Bi-Weekly Update 05/11/2019

Jesse O’tega
Nov 5 · 3 min read

The launch of staking on the Lition Mainnet came with its fair share of growing pains which we are fervently working through. Our goal is to ensure a fully automated staking system that will offer stability and fast transaction processing to the Lition Network. The last fortnight also saw many different engagement events with the crypto and enterprise spaces.

In case you missed anything during the week, here are the latest updates from the community over the last two weeks!

Staking Update

We experienced some technical issues with the blockchain which has affected the blockchain explorer and the staking process. We sincerely apologize for any inconvenience this may have caused the community. Here are some key details to bear in mind;

  • The technical issues which we identified as the problems of the network are being resolved by the developers around the clock. We are unable to go into details now but we recently completed a promising 24-hour test phase that gave us better insight into what was went wrong. We are working on deploying a more capable and permanent fix as quickly as possible
  • Our code base is currently being updated and all validator nodes have been stopped so that we can deploy these solution and rigorously test before the blockchain is restarted. We will share a clear guide on how to update validator code as soon as it is completed.
  • All tokens staked in nodes or the LPS are currently safe and untouched. In order to compensate for the unforeseen downtime, we will continue to manually calculate the staking rewards that are due in this period and pay them out to all LPS and node participants once the network is back online.
  • We appreciate the community’s patience and confidence in us and will share more information as they become available to us. Technical issues in the early stages of any product are normal and expected and will only make us stronger from now on.

Lition partners with ANKR

In our ongoing efforts to expand the Lition ecosystem, we’re delighted to announce that we’ve teamed up with ANKR. Lition will supply clean, renewable energy for the Ankr Cloud infrastructure and nodes that will be hosted in Germany, reducing overhead costs and environmental impact. Both projects will collaborate to ensure legally-compliant and safe data processing through Lition sidechains. Lition will utilize the ANKR cloud platform to achieve cost-effective, environmentally friendly and geographically spread cloud hosting for our community to run mainnet nodes. Read full report here.

Token Swap Bridge Update

As promised to the community, we are pleased to announce that our token bridge has been updated to swap Binance chain-based BEP2 LIT tokens to Ethereum-based ERC20 LIT tokens. Minimum swap amount is 100 LIT and there is no swap fee. This move will further improve token mobility and interoperability among the different protocols of LIT tokens that exist today. The token swap bridge can be found at https://token-bridge.lition.io

Bithumb Global “UNLEASH” Meetup in Berlin station

On October 25th, Bithumb Global’s “UNLEASH” meetup was held in Berlin, Germany. Many prestigious guests were invited to attend and discuss the future of the cryptographic financial ecosystem. It was an opportunity for the Lition team to interact with a growing exchange and discuss topics with other top projecs with WOMProtocol, Madana and others.

To stay updated with Lition, please sign up to our newsletter on https://www.lition.io or join any of our community channels:

Lition Blockchain

Blockchain: The standard blockchain for enterprises and regulated markets

Jesse O’tega

Written by

Community Admin, Lition A.G.

Lition Blockchain

Blockchain: The standard blockchain for enterprises and regulated markets

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