LTO Network - May 2024 Recap

Main • Published on: Jun 26, 2024 • Last updated: Jun 26, 2024

TABLE OF CONTENTS

1. Introduction

2. May 2024 Operations

3. New Team Members

4. Blogs

5. Technical Milestones

6. Closing Words

1. Introduction

Join us for the May 2024 recap of LTO Network! Let's take a look at the past month's pivotal moments, latest advancements, achievements, and progress within the LTO Network domain, with a heavy focus on our momentum regarding Real-World Assets and how we are continuing to expose the world to the capabilities of our Layer-1 blockchain network.

2. May 2024 Operations

What are operations?

Operations represent data and records securely housed within our blockchain network. Think of them as bundled transactions that enhance efficiency and aid projects in cost-saving endeavors.

In May 2024, our clients carried out 1,073,415 operations on the LTO Network blockchain.

3. New Team Members

Pankhuri - Advisor

Meet Pankhuri, our newest advisor! With an impressive track record in high-tech roles at the UN and ISO and as the founder of Blockom Consulting, she brings a wealth of experience to the table. Pankhuri's journey from JP Morgan's crypto division to becoming a globally renowned speaker showcases her leadership in the industry. We're thrilled to have her expertise guiding us forward.

Colin - Front-End Lead

We're thrilled to welcome Colin aboard as our new Front-End Lead. Colin has catapulted our development progress forward. With a rich background in crafting web applications, including progressive web apps (PWAs), Colin is poised to elevate our projects to new heights. Now that most of the back-end development at LTO Network has been completed, his focus is now on user-centric products that align perfectly with our vision going forward, and we're eager to see the innovative direction he'll drive us towards.

4. Blogs

***How can LTO Network secure Real-World Assets?***

In this blog, we covered how LTO Network's blockchain technology is transforming asset management and security by providing secure and tamper-proof records for Real-World Assets (RWAs).

https://blog.ltonetwork.com/securing-rwas-blog/

5. Technical Milestones

Ownables

Our Ownables technology is running on our Mainnet. We have been quietly updating our SDK with new features that will soon be introduced to you. All of the functionality inside the upcoming iOS and Android wallet will also be available in our SDK wallet. This includes sending and receiving Ownables (Transfer), creating basic Ownables (Generator), and accessing the Ownables to NFT bridge (Bridge).

Universal Wallet

We are currently adding the Transfer, Generator, and Bridge modules to the iOS and Android wallets. We have found a company we will use for our security Audit. In the meantime, we will submit the wallet to the app stores without making it public so we can see if the publishers require any changes from us.

Proofi

Proofi is being updated. It currently uses some old EVM modules and has to be made compatible with the newest EVM testnet. Once this is complete, we will make some announcements about its future through the marketing department.

Land Registration Software

Our Land Registration Software is currently undergoing active pilot testing with one country.

Negotiations with a second country are in their final phase, and a third country has recently approached us.

Development Update and Progress

Ownables Wallet Integration - Completed.
LTO RWAs Stage 1 - In progress.
Proofi Biometric Integration - In progress.
Land Registry Deployment - In progress.

6. Closing Words

Throughout May 2024, notable and measurable progress has been achieved across various fronts. The team has expanded, and significant advancements have been achieved with Proofi, Ownables, Universal Wallet, and our Land Registration Software. With all this, LTO Network has also come closer to its goal of revolutionizing the tokenization of Real-World Assets.

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.