Ethereum Energy Project Now Powers 700 Households in 10 Cities

A little-known ethereum project called Lition is quietly helping real German citizens find cheaper energy.

Launched earlier this year, Lition is already a licensed energy supplier in Germany with clients in 12 major cities who are now using its decentralized energy market.

Built on top of the ethereum blockchain, the Lition market connects consumers directly with energy producers big and small.

In total, more than 700 households across Germany are now using the decentralized platform to buy their energy, according to the company.

In short, Lition is trying to change how global energy works with a concept very familiar to blockchain enthusiasts: "Bypassing unnecessary middlemen," saving its users money on energy.

In the case of the households, an energy supplier sells the solar or electric energy to an intermediary, often a giant, multinational company.

"Usually buying directly from producers is limited to energy suppliers that are big corporations. We're bringing the exchange to the consumer, so consumers can pay for the energy they want."

Behind the scenes, an ethereum smart contract detects this payment and automatically sends the customer their energy.

"Lition's. blockchain technology simplifies the process of buying energy directly from green producers of any scale by employing transparent smart contracts that allow consumers to circumvent all of the complexity of energy distribution brokers," the Lition website explains.

"It's very slow. It takes 20 to 30 seconds to tell a customer whether they can buy energy or not," he said, adding that as a company that's trying to promote renewable energy, they began to feel uneasy about using a system that relies on mining, which is a rather energy-sucking process.