LTO Network - Q2 Recap, 2024
TABLE OF CONTENTS
1. Introduction
2. Q2 Operations
3. News & Events
4. New Team Members
5. Blogs
6. Technical Milestones
7. Closing Words
1. Introduction
During the second quarter of 2024, LTO Network solidified its position as a pioneer in blockchain solutions for Real World Assets (RWAs) through substantial developments, strategic partnerships, and progress across various key initiatives. Let's break down what exactly took place on and around our blockchain during those past few months.
2. Q2 Operations
What do operations entail?
Operations are essential data and records securely housed within our blockchain network. They are best described as grouped transactions that boost project efficiency and reduce costs. In Q2 2024, our clients carried out a total of 3,206,865 operations on the LTO Network blockchain, reflecting an increase of 168,763 operations compared to the previous quarter's 3,038,102.
3. News & Events
News
Partnership:
DWF Labs
LTO Network has announced a partnership with DWF Labs, a cutting-edge market maker and investment firm. This collaboration aims to integrate DWF Labs' advanced market-making solutions into LTO Network’s platform, significantly enhancing its capabilities.
More: https://blog.ltonetwork.com/lto-dwf/
Partnership Update:
Revealing more Information about our Partnership with Scantrust
The collaboration between LTO Network and Scantrust goes beyond merely preventing counterfeiting. It offers a blueprint for the future of how businesses manage and verify high-value items.
Explore further details about this partnership in our recent blog post & 𝕏 thread.
Blog Post: https://blog.ltonetwork.com/scantrust-tech/
𝕏 Thread: x.com/theltonetwork/status/1782803211101081727?s=46&t=psBtN2xtN0h2z8aPfa9blQ
Scantrust Node:
Our CEO, Rick Schmitz, engaged in discussions with the Scantrust team, and we are in the process of making their nodes publicly visible. As always, transparency is of paramount importance to us.
RWA-Focused AMA:
We conducted an AMA session in our Telegram channel focused on RWAs, with our CEO, Rick Schmitz. The discussion revolved around various topics, including new developments, progress, and our vision for the future of RWAs.
Below is a summary of the highlights and insights shared during this session. Reading is highly recommended as there might be information included you’ve never heard before.
Recap: https://blog.ltonetwork.com/rwa-focused-ama-recap/
Binance RWA Category:
LTO Network has been included in the RWA projects category on Binance.
We're actively developing the world’s most advanced RWA ecosystem on our blockchain network, and we're excited that the world is taking notice.
Exchanges News:
Bybit Exchange
Bybit has officially listed the $LTO/USDT Perpetual Contract.
MEXC Exchange
$LTO/USDT Futures trading is now available on MEXC Exchange.
Details: https://www.mexc.com/futures-activity/list-coins/245?time=2024/04/02&name=DEGEN
EVENTS
Blockchain Netherlands Foundation Event (BCNL)
On April 24th and 25th, our CEO, Rick Schmitz, attended the BCNL Foundation event held in London alongside prominent figures from the UK and Dutch Web3, blockchain, crypto, and digital assets realms. In line with our current focus, his discussion centered around RWAs on the LTO Network blockchain. The event gave us the opportunity to foster an insightful knowledge exchange and open up possible future collaborations among industry leaders.
Proof of Talk 2024
Pankuri, our new advisor, took center stage at Proof of Talk 2024 on June 11th at the Musée du Louvre in Paris, France. She discussed Real World Assets extensively and the future of decentralized ownership on the LTO Network. This was an awesome opportunity to expose our robust RWA technology to several industry leaders and the world.
Identity Week
Our latest front-end developer, Colin, participated in the Identity Week program alongside our partner, Blue Biometrics. Blue Biometrics is currently integrating our Proofi platform, and we are collaborating with them to deliver proof-of-humanity solutions aimed at combating bots in the Web3 space. This event provided an excellent opportunity to network with builders, developers and key stakeholders.
Blockchain Days
Pankhuri graced the main stage at the Dutch Blockchain Days event in Amsterdam on June 19th. She discussed the future of Real World Assets and decentralized ownership on the LTO Network blockchain. The event provided a fantastic opportunity to network with prominent figures and leaders in the blockchain industry.
4. New Team Members
Pankhuri - Advisor
Introducing Pankhuri, our latest advisor! With a distinguished career spanning high-tech roles at the UN and ISO, and as the founder of Blockom Consulting, she brings extensive experience to our team. Pankhuri's trajectory from JP Morgan's crypto division to becoming a celebrated global speaker highlights her leadership in the industry. We are excited to have her expertise steering us into the future.
