What is LTO Network?
The LTO Network coin, or just LTO, is the official currency powering the LTO Network. The latter is a hybrid blockchain with a focus on B2B solutions.
LTO is the driving force behind the entire LTO Network. It plays a key role in securing the network through staking, while also serving as a reward for this process.
Additionally, LTO can be used as a medium of exchange - for instance, to cover transactions.
The LTO coin itself is based on the ERC-20 standard.
There is a max cap of 500,000,000 LTO. As there is a limited supply of LTO tokens, it’s possible that the LTO price will grow, given consistent demand and increasing scarcity.
LTO can be acquired via major exchanges, including both DEXs and CEXs. Check out our list of recommended exchanges for purchasing LTO in the section above.
It’s important to keep in mind that LTO is a cryptocurrency, and, like many other coins and tokens before it, LTO experiences periods of volatility. In other words, the LTO price tends to fluctuate.
In order to make an informed purchase decision, you should analyze the market. There are various tools to do this. The graph provided above is a good starting point, as it will allow you to have a more in-depth look at the LTO price and trends.
What are the Main Features of LTO Network?
LTO Network is considered to be a fork of WAVES. Since the initial fork, LTO Network has undergone major developments to become what it is today - a hybrid blockchain that consists of both public and private layers.
One of the core features of LTO Network is live contracts. To put it simply, live contracts are a type of agreement created in real time. Each live contract has its own private blockchain specifically for keeping a record of the event history. It can only be accessed by the parties involved in the agreement.
Multi-cipher support is another important aspect of the LTO Network. Multi-cipher refers to a blockchain network having more than one cryptographic signing algorithm, also known as a cipher. In the case of the LTO Network, there are two standards used by the blockchain, including ED25519 and ECDSA (SECP256R1 and SECP256K1).
In essence, these multiple ciphers enable users to sign with both Ethereum public keys and private keys directly on the LTO Network.
As discussed in the What is LTO Network section, LTO is the native coin of the entire LTO Network. The creators of the project highlight 4 types of users of the LTO coin:
- Integrators & Partners who secure the network by running nodes and staking LTO;
- Clients are active contributors to the LTO Network who make transactions and sometimes run nodes;
- Passive Stakers are a type of user who stakes their LTO to exclusively earn crypto rewards;
- Non-active holders refer to inactive LTO coin holders who don’t use the cryptocurrency at all meaning they don’t generate transactions. Their main goal is to hold LTO in hopes of winning big in the future.
Most importantly, LTO Network meets the requirements of GDPR (General Data Protection Regulation) in the European Union unlike many of its counterparts. Interestingly, LTO Network manages to achieve this by implementing its unique “privacy by design” model. You can read more about this on the LTO Network blog.
The most recent project of the team behind LTO Network is Ownables - a digital asset standard that proves ownership of pictures, videos, and music, among many others.
Who Developed LTO Network?
The LTO Network crypto project was launched in 2014 by FIRM24, however, at that time, it was under the name LegalThings One and was not based on blockchain technologies. This changed in 2017 when the project was rebranded into what we know today as LTO Network.
The founding team behind the project consists of the CEO, Rick Schmitz, CFO, Martjin Migchelsen, and Chief Architect, Arnold Daniels. The company itself is based in Amsterdam, Netherlands.
Rick Schmitz is a serial entrepreneur with a background in Tax Law. He co-founded Firm24, LegalThings, and, of course, LTO Network. Prior to this, Schmitz worked at Deloitte Amsterdam Tax and PwC.
Similarly, Martjin Migchelsen also worked at PwC. However, unlike Schmitz, he took on the role of a corporate finance consultant.
Arnold Daniels is a blockchain developer with around 5 years of experience. Prior to joining the blockchain space, Daniels was a web developer for almost 2 decades. LTO Network isn’t the first company co-founded by Arnold Daniels. He was also part of the founding team at Helder Hosting
LTO Network has partnered with Triall, LesA Casino, GoLandRegistry, MyCompanyWallet, NEN, SignRequest, and Proofi.
Before jumping into the project head first, please make sure to do proper research. A good starting point is to analyze the LTO price history on the graph above.
