LTO Network is a project to create a network that will enable collaboration and workflow between multiple organizations using decentralized solutions. The platform is designed to automate agreements and laws, which helps reduce bureaucracy.
Hybrid blockchain LTO serves for document management between companies. Its public part acts as an independent notary, where not the documents themselves will be transferred, but only the hashes of their events. The private part of the blockchain is needed for automated work with documents within companies.
Features of LTO Network
LTO Network is a blockchain development aimed at automating a variety of business processes. Thanks to the project’s technological solutions, various companies can organize extremely convenient and mutually beneficial cooperation based on distributed ledger technology:
- Conclude and fully control the transaction process.
- Share the necessary information with partners.
- Create and control business supply chains.
- Transfer the processing of data into the hands of third parties without fear of fraud and falsification of certain documents.
Thus, users of a blockchain project get rid of the need to rely on trust, which is often redundant and too expensive.
LTO Network Token
To prevent the negative consequences of speculation with a “working token” that is used directly on the network, developers use a so-called bridge. The POA Network helps with this.
A bridge is a solution in which the coins of the main network are duplicated in the Ethereum blockchain in proportions of 1 to 1. At the same time, the mechanics resemble the scale, if from one network tokens have decreased, then in another network there are more of them.
ERC20 LTO tokens are traded on the Binance exchange, provide liquidity and serve as a bridge for customers looking to enjoy the benefits of the LTO Network. Mainnet Tokens circulate only internally and create a predictable economic model.
This approach also prevents early investors from dumping, as is usually the case. To do this, they need to swap native tokens on ERC-20, and the commission for the exchange between the ERC-20 token and the internal coin was initially set high (45-55%), but gradually decreasing – at the time of writing the review, the commission is already 28.5%.
History of creation and team of the LTO project
In 2014, following the success of the first company FIRM24, a company called LegalThings was created as a subsidiary. LegalThings has been developing software to significantly reduce the time spent on working with documents.
The team was faced with the issue of strengthening security, since in the event of a successful attack or error, customer data could be stolen. This would lead to a complete loss of trust and most likely the closure of the project. You could have increased the power and added more control, but then you would have to sacrifice the ease of working with the platform.
The team went the other way and decided to make full use of all the opportunities that blockchain provides to address the issue of security and decentralization of processes. This is how the blockchain project LegalThingsOne appeared, later renamed LTO Network.
LTO Network (LTO) cryptocurrency rate
According to lto coin news, LTO Network cryptocurrency is ranked 185 in the CoinMarketCap rating. The market cap is $ 34.5 million and the daily trading volume is $ 15.3 million.
If it continues to qualitatively develop the automation of business processes, reduce costs in the field to minimum indicators, and also meet all the requirements of regulators (as now), he will be able to claim a place in the first hundred of the best world top, and his coin will become one of the most acceptable blockchain assets for risk-free investments.