Introduction
Blockchain technology is gaining popularity everyday. Since the creation of this technology from 2008, it is evolving as a revolutionary technology. It's immutable, incorruptible and unhackable nature makes it more superior than any other existing technology. That's why many government agencies, companies and organizations began exploring the use of blockchain into their core applications.
Formally it was created to provide freedom from current financial system. In 2008 the world has faced the financial crisis and thus blockchain was created with anarcho-capatalist idea to provide a new financial ecosystem to the world. It provides fully transparent, flexible and secured system which can replace the existing financial structure completely.
Blockchain's derivative cryptocurrency is known as the future of financial transactions. That's why many people give special attention to implement these technologies into every sphere of our society for transformation. Today many projects are developing on blockchain to provide solutions to every business sector. Thus developments are happening everyday to bring this technology in mainstream, some projects fail and some projects succeed.
Many organizations are desperately wanted to implement these technologies into their core workflow because of blockchain's transparency and immutable property. To many of us still the blockchain is a complex technology to understand. And we are keen to know how blockchain is immutable in data management (i.e unchangeable data) ?
According to some experts:
• if we store our every precious data in blockchain and consider for mass adoption we seriously concern about the security. Because a single security flaw can lead to hacking attack and we lose our precious data which leads to a serious problem;
• the second one factor is extent to the immutable nature. The blockchain uses a complex mathematical operational process to store the valuable data. If any modification is done to the present hashed data as the previous data is no longer relevant, this creates a new hashed data. This method allows to check whether the data has been modified or not.
These are the challenges present in the present blockchain and crypto sector which needs to be addressed to make it superior. Thanks to LTO Network project which is committed to solve the above mentioned problems.
About the project
The main aim of the LTO Network project is to create a reliable blockchain technology solution for businesses and organizations, thus they can easily adopt and implement blockchain solution into their core workflow. This makes mass adoption of blockchain technology in every sphere of work process.
LTO Network blockchain solution increases the transparency and security level of valuable data of organizations and companies which is in accordance with the General Data Protection Regulation (GDPR).
Design feature
LTO Network provides simple and reliable blockchain solution for businesses and organizations that they can easily implement into their core workflow through separate interacting nodes.
LTO Network also allow it's network participants to exchange their valuable data with each other through blockchain and off chain. And also they can automate their work flow process with the help of self executable decentralized live contracts. These live contracts are like a smart contract on the blockchain, they consists of logical chains of work processes and can preciously execute the work automatically, which saves the time.
Advantages
Here are some advantages of LTO Network :
• in order to process the large workflow of live smart contracts, nodes are used in the LTO blockchain network;
• only with the use of nodes can access the private blockchain without this it will restrict the access to the blockchain;
• on the public blockchain, nodes provide the ability to exchange the data with each other on the network. This removes the complexity and makes it easy for the transmission of reliable and valuable data;
• event validation process allows to verify and check the processes happening on the blockchain network. This allows to block any unauthorized process, as soon as it detects any malicious behavior it immediately blocks the process.;
Implementation of blockchain provides scalable, reliable and faster rate of transaction speed (3 seconds), unlike the traditional network which process the workflow at the rate of 20 minutes and for synchronization it takes more amount of time upto days. On the LTO Network summary-blocks increases the speed of process as nodes delete the transactions and creates the new one everyday. With the help of JSON REST API organizations and companies can easily integrate the LTO blockchain solution with just a single HTTP request.
Token details
Conclusion
There is no doubt that with LTO Networks blockchain solution will play an important role in making mass adoption blockchain technology into every business sector. LTO Network makes it very easy for businesses to adopt blockchain into their workflow. Thus every business operation becomes more transparent, reliable and secured. LTO Network project team has highly experienced professionals and have the capability to drive the project to success. This project needs much public attention.
Learn more about LTO Network:
Website: https://lto.network
Read Whitepaper: https://lto.network/documents/LTO%20Network%20-%20Technical%20Paper.pdf
Telegram: https://t.me/joinchat/AJWQTUDKtDlsuGHVFb40eQ
Twitter: https://twitter.com/ltonetwork
Medium: https://medium.com/ltonetwork
LinkedIn:
Reddit: https://www.reddit.com/r/livecontracts/
YouTube: https://www.youtube.com/channel/UCaHcF-xterKYTKSpY4xgKiw
GitHub: https://github.com/legalthings
About Author:
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