https://i.redd.it/xo7gsaj5nf321.png
Click here to read the full review
Blockchain technology has spearheaded the evolution of many industries in recent years and while this is a natural step towards technological advancement, is has sometime been too aggressive, challenging the very foundation of traditional business. Due to this nature, LTO Network found an opportunity to develop a product that can easily integrate in most of the businesses, without disrupting the industries and scaring off potential investors from the traditional space.
LTO Network launches a Hybrid Blockchain for Decentralized Workflows that creates a GDPR compliant B2B blockchain infrastructure, which enables entities to collaborate on equal footing using trust less, automated processes through Live Contracts.
The main scope of the Live Contracts is to automate the process of how business players interact and exchange information, thus a traditional contract or process is split into parts that are comprehensible by both humans and machines, by employing Finite State Machines. Finite State Machines are models of computation that make it possible to visualise the Live Contracts as workflows.
LTO’s architecture is created to serve the logic behind Live Contracts, thus the node system is designed around four layers:
- UI Layer: This consists of UI applications that interacts with the application layer
- Application Layer: This contains all the services that handle actions triggered by events from the event chain
- Private Chain Layer: This takes care of the decoupling of the node. Through the permissionless private chain every decentralized workflow utilises a different miniature private chain. Events are anchored as Proof of Existence on the bottom permissionless public blockchain layer
- Public Chain Layer: This manages the public chain service, with a permissionless public blockchain based on Bitcoin NG that uses the novel Leased Proof of Importance staking to enable functional anchoring
✅ Review Rating ✅
Product | 80%
Use of Blockchain | 85%
Documentation | 85%
Business Model | 88%
Company & Team | 83%
Token Sale | 84%
Final Rating | 84%
LTO network has a very unique role in the blockchain industry, as there is still a missing spot in the regulatory compliance sector, especially with something as complex as the GDPR standard. Their approach is very disruptive as the demand for regulation on the crypto space grows, but it also manages to keep a low footprint on the traditional sector. This ensures a more inclusive way of introducing traditional players to the blockchain technology.
While their main use case is on the decentralized workflow system (which has many fields of application), their solution with the anchoring of partial data on the public chain has the potential to solve many problems that current networks face with privacy and compliance concerns.
We feel that LTO network has the potential to be a successful B2B platform, as they have experience in automating complex structures and workflows through the LegalThings Company. Considering that their MVP has around 70% of the code in production, we believe the team is competent enough to create a unitary product in the near future. Furthermore, they can take advantage of their established partnerships with international companies and institutions, as many of them are already testing the technology on various domains.
LTO has started off on the right foot, and if they manage to deliver a working product within a reasonable time, they will be able to retain a significant market share and quickly gain even more followers.
No comments:
Post a Comment