What Is Ltonetwork?
Ltonetwork is a hybrid blockchain platform for decentralized workflows and business process automatization. Thanks to a solution based on live contracts, companies can enter into and carry out transactions, exchange information with each other, organize supply chains, delegate data processing and more, simultaneously and without relying on trust. The formerly known as LegalThings One, was established in May 2014 as a subsidiary of Firm24. For several years the main goal of the project has been to implement simple legal transactions on the Conceptually, it is based on the interaction between private and public blockchains.
Ltonetwork Coin provides the following kinds of assistance: the facilitation and control of the entire transaction process, the exchange of information between parties, the creation of business supply chains and the secure transfer of data to third parties. By removing the need to depend on the human factor in business transactions, LTO Network is expected to allow companies to focus on improving the efficiency, transparency and security of their business.
Ltonetwork Storage Key Points
|Circulating Supply||288,035,854.62 LTO|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
How to use LTO Network?
Protect important data through fast immutable timestamps.
Ltonetwork Coin Identify your business on-chain by publishing a public certificate.
Issue accreditations using the W3C DID and verifiable credentials standard.
Participate in trustless collaboration on a private network.
Ltonetwork registering standardization certificates happens in a system controlled by one agency. This system is often well protected, but a single source of truth makes them potentially vulnerable to security breaches.
Outside of NL
In some other jurisdictions, the protection of databases storing such sensitive standardization with industry best practices. Hence, multiple products or organizations can inadvertently or maliciously share standardization certificates.
Ltonetwork Coin blockchain technology itself is still a long way off from standardization as it is to be expected of a disruptive technology that is barely ten years old. A handful of them are fundamentally unique, but most of them are variants of the same idea.
Updates and changes to the certificates are automatically linked to QR codes, which are re-recorded (hashed) on the blockchain platform. This information corresponds to NeN’s Certificate Registration System.
Smart QR Codes
Using secure, uncopyable QR codes and blockchain technology, NeN is now powered with transparency into their supply chains and the ability to directly engage in meaningful, two-way conversations with their end-consumers.
Ltonetwork organizational certificates are now on various organizational systems, in inaccessible folders for some. In future white label environments, each organization will have its dashboard, with its data, to do their analysis on that data.
Advantages using LTO Network
The International Organization for Standardization (ISO), which develops and publishes International Standards says the first standards for Blockchain technology will be released in the next 18 months. LTO is actively involved in this group.
Ltonetwork Coin certificates are actually printed on badges and certificates that are used on the worksite. This means that the validity can be checked instantly by superiors and/or regulators.
Since certificates are managed in the BettyBlocks application, run by NeN-partners, smart, decentralized certificates can be revoked with the click of a button.
Staking on LTO Network
Ltonetwork public blockchain is PoS based – Fair Leased Proof of Stake. Anyone can become a validator on mainnet and share the deflationary network rewards, supporting the next wave of adoption! Set up your own node and start staking. Alternatively you can lease to a community node which shares network rewards.
Ltonetwork Coin allows two or more businesses to share and agree upon sequences of events. Event sharing is done peer-to-peer, without relying on an authoritative party. The limited number of parties involved present a challenge when dealing with conflicts. A majority, if it can be formed at all, can’t provide an unbiased decision. Rather than re-introducing authorization on the network, parties reach consensus by leveraging on the public proof-of-stake blockchain. Anchoring of the hash of private events happens on the public chain. Blocks of the public chain have a specific height, and transactions within a block are also ordered.