Berlin, Germany, Feb. 21, 2019 (GLOBE NEWSWIRE) -- Blockchain startup Lition, an innovation partner of SAP, is launching its Testnet on February 21 at the SAP Data Space in Berlin, to publicly demonstrate the technical capabilities of the Lition blockchain. Watch the livestream here (12:30 PM EST).
Lition is the first and only blockchain network offering openness, privacy and deletability, which is accomplished by connecting an immutable public mainchain with permissioned, deletable sidechains. The Testnet will ensure all blockchain functions work as intended using test tokens before Lition conducts its Initial Coin Offering on March 18 and launches its mainnet in Q3 / 2019.
After the Testnet is online, Lition will migrate its commercially live P2P energy exchange onto the infrastructure. During the testing period, developers will put the network through a trial by fire, allowing any bugs to be identified and providing a proof of concept for all promised functionalities, like deletability and scalability.
Lition has also been working closely with German lawmakers to help shape new blockchain-centric legislation and deployment strategies. These efforts ensure the Lition platform is GDPR compliant, and able to provide user data protection while maintaining an uncompromised blockchain network. The EU enforces strict data deletion mandates and has thus rendered many of the current networks illegal within its jurisdiction.
Dr. Richard Lohwasser, Lition’s CEO and Co-Founder, “deletability is the missing element of the enterprise blockchain networks. Our GDPR compliant blockchain allows enterprise use and mass-market adoption by bringing together ‘privacy’ and ‘immutability’ in the most technically sound way!”
About Lition Technology AG - Lition is a blockchain infrastructure and dApp developer, with 20 employees mostly based in Berlin. Lition’s new blockchain infrastructure addresses key commercial and business issues that have prevented blockchain networks from reaching widespread mainstream adoption so far. With scalable public-private blockchain and ‘deletable’ data features, the Lition network allows businesses and large enterprises to bring innovative blockchain applications to the mass-market that are legally compliant. Lition has also developed and launched the world’s first commercially live P2P energy trading platform, currently serving customers in 29 cities across Germany.