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June 30, 2022
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Cryptocurrency

LTO Network

LTO Network is a blockchain development aimed at automating a variety of business processes. Thanks to the technological solutions of the project, various companies can organize extremely convenient and mutually beneficial cooperation based on distributed registry technology.

The price of the LTO token has recently been recovering after it melted down along with the rest of the cryptocurrency market in April, losing 86% from its record high of $0.90 on April 7, 2021, but now the demand for cryptocurrency is growing rapidly. At the moment, slightly more than 183 out of 453 million LTO tokens are circulating on the market, which anyone can purchase with by lto wallet. The total market capitalization of the coin is equal to 19 million US dollars. 

Description of the LTO Network (LTO) Cryptocurrency

The LTO network is a blockchain designed to help businesses and organizations around the world interact transparently with each other. Thanks to the technological solutions of the project, various companies can organize extremely convenient and mutually beneficial cooperation based on distributed registry technology. With the help of LTO Network, the user can: 

  • conclude and fully control the transaction process;
  • exchange necessary information with partners;
  • create and control business supply chains;
  • transfer data processing into the hands of third parties without fear of fraud and falsification of certain documents.

Thus, users of the blockchain project get rid of the need to rely on trust, which is often excessive and costs too much.

By getting rid of a lot of inconvenient moments, business gets the opportunity to focus on more important things for itself: improving efficiency, transparency and security, which are often key to future development.

Features of Modern LTO Cryptocurrency

Here are the main features of this particular blockchain development:

  • availability of convenient live contracts;
  • implementation of a convenient hybrid blockchain mechanism with anchoring.

The technology of live contracts allows the parties to the contract to create agreements with certain conditions in real time, most of which are formed during the adoption of the previous clauses of the agreement. Thus, the parties can come to common decisions on participants in the workflow, the initial characteristics of this process, specific actions from the parties, special conditions for the fulfillment of certain conditions, and assets that will be used for financial transactions between the parties, and so on.

After creating a new “live contract” (live-contract), the LTO parent system creates a special private blockchain. The goal is to build common history of events and a common coordination of process states. In the course of fulfilling the necessary conditions of the agreement, one of the parties sends a response to the blockchain, and the second must sign it. After that, the node confirms that the event really happened.

Each new event inside the workflow turns into a block with one action and is confirmed by nodes. All data is available only to the participants of the process.

In general, the project attracts by the fact that it does not promise “golden mountains”, doesn’t conduct aggressive marketing, and acts calmly. LTO provides really working mechanisms that are needed by a specific category of users, and it copes with its task perfectly.

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