LTO Network (LTO)
Blockchain technology is great for efficiency and cost-saving solutions. The team spotted limitations in the current way smart contracts were set up and therefore built a platform for optimized timestamping and efficient collaboration using Live Contracts.
LTO Network built a hybrid blockchain (combination of a public & private blockchain) that enables businesses to flexibly apply the tech to almost any use case one can think of. LTO Network has various working solutions, including fillthedoc (contract automation), proofi (free trusted digital transaction tool), LetsFlow (automization for developers).
LTO Network is a top-tier project that is in the top-25 blockchains worldwide, counts 40k+ daily transactions and has over 1.2M users.
I could go in-depth on their technology, but would rather focus on their current use cases. And, there actually are a lot of use-cases that can be looked into at: LTO Network – Overview of use cases
This review of LTO Network (LTO) was created for informational purposes. This article is not intended for promotion.
LTO Network built various great use cases for their token. LTO Network’s public blockchain is PoS based, anyone can become a validator and earn non-inflationary rewards for being one. The more LTO staked on a node, the higher it weighs on the network, the more transactions it validates and so the more rewards it earns.
Usually this is not for everyone, as that definitely comes at a price. But, LTO Network has resolved that issue by being the first project to enable token holders to stake their tokens in the mainnet wallet to existing nodes. This enables them to participate in the node of their choice and receive rewards based on their stake share.
This is all done within the mainnet wallet, enabling stakers to pause or remove their stake at any time & also enabling them to keep ownership of their LTO tokens at any time! This has heavily impacted the number of LTO that’s being staked in the ecosystem, and has made smaller token holders become much more engaged with the project and network.
The tech-savvy people or larger token holders can run the nodes, while the non-tech-savvy token holders can also participate. If this is something you’re interested in, then check out: Staking LTO and Leasing. Node guide.
Since I am from the Netherlands, we’ll use their partnership with the Dutch Ministry of Infrastructure as an example. LTO Network put waste transport on the blockchain enabling the ministry to reduce costs heavily, reduce the manual process handling and that all while being GDPR-compliant (which is a challenge when using blockchain technology).
Other partner examples are: IBM, Ankr, CMS, and more (LTO Network – Partners & clients)
I’ve gotten the opportunity to meet the team various times during the past two years. As an active community member and leaser, I’ve attended two of their community meetups, during which they share updates / progress / announcements, and more.
A time-line and team overview can be found at: LTO Network – About
Their team consists of experiences and professional members, with experience in all kinds of different fields. You’ll most likely hear most from Rick Schmitz (CEO), Martijn Broersma (COO) & Ivan Golovko (CMO) in the community channels.
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LTO Network was the first project in which token sale I participated since 2017. In the beginning I was a very active community member, actively participating in their social mining program to earn more rewards, and actively promoting the project in the Netherlands by writing guides, tutorials and posts about the project.
LTO is one of the few tokens I still hold in my long-term portfolio at the moment. And, I’m looking to increase my stake within the next couple of weeks. Their recent updates and developments have made it clear that they care about their token holders, creating a growing environment, all while not losing focus of what’s most important: their tech, use-cases and bringing in partners.
LTO Network hit the top-10 spot in terms of daily blockchain transactions. All transactions that are actually made by their on-boarded partners while using the network. I’m confident this growth will continue, and that the team will continue to onboard more partners.
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