LTO Network : The Blockchain Platform For B2B Processes

The idea of blockchain still raises confusion in the corporate world. The misinformed outcry that cryptocurrency will completely replace the fiat currency of today has brought more enmity between major players in the financial world and the blockchain community. Most co-corporations, governments, and businesses rather fancy the other numerous features of the blockchain such as its efficacy in keeping record in a completely decentralized manner and its automation of processes via smart contracts but however application of this layer into business operation, Governments and other renowned parastatals has been negligible mostly due to lack of trust in the current state of blockchain technology or poor technical know-how. The few that even go ahead to implement blockchain technology opt for private blockchains instead. The simple fact is technologies such as blockchain take time to gain mass incorporation into all industry but success in less complicated sectors will help drive further implementation.
Workflow today is a common practice of most organizations. Workflow refers to a repeatable pattern that aids the actualization of a specific task on a regular basis. Organizations, governments, and businesses have implemented a workflow management system in house to boost efficiency, aid better responsiveness, promote transparency and increase profitability but nevertheless when carrying out inter-business/ department transactions the use of workflow which most times involve sharing of some sensitive data has often been "siloed up" due to lack of trust in business to business (B2B) transactions or inter-department transactions. Blockchain technology is notable for its provision of a trustless and decentralized environment, with effective deployment of decentralized workflow via blockchain, this can show the world that blockchain technology has a lot to offer for diverse sectors.
Introducing LTO Network

LTO Network is a platform notable for the creation of Workflow engine for enterprise client for over the last four years but in its bid to provide better services delved into the blockchain space so as to develop a remarkable decentralized workflow that will be able to prosperously cater for B2B transactions. With the implementation of blockchain technology, LTO Network boasts of a transparent, privacy and security oriented, decentralized and efficient environment for workflow which will improve B2B Corporation and inter-department processes greatly.
Core Features of LTO Network

1. Live contract: This is definitely an upgrade on the term smart contract common in the blockchain space and provides a more business-oriented structure that encompasses instructions on how two or more parties (businesses, corporation or department) should interact. Unlike the smart contracts, the live contract provides inter-organizational business process with off chain dispute resolution via an authorized party. Live contract help to automate and verify the actions of participants in a B2B or inter-organization process. Live contract is also powered with zero-knowledge proof to ensure the privacy of transacting parties and its also General Data Protection Regulation(GDPR) compliant
2. BLockchain support: The LTO network supports both a private blockchain and a global (public ) blockchain structure. Each process created on the platform goes to an ad-hoc miniature chain which is on the private blockchain and is only shared between the transacting parties While the global blockchain is responsible for anchoring and digital identities that are interoperable across the event chains, blockchain, and applications. The LTO network makes use of the Leased proof of important (LPoI) consensus algorithm which is similar to that of the NXT. This consensus allows every node see all transaction and swift addition of transaction to blocks in just a minute.
3. Microarchitecture: The LTO Network is designed in such a way that nodes on the platform can perform different services namely: UI layer which consists of applications that allow users to develop and debug live contracts, Application layer which is responsible for controlling events on the event chain, private chain layer for decoupling nodes and lastly public chain layer which is involved in indexing all hash since the global blockchain of the platform is designed for storing hashes.
4. LTO token economy: The platform started its seed offering via a wave-based token while a mainet LTO token was used for the private sale which guarantees users of the platform access to LTO network services and could be staked, used to pay transaction fees on the LTO network and fuels the LTO network blockchain. For the purpose of liquidity and the recently concluded crowdsale, an erc-20 token was issued. The erc-20 token is the tradable version of the LTO mainnet token and the platform is currently conducting swaps from the wave-based token to the mainnet LTO token while a bridge mechanism has been put in place so mainnet token can be easily converted to the erc-20 token which has easier integration on exchange. LTO token has a total supply less than 500 million units split between the mainnet blockchain and the erc20 token.
   

Conclusion
The LTO network proposes a very intricate way blockchain technology can be used to improve processes in B2B, inter organizations and different departments of government without creating room for several bureaucratic layers which often reduce efficiency and leave room for corrupt practices. With privacy and GDPR compliance in place, Decentralized workflow powered by blockchain will definitely catch the attention of the corporate world.
For more information on the LTO platform check out the following channels.
Website: https://lto.network
Telegram: https://t.me/joinchat/AJWQTUDKtDlsuGHVFb40eQ
Twitter: https://twitter.com/LTOnetwork
Authors detail
BTT name: Mrsparks
BTT profile link; https://bitcointalk.org/index.php?action=profile;u=1197564;sa=summary
LTO community reward username : Mrsparks