What is LTO Network?

in #blockchainlast year (edited)

1_m9tkK_iQINQ9ehm1dQNBMA.png

LTO Network seeks the inclusion of many organizations and departments in their own systems, through decentralized workflows.LTO Network is a hybrid blockchain designed for trustless B2B collaboration.

The purpose of LTO Network is to provide a digital distributed bookkeeping system that serves business and requirements related to legally binding contracts. To this end, the project will build a decentralized workflow engine that will share information with private blocks, while operations will be recorded in the public blockchain.

lto0.JPG

The LTO Network wants to use the Least Proof of Work consensus to build a consensus on the blockchain. This consensus mechanism also allows small token owners who do not want to run a node to get token awards. The concept of the LTO Network is based on the interaction between private and public block chains.

Digitalization and automation of business processes offer great benefits in terms of productivity and cost reduction. However, organizations struggle to tap into these benefits for inter-organizational processes, partly due to a lack of trust. Bitcoin has proven how blockchain uses distribution and cryptography to provide a system that does not rely on trust. LTO Network builds upon this foundation taking a hybrid approach with its blockchain solution.

01.JPG

In September 2018, LTO Network published a technical white paper on economic white paper. In May 2018 a partnership with Waves was announced.LTO also has partnerships with POA Network, CPChain and NuCypher.

1.JPG

Rick Schmitz, co-founder and CEO of LTO Network, co-founded by LegalThings, a partner company for Dutch companies, Firm24 and a contract solution for the real estate market, has a successful history. Schmitz has already taken important steps in PwC and Deltoitte. CTO Sven Stam has a master's degree in artificial intelligence and has 15 years of industry experience. The other names of the organization are also very important and have achieved considerable successes in their careers.

for more details,https://lto.network/