LTO Network (LTO)

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LTO Network (LTO) is a blockchain based platform primarily intended for businesses. Founded by Rick Schmitz and Arnold Daniels in 2014, the platform is a “hybrid blockchain built for businesses” that enables businesses to reliably build applications and leverage the strengths of blockchain technology. 

The network is something of a Blockchain-as-a-Service (BaaS) platform for businesses. Such platforms focus on making blockchain integration and end-to-end decentralized operations a reality for existing businesses - without requiring a heavy investment in manpower or funds. These platforms are especially for small and medium businesses, who lack the resources of larger companies.

The team emphasizes the various policies of the platform that make it ideal for business application. First, services are GDPR compliant. Second, it has a focus on accommodating existing systems - its Live Contracts contain both on and off-chain instructions.

LTO Network has two major products: Proof Engine and Workflow Engine. The former is easily integrated into IT infrastructure via an API and secures digital data against fraud, while the latter allows for the creation of tamper-proof, trustless and automated workflows through the aforementioned Live Contracts feature. Live Contracts are simply smart contracts that contain instructions for both humans and machines.

Being in development for quite a few years, LTO has already released its platform on the mainnet. Q1 and Q2 2019. The rest of 2019, and early 2020, will see the development of 5 major pillars of the LTO ecosystem: a marketplace, end user applications, research, funding and recruitment. Other major milestones include the release of a new LTO product, the Proof-of-Importance upgrade and technical documentation.

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