The LTO network has the goal of connecting businesses and establishing collaborations between them. A trustless blockchain network has a public layer acting as an unchangeable digital notary as well as a private layer with functions such as data sharing and process automation. Added to the fact that it is very scalable, the LTO network roadmap shows that the protocol is preparing for mass adoption. In this article, we will be discussing what is LTO network, as well as, LTO network coin, and where to make the LTO token swap.
LTO is one of the best hybrid blockchain networks for automating business procedures and decentralized workflows. With the aid of a live-contract-based solution, organizations can access and execute transactions, trade information, structure supply chain, delegate data processing concurrently in a trustless setting.
The LTO network is known to provide quality assistance to its users. Some of them include the facilitation and regulation of transaction processes, information exchange between organizations, business supply chain creation, and the transfer of data to third parties securely.
Initially, the LTO network was known as LegalThingsOne before being rebranded as the LTO network with the LTO coin as its native token. It was established in May 2014 as a subsidiary of Firm24, to implement simple legal transactions on the blockchain network. LTO portrays a concept of interaction between private and public blockchain networks.
As a hybrid blockchain app development platform, the LTO network secures, verifies, and exchanges enterprise information. Nevertheless, LTO is distinguished from its competitors with one very fact. The fact that LTO network coin plays a vital technical role in the network operation and through its revenue generation capabilities.
Compared to the LTO network, most blockchain solutions for enterprises don’t like going too deep in the crypto world. In addition, LTO provides anyone with access to become a node operator and participate in the LTO network-a permission-less private network that operates on a hybrid blockchain.
The LTO network’s hybrid nature becomes crystal clear when hashes are solely shared with all the nodes on the public network. At the same time, data is shared on a p2p basis between each node. With this in play, businesses can sufficiently benefit from the immutability of blockchain technology without risking the privacy of their data.
There are two important features in the LTO blockchain network:
The Live contracts features allow parties to create a live equally beneficial agreement. The LTO parent system acts as a public ledger whenever parties agree to launch a live contract. What the LTO parent system does is the creation of a private blockchain to record and track the contract’s present state and the history of events.
LTO network coin is both available on ERC-20 standard and on own blockachain. ERC-20 token provides liquidity and a connection bridge for LTO network users while mainnet LTO is used for staking mainly. LTO coins are also used as a means of payment on the network like paying for transactions or holding them for the sake of speculation. As of April 2021, the LTO network coin had a verified circulating supply of 296,267,611.60 LTO tokens.
LTO has a maximum supply of 403,393,276 LTO tokens, which has been allocated accordingly by the organization. According to the allocations, 15% is allocated to the ecosystem fund, 10% goes to the foundation, 17% is reserved for the team, 4% is meant for the advisors/contributors, 12% allotted for marketing purposes and partners, 13% is reserved for the seed round, and 29% goes to the private and public sale.
Basically, there are four kinds of token holders;
When it comes to the LTO network staking operations, there are four categories of staking validators in its system. The LTO team declared its goal of achieving “token distribution in the maturity phase of ~80% held by participants”. These are both Passive clients and Joint business builders.
Corporate clients make up the most percentage for primary blockchain network usage of the LTO network. They are encouraged to hold LTO coins and in turn, are rewarded with incentives for aiding the functionality and stability of the overall network.
Doing this helps to bring in more clients, thus creating a good circle. In addition, a higher staking ratio enhances security, making attacks on the network astronomically costly.
LTO implemented a feature known as a “troll bridge”, which tax users when they convert between the native mainnet staking token and the ERC-20 liquidity token. Initially, the bridge was designed to prevent early users from selling their tokens. However, the growth and expansion of LTO in both users and value have made the bridge irrelevant.
According to the LTO network roadmap, 50 million tokens were burned in June 2020. It further explained that about 81 million additional tokens had been locked for Mergers & Acquisitions to tackle the future need of the project. LTO also made a reassuring statement to the public, stating that they do not rely on sales proceeds to keep operations going and strengthen the network’s growth. Instead, they are committed to a long-term lockup for strengthening the trust of the community in the LTO protocol.
The LTO network LTO coin can be stored on the official LTO network wallet as well as other popular wallets like Trust Wallet, Ledger device, Atomic Wallet, etc. You can also store the LTO coin on an exchange’s wallet but that is highly unadvisable as centralized exchanges’ wallets are often vulnerable to attacks.
To know how to make LTO token swap, you just need to visit Swapzone. Swapzone has both LTO(ERC20) and LTO (mainnet) tokens available. The steps below will help you to become a participant of the LTO Network:
An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.
There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.
Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.
If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.
Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.
The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.
The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.
To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.
There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.
If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.
There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.
To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.
Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.
Learn how to exchange cryptocurrency with the lowest fees or zero fees as well as how to find the best crypto exchange rates and choose the safest cryptocurrency exchange provider.