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FAQ

Lition Blockchain

How many sidechains will exist in the Lition Network?
Potentially infinite; the more developers and companies are using our ecosystem, the more sidechains are created.
On which Blockchain is Lition’s layer 2 scaling solution being built?
Since Ethereum is being the currently strongest public Blockchain in our opinion, we decided to complement it by building our layer 2 scaling solution on top of it.
The Lition Energy Exchange is based on which Blockchain network?
The Lition Energy Exchange application is currently running on the Ethereum public Blockchain which is constrained by the above mentioned points. Therefore, once our Blockchain infrastructure mainnet is going to be live the Energy Exchange will be migrated upon it.  
What is your consensus algorithm?
Our concept is based on a Proof-of-Stake consens mechanism with two types of nodes; public nodes with access to the mainchain and public sidechains, and privileged nodes with access to private sidechains. For this a special permission by the sidechain owner and agreement to terms of service is necessary. A full overview is available on www.lition.io and especially the technical whitepaper.
What makes the private sidechain so secure?
Private sidechains can only be created by trusted privileged nodes pre-authorized by the sidechain owner. Except both parties no one else can access data on this very sidechain. They have to accept terms of service and vouch with staked tokens for lawful behavior. On request, privileged nodes delete date from private sidechains, i.e. when the customer's contract expired.
Why is Lition developing a layer 2 scaling infrastructure?
The Ethereum Blockchain is currently not providing all necessary features in regards of regulations and scalability. Our infrastructure is being needed in order to complement the Ethereum Blockchain by adding features such as scalability, private data handling as well as data deletability in aspect of certain regulations (e.g. GDPR).

Token

Does the LITION token comply with the ERC20 standard?
Yes, our LITION token will be ERC20 compliant.
How much will the token cost?
Our token will cost USD 0.10.
How secure is the storage of tokens?
Fully secure. The vast majority of the system's tokens are kept in cold storage, and we ensure the strict safety procedures. Account access in secured with two-factor verification which prevents unauthorized access.
What do I need tokens for?
Tokens are used to for creation of private sidechains, to pay for all transactions on the Lition infrastructure and for access to token staking rights.
Will there be a token swap, and if so, when?
Since we are building on top of Ethereum, there will not be a separate mainnet token.

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