LTO Network - Q3 Recap, 2024
TABLE OF CONTENTS
1. Introduction
2. Q3 Operations
3. News & Events
4. New Team Members
5. Blogs & Explainer Threads
6. Technical Milestones
7. Closing Words
1. Introduction
In the third quarter of 2024, LTO Network reached key milestones and made notable progress across various areas. We have expanded our team with new members, enhancing our capabilities, we have also been attending several real-life conferences across the globe. Progress is moving forward nicely on the technical side, supported by substantial developments. Let’s delve into the key activities and initiatives that have taken place over the past three months.
2. Q3 Operations
What do operations consist of?
Operations are important pieces of information and records that are safely stored in our blockchain network. You can think of them as grouped transactions that help projects run more smoothly and save money. In the third quarter of 2024, our clients completed a total of 3,500,923 operations on the LTO Network blockchain. This number represents an increase of 294,058 (9.17%) operations compared to the previous quarter, which had 3,206,865 operations. This growth shows how actively our clients are using the network to enhance their efficiency.
3. News & Events
NEWS
Hacken Partnership
As we gear up for the launch of the LTO Network wallet, we’ve kicked off an important security audit to make sure our protocol stays safe and dependable. We’re excited to partner with Hacken to test and fortify everything thoroughly to guarantee top-notch security.
IQ Wiki Partnership
We’re thrilled to harness the power of AI to elevate the visibility of our technologies and our new RWA structure! With the integration of IQ GPT, LTO community members can now get quick and accurate answers to their questions through their chatbot, which has been integrated into the LTO Network community. Get ready for a smarter and more connected experience!
More: https://iq.wiki/wiki/lto-network/
Article Feature on Tokenization
Check out this fantastic article in one of India’s leading publications, spotlighting tokenization and highlighting how LTO is poised to lead the charge in the RWA space! The potential of tokenization is capturing attention as a game-changing solution for accessing RWAs. Exciting times ahead!
EVENTS
TUM Blockchain Conference
Pankhuri, one of our advisors, recently took the stage on a panel discussing The convergence of Web3 and AI: Transforming Technology and Society.
The role of AI in RWA tokenization is just getting started, and LTO is ready to dive into the emerging opportunities that lie ahead!
Visit to Bybit Office
Our COO, Shawn Naderi, paid a visit to the Bybit headquarters in Dubai, where he discussed all things LTO Network and the plans ahead! It was a fantastic opportunity to share insights and connect.
RWA Paris Summit 2025
LTO Network CEO Rick Schmitz is set to light up the stage at the RWA Paris Summit on February 13th and 14th, 2025, at the magnificent Grande Halle de la Villette! He is going to be presenting insightful discussions and connecting with several projects.
LTO Network Podcast
Join Rick Schmitz and Pankhuri as they dive into how LTO Network is transforming traditionally illiquid Real World Assets into liquid opportunities! Discover how our innovative hybrid blockchain bridges the gap between real-world assets and the cryptocurrency universe, simplifying the management and trading of RWAs through our cutting-edge blockchain technology.
Podcast: https://www.youtube.com/watch?si=rdC8tIwfri8V0HGK&v=g_eJVrZxkOQ&feature=youtu.be
4. New Team Members
Lead Developer
We’re thrilled to introduce Sven, our new head of technology and lead developer! With a wealth of experience as a senior developer and technology architect, Sven is set to spearhead the delivery of our EQTY RWA platform and chart the future of the LTO Network blockchain. He’s presently busy crafting incredible tools for our Universal Wallet, Ownables, and EQTY technologies—cutting-edge innovations are on the horizon!
Business Development Lead
We’re delighted to welcome a new powerhouse to our team—a talented Business Developer! He’s a real go-getter, and we can’t wait to see how he’ll help us expand our partnerships and drive growth.
5. Blogs & Explainer Threads
Blogs
OWNABLES: The Perfect Extension of Non-Fungible Tokens (NFTs)
NFTs have been waiting for a fresh wave of capabilities—and that’s about to change with OWNABLES! They are the perfect extension of NFTs, introducing enhanced privacy, royalties, and effortless management of Real World Assets. Get ready to unlock a whole new world of possibilities!
