterwards are forced to buy the energy of their choice from the giant corporations.

According to Richard Lohwasser, the CEO of Lition these giant corporations have way too much influence. They also offer almost no diversification in the options for energy and people are forced to buy what they offer. This is why he wants Lition to take them out, entirely.

If the huge corporate lobbies aren’t successful in shutting down the project, it could have immense implications. People from all over the world would be able to be connected directly to the energy providers. The energy people purchase will be cheaper and will be of their choosing. If successful, customers will enjoy about a 20% decrease in their energy bills. Additionally, power plant revenues will be up by around 30%.

Lition has to think about the environment as well

Lition is also a modern company and looks out for the environment. Something, which we were forced to notice in the last decade, giant corporations do not even consider. The company has a strong emphasis on “green energy,” which is safer for the environment, but more expensive for the consumer. Lition will allow users to choose between 3 categories of energy: biomass, wind, solar. Additionally, customers will be able to choose their provider, but this choice is 90% the cheapest one.

Once customers are done with the request for their energy and provider, the can pay Lition in EUR. This is detected by a smart contract and the user receives the energy automatically.

Thanks to blockchain technology, the process of buying energy directly is incredibly simplified. Because of current licensing, customers willing to use Lition, must be located in Germany.

Of course it’s not all sunshine and rainbows as Lohwasser would want. He stated that while he’s very pleased with the amount of freedom the ethereum platform offers, but the speed of the responses is very, very bad. Additionally, the costs for using the platform are quite an obstacle in the way of the company.

They are always looking for something better, but it’s a well-known fact that all blockchains have their drawbacks and advantages. This is why Lition is teaming up with SAP, one of the world’s largest software companies. The goal is to build a unique, hybrid system, which will combine the best aspects of both public and private blockchains. Lition will handle the consensus layed, while SAP will be working on the smart contact layer.

Needless to say, this project will require funding. Lition believes that in order to build this unique public/private blockchain, they will need a lot of help. That’s why the blockchain will be designed for more than just energy uses and Lition will launch their own ICO as soon as possible.

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Source: https://www.coinstaker.com/lition-small-project-opportunity/

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Bitcoin Price Has Only Ever Spent 93 Days Above $11,500

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With Bitcoin’s price hovering around $11,500, recent data indicated that the asset had spent only about three months of its existence above that particular level.

BTC: Only Three Months Above $11.5K

The official launch of the first-ever cryptocurrency came in early January 2009. Born during the last massive financial crisis, Bitcoin was this “magical money” that actually lacked any significant attention in its initial years. Consequently, its price traded close to zero for a while.

Since then, however, Bitcoin started gaining traction that ultimately resulted in severe volatility throughout the years. The massive fluctuations took the asset towards an all-time high in December 2017 of nearly $20,000, and just a year later, BTC saw its price beneath $4,000.

Fast-forwarding two years and Bitcoin is currently positioned around $11,500. Although this level is nearly twice as less as the all-time high, recent data from the analytics company Skew informed that BTC hadn’t spent a lot of time above $11,500.

Historical Performance Bitcoin Price. Source: Skew
Historical Performance Bitcoin Price. Source: Skew

More precisely, BTC’s price has hovered above $11,500 for only 93 days (or three months) since January 2009.

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Fundamentals in Place

Apart from the data above, Bitcoin’s hash rate has experienced a significant boost even after the completion of the third halving in May. As CryptoPotato reported recently, the metric measuring the computing power miners use to validate transactions on the BTC blockchain reached a new all-time high of 170 exahashes per second. This represented a 40% increase in the five months following the halving.

Although the hash rate is not correlated with the price, another report suggested an upcoming price increase. By indicating that Bitcoin whales, meaning entities with at least 1,000 coins, have slowed down accumulation, Glassnode asserted that this could ultimately be a bullish sign for the asset price.

Historically, once whales have stopped buying massive quantities, this has led to an opportunity for retail investors. According to the analytics company, Bitcoin may be in the “beginning of a run-up to a market top.”

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Source: https://cryptopotato.com/bitcoin-price-has-only-ever-spent-93-days-above-11500/

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US Fed Chair Jerome Powell Says It’s Better to Be Right Than First on CBDC

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  • US Fed Chair Powell believes that the United States should focus on getting right the development of a central bank digital currency (CBDC), rather than attempt to be first.
  • While speaking on a panel hosted by the International Monetary Fund (IMF), Powell reassured that the US is “committed to carefully and thoughtfully evaluating the potential costs and benefits of a CBDC for the US economy and payments system.”
  • Although Powell admitted that the digital currency has the potential to improve the current payments system, he claimed that the Fed hadn’t made a final decision on launching its own.
  • Reports from earlier this year suggested that the Federal Reserve had started experimenting with a hypothetical digital currency.
  • Nevertheless, today’s speech showcased that the US central bank is still unconvinced by that idea. In contrast, the other global superpower China has been making serious improvements on the matter. 
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  • CryptoPotato reported earlier today that China had taken the CBDC tests to its citizens by airdropping $1.5 million worth of the digital yuan and urging them to buy goods. However, the initial results weren’t promising as users said it didn’t offer anything groundbreaking. 

Featured Image Courtesy Of CNBC

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Source: https://cryptopotato.com/us-fed-chair-jerome-powell-says-its-better-to-be-right-than-first-on-cbdc/

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Bitcoin Price Eyes $12,000 Following US Fed Chair Powell Talks

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  • Bitcoin’s price finally made a worthwhile move after surging to $11,840 on Bitstamp following days of stagnation.
btcusdh_chart
BTC/USD. Source: TradingView
  • The price has since retraced a bit to trade at its current level of around $11,780. Nevertheless, this is a move in the right direction as concerns started crippling up that we might be in for a fill of the CME gap down at $11,100.
  • Bitcoin is trading approximately only $700 away from the $12,500 area – the 2020 highest level that was reached on August 17. The next major resistance for BTC now lies at $12,000 – $12,100.
  • The move came soon after the Chairman of the US Federal Reserve, Jerome Powell, spoke on a panel hosted by the International Monetary Fund (IMF).
  • During the event, he said that the US is “committed to carefully and thoughtfully evaluating the potential costs and benefits of a CBDC (Centra Bank Digital Currency) for the US economy and payments system.”
  • He also said that it’s better to be right than be first on CBDCs.
  • Interestingly enough, BTC’s move appears to be uncorrelated to the US stock market. At the time of this writing, the S&P 500 is down about 0.4%, while the Dow Jones Industrial Average (DJI) is down about 0.3%.
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/bitcoin-price-eyes-12000-following-us-fed-chair-powell-talks/

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