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The LTO network is a business to business blockchain. It is the 15th most used blockchain worldwide and is being adopted by 60+ different businesses. It is a network used for decentralized workflow and business process automatization. Thanks to LTO's live contracts, companies can carry out transactions, exchange information with each other, organize their supply chains, delegate data processing and that in a decentralized way without relying on a third party.
LTO was founded in 2014, under the name LegalThings One. The main goal was always to implement simple legal transactions on a blockchain. By removing the need of a human factor in business transactions, LTO Network allows companies to focus on improving the efficiency, transparency, and security of their business.
How does LTO work?
LTO has live contracts, like Ethereum has smart contracts. Live contracts allow business partners to create and update agreements in real-time. When both sites come to an agreement and launch their live contract, the LTO network creates a special private layer just for this contract to record the history of events and the current state of the agreement.
When the contract is fulfilled, one party sends a response to the LTO network and the other party then signs it, both actions are automatically added to the private blockchain where neither party can change it. All data of the contract is only available to its parties. The advantage is that you don't share the data thru a third party service but thru a decentralized application there your data cannot be altered or spied at at from anyone.
Live contracts let their users register actions, add, and remove participants and record all actions and communication for the contract on the blockchain.
LTO is a hybrid blockchain, meaning its architecture separates data sharing from network consensus and builds a decentralized public layer as well as customizable private layers for their users. The public layer is where transactions and actions are being processed and the private layers is where all information about the live contracts are being stored. This is useful because it offers data protection while still offering the decentralization, scalability and security of a public blockchain.
A hybrid blockchain means private data, public consensus.
Any action on the network is completed within 2 seconds, making is very fast in comparison to most blockchains and it enables businesses to update their contracts with their partners almost instantly.
Usage and Partnerships
LTO is Europe's leading blockchain and the 15th most used blockchain worldwide with more than 100K transactions per day. That is despite being only the #341 cryptocurrency by market cap. Based on that many believe that is severely underpriced.
The network also has 60+ partnerships with companies and projects that are using it. New partnerships are announced frequently and so the adoption of the blockchain continues. Even governments like the Dutch and Belgian government use LTO to optimize their waste transport logistics.
There are many crypto projects that have barely any use cases but have a high value because people speculate that they will be used more in the future. LTO isn't one of them, it is already being used.
Dutch & Belgian Government - Waste Transport on Blockchain
The LTO Coin is the native cryptocurrency of the LTO network. It is used to pay for transactions and live contract executions. There is a maximum supply of 403.393.276 LTO coins. Since there is a limit to the supply, the price will rise if more companies use the network and the demand gets higher. There are already plenty of institutions that use the blockchain and the adoption of it progresses constantly.
Since the blockchain uses a proof-of-stake consensus, you can stake your LTO to gain interest. Everyone who holds 1000 coins or more can run their own node to keep the network running and earn staking rewards but alternatively, if you don't have 1000 coins or don't want to set up your own node, you can offer your coins on a staking pool to get rewards.
While LTO has its own blockchain, their coins also exist on Ethereum and Binance Chain. This is to allow better liquidity and make it possible to integrate LTO in various DeFi protocols in the future. When sending LTO coins from an exchange to a wallet you need to be careful to which blockchain the coins that you bought belong. You cannot send an Ethereum LTO directly to a Binance Chain LTO address. There is a bridge tool that allows you to swap the different kinds of LTO coins between each other.
The price of the LTO coins depends on how much the network is being used. As the #341 cryptocurrency by market cap it seems to still be relatively cheap and if the adoptions continue further it could be a very lucrative long-term investment. Already having so many partnerships could also help LTO survive a future crypto bear market should we enter one soon.
This article is accurate and true to the best of the author’s knowledge. Content is for informational or entertainment purposes only and does not substitute for personal counsel or professional advice in business, financial, legal, or technical matters.
© 2021 Krypton Currency