ltoama with theblockcircle
AMA

LTO Network full AMA transcript

AMA (Ask Me Anything ) was conducted with LTO Network on 24 Februry 2020 at 9:00 AM UTC live on our telegram group .

This was earlier scheduled to be on 19 Feb at 3:30 PM UTC which later was rescheduled on 24 Feb at 9:00 AM .

We were joined with ivangbi , CMO, responsible for community/marketing/and basically token-related things .

About LTO :

LTO Network is a hybrid blockchain for data security and workflow management. One of the leading ones in Europe now! But we have a very traditional business focused-team, so we balance each other well .

Community Questions :

Q. Why would a business use LTO over Hyperledger, R3 and various other projects that have created a similar solution that also don’t need a token?

Good one. So the deal with hyperledger and r3 is that they use the blockchain in a permissioned setting. Blockchain is about collaborationa nd open standards when it comes to verification. But that doesn’t mean your data has to be all public – nono.

LTo Network hybrid approach allows the public chain to act as a notary for hashes and be the security layer – while private chains and other integrations keep your data private and in your control: among those who are really “supposed” to see it

Q. As Lto says
It’s not a blockchain.
It’s the Blockchain for Business.
Can you describe which types of bussiness Lto supports?

We are not a general-purpose blockchain like Ethereum or Bitcoin: we do not work with tokens or money-flows. LTO Network is the B2B-oriented infrastructure where the public chain is available in an easy way to both businesses and end users. It’s a more simple and thus more integrator-friendly platform for real-world applications.

Q. The total supply is 453,402,411 LTO. So, are there any repurchase plans to burn or block tokens to increase the LTO value?

LTO wallets are visible on-chain & can always be verified. In fact, most of the possible supply is already circulating. See: https://blog.ltonetwork.com/lto-network-token-distribution/

Q. What is LTO roadmap in 2020?
What goals do you want to achieve?

Q. LTO Network aims to foster blockchain adoption, how successfully have you achieved this and made blockchain highly adaptable at global level

We have had really good traction in 2019 and it’s only increasing! We managed to get the product-market fit in easy integrations which real-world businesses actually demand.

Q.Can you tell us about your Commercial Partnerships???
and how is your business development progress until now???

Cool one! So SSI opens possibilities for more government and bank-collaborations. It’s a cute+cool open-source tool which can help us grow the developer community in 2020. But also it’s not as hard, and is just one of many at our disposal. See more: https://docs.ltonetwork.com/

Q. I see LIVE CONTRACT.
What is that? What is the difference from Smart Contract? What are the advantages of LIVE CONTRACT?

Live Contracts vs Smart Contracts 👾

They are not competing, they are complimentary. So smart contracts are not for data [you can use chainlink, yes, but it’s a different topic] – those are more for financial operations and DeFi, that’s why it’s doing so well! Live Contracts are for the workflow steps logic. Something that is more simple, and that cannot be and should not be done with smart contracts.

In fact, you can combine the two technologies. Like:

  • Live Contract step: sending a document in a supply chain process confirming the shipment
  • Live Contract step: confirming the receipt of the document and the products
  • Smart Contract is triggered, money is released from escrow

This is suuuuper basic, there are always more steps involved, but that’s basically it

Here is a very complex technical article: https://medium.com/harvard-undergraduate-blockchain-group/lto-network-how-reducing-power-increases-utility-bca7ca60bae4

Q.Most of investor just focus on the price of token in short term instead of real value of project. Can you tell us the motivation and benefits for investors to #LTOnetwork long term?

As the token holder, we really focus on making revenue go into the network – and not just our pockets. As there is no network inflation, clients and integrators buy LTO on the market – and that pay this to the blockchain. This is the real staking advantage, unlike some high-APR inflationary protocols.

https://blog.ltonetwork.com/staking-and-leasing-lto-network-node-guide/

Q. LTO network has scored way so good at getting clients/customers, What kind of strategy did LTO team follow to gain more customers and what are the requirements to be a customer of LTO?

We work with integrators and software companies basically tapping into their existing rea-world user base thus we have quicker and higher rate of adoptio than just going for end users like most of the protocols.

https://s3-eu-west-1.amazonaws.com/lto-content/documents/LTO+Network+System+Integrator+Presentation.pdf

Q. How did LTO survive in during long bear market? what your team strategy to gain more adoption? Can you share us on recent achievement your team are most of?

Yes, because apart from BTC-ETH communities – it’s mostly just businesses. And businesses need revenue and clients. We have them, but many projects do not. Thus we are surivivng and growing.

Telegram IDs of AMA winners are given below :

@Ardoniss
@ariefsusanto
@giveawayman
@phopira
@Whoami_sir
@victbt
@sam_cryptotrader
@Maksyrn
@paraphan
@Thiyagusumart

All winners are requested to join the official telegram group of LTO network ,you will be tipped there instantly.

Dont forget to follow us on https://twitter.com/theblockcircle

and join us on t.me/theblockcircle

230 cr
230 Cr has been interested in the cryptocurrency since 2017 when his friend introduced him to bitcoin .Interested by the bitcoin technology and suffering from centralised banking system he then decided to pursue his career in this space .

One Reply to “LTO Network full AMA transcript

Leave a Reply

Your email address will not be published. Required fields are marked *