The price of LTO Network has fallen by 0 in the past 7 days. The price declined by 0 in the last 24 hours. The current price is €0.173 per LTO. LTO Network is ∞% below the all time high of €0.00.
The current circulating supply is 427,259,338.3 LTO.
What is LTO Network (LTO)?
LTO Network is a hybrid blockchain platform, which includes both a public and a private layer. It primarily focuses on the ownership of digital and real-world assets. The public layer of LTO Network operates on a proof-of-stake system and is permissionless, meaning that it's open for anyone to participate without needing special permissions. The unique aspect of LTO Network is its approach to handling statements on the blockchain: rather than relying on smart contracts, it allows any statement to be published as long as the fee is paid, placing the responsibility of validation on the end-user or application. This approach makes LTO Network particularly suited for tracking real-world scenarios and off-chain assets, differentiating it from many other blockchains.
LTO Network was initially developed by Firm24 under the name LegalThings One in 2014. The project evolved to incorporate blockchain technology in 2017, leading to its rebranding as LTO Network. The founders of LTO Network are Rick Schmitz, the CEO, who has a background in private equity and mergers & acquisitions; Martijn Migchelsen, the CFO and COO with experience in corporate finance; Arnold Daniels, co-founder and lead architect with extensive experience in open-source development; and Sven Stam, the CTO with a master's degree in artificial intelligence.
The network has formed several significant commercial partnerships and collaborations. These include working with IBM Watson to streamline small criminal cases for the Dutch Ministries, contributing to the International Organization for Standardization (ISO) for developing blockchain technology standards, and collaborating with the Dutch Ministry of ILT on waste transportation processes. LTO Network is also a member of the International Association of Trusted Blockchain Applications (INATBA), sharing knowledge and technical expertise to promote blockchain adoption. These partnerships emphasize LTO Network's commitment to applying blockchain technology in diverse real-world applications, ranging from legal and compliance solutions to enhancing the security of IoT data.
How does LTO Network (LTO) work?
LTO Network’s structure consists of a decentralized graph, where points (accounts) are connected with edges created through associations. This network structure is key to its functionality, allowing for various kinds of statements to be made and considered. The private layer of the network isn’t a blockchain in the traditional sense but consists of individual micro-ledgers called event chains, which are shared between accounts. This setup allows for efficient data sharing and process automation while maintaining privacy, especially important for personal and sensitive information. The public blockchain verifies the authenticity of the data stored in the private layer, ensuring security and compliance with regulations like GDPR.
What makes LTO Network (LTO) unique?
LTO Network’s uniqueness lies in its hybrid structure, combining public and private layers to provide a versatile and secure blockchain solution. This structure enables easy collaboration and data exchange, along with process automation in the private layer, while maintaining the high-level security of a public blockchain. It’s particularly noteworthy for its approach to handling real-world asset tracking and off-chain assets. This innovative approach aligns with real-world scenarios more closely than traditional smart contract-based blockchains, offering more natural integration with various decentralized technologies. Additionally, its focus on GDPR compliance makes it an attractive choice for businesses and developers looking to build Privacy Aware Decentralized Apps (PADA).
The LTO token: Utility & tokenomics
The LTO token serves multiple purposes within the LTO Network ecosystem. It is used for gas fees for various transactions, including data anchoring and token transfers. Additionally, it functions as a staking token in the network’s Leased-Proof-of-Stake model and as a governance token for on-chain voting. The token was initially distributed through a private sale and a public sale, with the team holding a secure vault for their tokens, requiring executive approval for usage. The LTO token also has potential future applications, such as being a fundraising vehicle for startups within the LTO Network ecosystem. As of January 2024, the circulating supply of LTO tokens was around 424,244,732, with a maximum supply of 500,000,000 LTO.
How to buy LTO Network (LTO)?
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