Coinmetro Partner’s Blog: LTO Network
Giving You Access to Award-Winning Blockchain Products
In our effort to bring you the best of crypto products and blockchain services, we partnered with LTO Network at the beginning of this year. Therefore, as a Coinmetro user, you have gained access to an award-winning hybrid blockchain focusing on B2B, identities, media, and ownership dApps. LTO Network has worked with the likes of IBM, the United Nations (UN) and the Government of the Netherlands for providing secure decentralized ledger technology. On the new Coinmetro exchange, the ERC20 LTO token is within reach, with both LTO/EUR and LTO/USD pairs. Let’s walk through why this partnership is important for both us and LTO, as well as you as a Coinmetro user.
The Hybrid Architecture of LTO Network
What makes LTO unique is the fact that it is a hybrid chain with both public and private layers. While the transparency of public data is at the core of blockchain technology, you might need for some data to stay private. A hybrid chain allows some information to be shared privately while still relying on public consensus to ensure integrity.
The public layer verifies and logs data so that it is visible to the public. At the same time, blockchain applications can access the private layer and pass information to make privacy-aware applications where personal data is shielded from the outside world. The network can be successfully used to secure, exchange and verify critical data, digital assets and identities.
High-Quality Identity Data with Proofi
In May 2022, LTO Network partnered with Chainlink and introduced Proofi, a solution for making its identity data available to the multi-chain DeFi ecosystem. The industry-leading blockchain middleware solution now makes identity attestations on the LTO Network available to the broader blockchain ecosystem. Protocols and private companies can now easily onboard new clients by enabling seamless identity KYC/AML verification for DeFi users. This is key for all DeFi projects to remain compliant with government regulations without having to store user data on their centralized servers themselves.
In Chainlink, Proofi is leveraging the largest oracle network in the blockchain industry, enabling LTO Network to reach the widest possible range of developers in the smart contract ecosystem.
Next-Generation Digital Ownership with Titanium
At the beginning of this year, LTO Network launched the litepaper for Titanium – a solution for truly decentralized digital collectibles. Today, LTO Network is excited to announce that the Titanium mainnet upgrade, in which Ownables are included, went to testnet last week. What is this all about?
NFTs are a step in the right direction to manage ownership in a decentralized way. But the issue with existing NFT technology is that you are not actually holding any assets, like images, video, or audio. They live on someone else’s centralized server. Titanium solves this problem, by allowing you to issue truly decentralized NFTs – aka NFT2.0.
With Ownables, assets that belong to an NFT are in your possession. You manage them in your wallet (on your phone or laptop), maintaining full control. You can easily trade your assets with other users directly, without having to use third parties.
The possibilities are infinite. Anything can be turned into an NFT. Whether it’s your art, your car, or your house… your assets can also become part of the Metaverse. Using Ownables in the open Metaverse, you will have the power to create something in one world, and bring it with you to the next. This is key for the Metaverse economy.
Naturally, you will probably want the ability to trade your NFTs on platforms like OpenSea and Rarible. To allow this, Ownables will be available cross-chain using the partnership with Chainlink and its world-class technologies.
If you are a content creator such as an artist, musician, game developer (and more), with Ownables, Titanium will empower you to develop, build and expand your own world further beyond.
Decentralized Identifiers & Verifiable Credentials
Innovation carries on across the board with the DID (Decentralized Identifiers) and VC (Verifiable Credentials).
The DID is a new standard of representing users’ identities by referencing subjects in a decentralized way. It is an identifier that references a subject such as:
- A person
- An organization
- An object
The use cases for DIDs include:
- Identifying people, organizations, and things
- Achieving a number of security and privacy-protecting guarantees
DIDs are unique identifiers that specify a resolution method for a DID and a blockchain address that represents its owner.
On the other hand, VC (Verifiable Credentials) heavily utilize DIDs to identify people, organizations, and things and to achieve a number of security and privacy-protecting guarantees. They are issued as cryptographically signed documents, intended to be understood by computers rather than people.
What this truly means is unification with a real-world identity. DID and VC allow you to verify the identities of persons or objects, digital certificates, ID, diplomas, and many more. By doing this, it also impacts the value of these assets.
LTO Staking on Coinmetro Exchange
As the Coinmetro community already knows, we will soon have more assets included in our MARs (Multi-Asset Rewards) passive income plan. The next asset will be none other than the LTO token. You will have the opportunity not only to hold this crypto asset but also to diversify your portfolio and start earning exponential rewards from one of the industry’s prime staking plans. The release is scheduled for the coming weeks – stay close so you can hop in as soon as the MARs program expands once again.
Visit LTO Network to catch up on more good news from our partners. Hang around on our Discord and Telegram channels to chat, have fun and learn something new every day. Sign-up today, or head to our new exchange if you are already a user, to experience a premium trading platform.