LTO Network is a solution for businesses that decided to move their operations into the progressive world of blockchain. Being a hybrid blockchain, LTO Network provides both security associated with traditional blockchains and means of identification of its users, which is important for businesses that want clients to trust them. Moreover, businesses using LTO Network benefit from trust networks created specifically for every project. LTO Network makes working with contracts easy, flexible, and secure.
LTO Network has its own ERC-20 token that greases the wheels of the system: users pay transaction fees with LTO, receive it for staking, for keeping the network operational (hosting validation nodes) and as a reward for the projects built on the network.
LTO Network was born under the name LegalThings in 2014. Firm24, the men behind the idea, at the time aimed to provide an online platform for creating legal documents, digitising the existing ones and signing them digitally. Since then the project won a hackathon, changed its name to LTO Network, won the trust of the Royal Dutch Institute for normalization and standards, and went through numerous upgrades to become even more reliable. The core team of the project consists of co-founders Rick Schmitz (CEO), Martijn Migchelsen (COO and CFO), and Arnold Daniels (lead architect).
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