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What is LTO Network (LTO) and how does it work?

by Financial Economy

LTO Network was released in September 2018. Initially, it was named Legal Things One Network, later shortened to LTO Network. LTO Network is produced to allow simple legal transactions to be made on the blockchain. Legal and business transactions that are still carried out on paper are a burden in many ways, especially in the digital age. Information about ” What is LTO Network (LTO) and how does it work?” is in rest of the article.

What is LTO Network (LTO) and how does it work?

The purpose of LTO Network is to provide a digital distributed ledger recording system that serves the business and requirements related to legally binding contracts. The blockchain network built for this purpose provides a decentralized transaction flow and is recorded on a public blockchain.

LTO Network uses the Least Proof of Work consensus to ensure consensus on its working principle. Thanks to this consensus system, it also keeps few token holders in the system. LTO Network has published two economic and technical White Papers. LTO Network has distributed tokens on two separate chains. These are ERC-20 and LTO main network tokens on Ethereum. While private investors buy main network tokens that are not traded on exchanges, LTOs bought on exchanges are ERC20 tokens.

What are the advantages of LTO Network?

LTO Network eliminates the work and paper burden created by legal transactions in the field of law and ensures that these transactions are transferred to the digital world. By sharing all legal decisions publicly through a decentralized system, it ensures that the decisions taken are transparent and reliable. In addition, LTO does not remain in theory and has proven its practical use due to the fact that many companies use the features it promises to make and the areas it provides solutions.

How is LTO Network mining done?

LTO Network is a non-mining cryptocurrency. All LTO Network quantity is produced by the company.

For  other crypto currency: https://en.wikipedia.org/wiki/List_of_cryptocurrencies

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