LowSea Leasing Node update (15th of January 2021)

So! What have we to mentioned this time? Well, first of all, we had an amazing price rally and it’s good to see that the new level (though there’s been a bit of a drawback due to BTC pulling back as well) are holding up nicely. A new Binance ATH price was established at 0,25 USD, but of course everyone expects this to go much higher in the upcoming months.

With the new year on its way, the LTO Network team has returned to the office and is already hard at work on different things:
- Rosetta implementation. This will smoothing a possible listing onto Coinbase, one of the major exchanges in the US. US people currently have difficulties buying LTO and if LTO wants to make it into the top20 on coinmarketcap.com, we need more exchanges to bring in that liquidity. Other US exchanges are also looked at for possible listings. Think about Binance.US, Kraken, Bittrex or another Asian exchange. Hopefully, we’ll see some of them list LTO in the near future.
- Team has begun work on their DID structure. These decentralized identities will be the main focus point for LTO in 2021 with lots of interesting potential use cases and growth.
- We’re getting a bit of extra tokens burned, as LTO will burn as many tokens per month as VIDT tokens will be burned. The impact is smaller for LTO due to our bigger total supply, but every bit of extra burning helps decrease LTO’s total supply and thus make our tokens more valuable.
- Speaking of burning: The transaction burn mechanism has now officially burned more than 1.000.000 tokens!
- The United Nations node is not active yet. We’ve been close to 100k daily txs this week a few times, so it won’t be long anymore before we cross it, but we’ve not seen any big jumps in growth yet. I’m looking forward to see this happen soon.
- The blackbox project of LTO has officially been announced. It concerns the tracking of fisher boats in the North Sea to ensure boats follow the legislation about maximum amount of time within a certain region. It will be interesting to see how quickly this can scale up and if other countries will join this project in the future with their boat fleet.
- A blog post was released about a FAQ “why LTO’s transactions are not pegged in USD/EURO/Fiat?”: https://blog.ltonetwork.com/faq-why-arent-lto-transactions-pegged-to-the-euro/ it’s a good read, but what’s most interesting in it, is that the team WANTS the price to grow. In contrast to what some people believe, namely that they want to keep the price down to keep transaction costs low. The merger & acquisition part of the tokens are much more valuable to use when LTO has a big marketcap like 1 billion USD and the team is driven to get to that point (and thus top 20 on CMC), so they can use their chain’s strength to acquire promising blockchain startups and incorporate them into LTO. It’s a good strategy in these early days of blockchain adoption, I think and should stop any FUD about team pressuring the price downward.

I’m probably forgetting a few more things, but in general our community has been growing a lot, on reddit, on twitter and on telegram. Please remember to do your bit. Help spread the news and as always; May the growth continue! 🙏