More: https://blog.ltonetwork.com/ownables_extend_nfts/
Unleashing the power of Ownables
LTO Network is revolutionizing Real-World Assets (RWAs) by transforming them into secure, tamper-proof digital tokens! From real estate to luxury items, discover how every asset can become an Ownable, unlocking new possibilities in the digital realm. Dive in and see the future of ownership!
More: https://blog.ltonetwork.com/unleashing-ownables/
Revolutionizing asset security
Ownables and LTO Network's cutting-edge blockchain technology are revolutionizing industries by enhancing security and making assets tamper-proof. The future of asset management is here—get ready to experience a new era of reliability and innovation!
More: https://blog.ltonetwork.com/unleashing-ownables/
VISION
LTO’s Vision for the Future!
In a pivotal moment with Rick Schmitz, LTO Network’s COO, Shawn Naderi recognized the incredible potential to tokenize everything! With the RWA Litepaper and Universal Wallet on the verge of launch, LTO is poised to take the lead into this transformative new era. Get ready for what's next!
More: https://blog.ltonetwork.com/vision/
Explainer Thread
Simplifying RWAs on the LTO Network
OWNABLES: Securely hold your Real World Assets.
Proofi: Effortlessly verify the identity of RWA holders.
EQTY: Link on-chain liquidity directly to RWAs.
It’s that simple! Discover how LTO Network is making RWAs more accessible than ever!
Here: https://x.com/theltonetwork/status/1833818349077217576?s=46&t=psBtN2xtN0h2z8aPfa9blQ
6. Technical Milestones
LTO Network mainnet clocks 2,000 days!
This quarter, the LTO Network Mainnet hit a meaningful milestone: it celebrated 2,000 days of seamless operation! This achievement is a testament to its reliability and strength, marking a significant moment in our journey.
EQTY Update
We initially planned a full white paper for EQTY, but we’ve decided to switch gears and create a Litepaper instead! This change will help us safeguard the innovative technology behind the platform before its big launch. Promising outlook: Rick Schmitz is already in touch with several launch partners! Get ready for something amazing!
Universal Wallet Update
- We are nearing version 1.0 of the wallet!
- The Hacken team has kicked off a security audit for our wallet, and they’ve quickly identified some areas for improvement in how we store certain assets. In response, our development team has already begun the necessary adjustments.
- We’ve also taken a fresh look at the Ownables to NFT bridge. While our original system was decentralized, it relied heavily on interactions between our app and various NFT wallet apps on users' phones, which proved to be problematic. We re-imagined the architecture for a new bridge called the alphaBridge! This new architecture will provide a more robust, industrial-strength solution, ensuring reliability from day one as users connect their Ownables with NFT marketplaces.
- The alphaBridge will operate as a custodial bridge. Here’s how it works: when you want to bridge your Ownable to an NFT, you simply send your Ownable to the bridge. It will be securely stored there while you receive an NFT hardcoded to match your Ownable. When you're ready to trade, sell, or bridge back, the holder of the NFT can present it to the bridge, which will verify it and send the corresponding Ownable to your LTO wallet. It’s a straightforward system that may be less decentralized, but it’s designed to be rock-solid, minimizing complications for a smooth launch.
- We’re also making some minor tweaks to the Ownables Builder, which our wallet developers will integrate into the iOS and Android apps.
- We’re eagerly awaiting the next results from Hacken’s audit, which will be finalized once the new bridge is integrated. Stay tuned for more updates!
Development Update & Progress
- LTO RWAs Stage 1 - In progress.
- Proofi Biometric Integration - In progress.
- Land Registry Deployment - In progress.
- LTO Website Upgrade - In progress.
- Tokenizing Luxury RWAs - In progress.
Scantrust test transactions
Scantrust has been busy conducting a series of test transactions — stay tuned for what’s to come!
Ifoncier test transactions
Ifoncier is diving into real-world testing of our Land Registration Software with actual properties, getting us ever closer to secure and transparent land records management in developing countries.
7. Closing Words
As we wrap up our Q3 recap, it's clear that LTO Network is forging ahead in building an exceptionally robust ecosystem for Real World Assets (RWAs). Our dedicated team, along with our esteemed partners, brings a wealth of experience in managing real-world assets and navigating the intricacies of their regulations complexities. We are not just keeping pace with industry changes—we're leading the charge into a future where RWAs are seamlessly integrated into the digital landscape. Stay tuned for more exciting developments as we continue this journey!
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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