Colin - Front-End Lead
We're excited to announce Colin as our new Front-End Lead. Colin has significantly accelerated our development efforts, leveraging his extensive experience in crafting web applications, including progressive web apps (PWAs). With the back-end development at LTO Network mostly finalized, Colin now directs his attention to user-centric products that perfectly align with our future vision. We eagerly anticipate the innovative direction he will lead us toward.
5. Blogs
How can LTO Network secure Real World Assets?
In this blog post, we explored how LTO Network's blockchain technology is revolutionizing asset management and security through secure and tamper-proof records for Real World Assets (RWAs).
Here: https://blog.ltonetwork.com/securing-rwas-blog/
6. Technical Milestones
Universal Wallet (iOS and Android App)
Our internal team's work on the Universal Wallet has now been handed over to our partner, Rocket Lab, who is responsible for developing the iOS and Android native versions.
We just received Rocket Lab’s latest wallet iteration, and extensive testing is underway.
Rocket Lab has successfully integrated our updates to the Software Development Kit (SDK) and main asset system into the Universal Wallet.
Key enhancements include improved management of Ownables within the wallet. Users can now sort, search, categorize, and filter their Ownables, as well as create custom categories or collections.
We are also progressing with the integration of the new bridge and generator.
The Ownables main asset system is now finalized, featuring updates such as a standardized thumbnail system, improved keyword functionality, and other critical features to ensure a consistent user experience.
The setup and testing of the Relay Server are complete. This server now facilitates sending Ownables between wallets, handling transaction fees, managing transfers, and notifying the receiving wallet. It also assists with importing Ownables into collections and will be used by the Ownables Generator to send completed Ownables to the issuer.
We are currently working on adding the Transfer, Generator, and Bridge modules to the iOS and Android wallets.
Additionally, Hacken has begun a security audit of the wallet.
We have submitted the wallet to the app stores for review, though it has not yet been made public. This allows us to address any feedback or requirements from the publishers.
Ownables
Our Ownables technology is now live on the LTO Network Mainnet, and we've been enhancing our SDK with exciting new features that will soon be available to you. The forthcoming iOS and Android wallet will offer the same capabilities as our SDK wallet, including the ability to send and receive Ownables (Transfer), create basic Ownables (Generator), and access the Ownables to NFT bridge (Bridge).
We encountered a minor issue with the Ownables Bridge. The original setup from the previous developers didn’t align with our vision of creating an open, user-friendly asset class on the LTO Network. As a result, we had to overhaul it. Fortunately, our current development team has made significant progress by redeveloping, reorganizing, and consolidating our smart contracts. They’ve streamlined the system, reducing it from five smart contracts to just one.
Following thorough testing, we will update the user experience (UX) to integrate seamlessly with the revamped bridge.
Land Registration Software
Our Land Registration Software is currently in active pilot testing with one country.
We're in the final stages of negotiations with a second country, and a third country has recently shown interest.
Proofi
Proofi is undergoing updates to replace outdated EVM modules with the latest versions compatible with the newest EVM testnet.
Proofi is presently being integrated into Blue Biometrics' Identi.blue products and will play a significant role in our RWA ecosystem.
Additionally, we plan to integrate Proofi into our mobile wallet for version 1.5.
New LTO Network Dashboard
Introducing our new LTO Network Dashboard!
Explore:
- Real-time data
- Interactive charts
- Detailed metrics & stats
Here: https://dashboard.lto.network
Development Update and Progress
- Ownables Wallet Integration - Completed.
- LTO RWAs Stage 1 - In progress.
- Proofi Biometric Integration - In progress.
- Land Registry Deployment - In progress.
7. Closing words
Looking forward, LTO Network remains steadfast in its commitment to innovation and excellence. As we continue to drive meaningful change across diverse sectors with our robust blockchain technology and strategic partnerships, we are excited about the future.
About LTO Network
LTO Network is a privacy-aware Layer-1 blockchain for Real World Assets, Data Security, and Identity Solutions.
Our platform is designed for business process efficiency and security. It combines a public layer for transparency and a private layer for data security, ensuring GDPR and MiCA compliance. This dual-layer approach makes it ideal for enterprises requiring data privacy and regulatory adherence.
LTO Network also offers tokenization of RWAs through their Ownables technology, enabling assets to be brought on-chain and allowing them to interact with the world of DeFi and Web3.
LTO Network's KYC services help maintain compliance with anti-money laundering laws and offer Proof-of-Humanity services to protect Web3 and DeFi platforms from bots.
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