These last two weeks the crypto market has had a lot to endure. Elon Musk has been using crypto as his play toy and not to the benefit of crypto being taken more serious. In my opinion, coins like doge coin or the numerous copy/paste versions of it or foodname coins should be ignored by the masses so the market can mature more and value flows to those initiatives that will actually bring change. One of them being LTO Network of course!
Despite the disappointing price action these last two weeks, we’ve seen tons of LTO activity again, so let’s dive into it!
After the numerous hackernoon articles from Mickey Maler about the Decentralized Identities and Verifiable Credentials (check LowSea Leasing’s previous update), a final article was released about the bigger picture of DIDs going forward: https://hackernoon.com/bigger-picture-with-the-decentralized-identifiers-lut34es
It is a long article but well worth the read if you have some time.
The articles were joined this week by a great document that LTO and Sphereon (one of LTO’s integrators) made together, highlighting 25 potential use-cases for DIDs & VCs and they are calling for companies and partners to come forward with other ideas on how to implement those techniques into the real world. Check out the Google Drive file here: https://drive.google.com/file/d/1RfaUqbUNeSjWJNfCkEGblFE52tIDhbgW/view?usp=sharing
More great news came in the form of LTO Network looking to hire more staff. To me, this means things are going well and we’ll see even more productivity come from the team going forward. People that wish to apply (or wish help spread the vacancies) can check the link here: https://lto.homerun.co/
Let’s hope some strong employees join the team to help speed things up, because we did not see much progress yet with the UN and KATE Innovations. The UN did multiple test transactions again these last two weeks, but nothing to earnest yet and still some lingering github issues remain. We’ve seen the daily transactions drop these last few weeks, mainly because of the blockchain based IT solutions now moving under the care of the actual companies (instead of being managed by LTO Network directly). This slump is taking longer than the team has anticipated (due to delays on KATE’s side and some sick employees), but they are confident things will start moving the other way again soon. We should see multiple new nodes come popping up, but when is the question on everyone’s mind.
In addition, I’ve heard a rumor. A very interesting rumor I might add, and not a bad one at that… It’s about one of the other nodes that disappeared recently: fillthedoc. Could it be a small mishap? Or is something else going on? We’ll have to wait and see. All I know is that FillTheDoc node disappearing for a bit is not helping the daily transactions right now, so I do hope to have them back soon.
Apart from the adoption focused news, we’ve also had some fun announcements these last two weeks:
First of all, LTO has been added to the augmented reality app (kind of like pokemon go) Aircoins. https://twitter.com/TheLTONetwork/status/1390682831014215685 Soon you’ll be able to go on a walkabout and start hunting for LTO tokens in the wild. Nothing too serious, but a fun thing for exposure. And remember: Gotta invest them all!(??)
For those wanting to help LTO with their creativity, there’s currently a slogan competition going on (with 1000 LTO as a price): https://twitter.com/TheLTONetwork/status/1391729133978271749
I believe LTO Network will be redoing their website to be more in line with other crypto projects and a good slogan would help catch people’s interest. So, get your thinking cap on and earn some tokens while your at it!
Besides the fun, we’re seeing more and more (small) platforms add LTO to their offered coins. These period LTO was also added to StealthEX (Exchange): https://twitter.com/StealthEX_io/status/1389856059528032256
and the 7b app (Broker): https://twitter.com/sevenb_roker/status/1393200256251305984
but when top 10 exchange?! ARGH!
Let’s close off the 2-week recap with a great interview that the team and Sphereon did with Lunarcrush:
In this hour long session, Rick, Arnold — together with Niels and Maarten from Sphereon — talk about the next steps forward with Verifiable Credentials. The sound is a little soft on the team side, but you can hear the eagerness and drive of both organizations to get things moving soon.
It was also dropped in the LTO Network telegram channel that the LTO integration on Sphereon’s side is almost done, at which point LTO should be offered as a solution in Sphereon’s Office365 plugin that is offered in the office365 app store to a lot of companies. That is besides the dedicated usecases they are building together. Remember this tweet from March? https://twitter.com/realrickschmitz/status/1374640176438345728
I’m looking forward to seeing the results come into play.
Final note: on top of the things above, Sphereon is now helping integrate the Rosetta protocol for LTO (remember… Rosetta… Coinbase… 🤩) which should be done in the next two weeks or so (but don’t hold me to it! Haha!).
That’s it. See you in a few weeks and may the growth continue!
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