LowSea Leasing Node update (15th of November 2021)
LTO has finally managed to break out of its viciously repressed price level! Kucoin helped. Our awesome community helped. And being the gem that is LTO has DEFINITELY helped. While the price action is certainly exciting, there’s a ton of stuff going on, so let’s dive into it.
We started off November strongly with the official activation of LTO’s COBALT Mainnet update. Those that have read my updates regularly know all about this update, which brings the new Decentralized Identities and Verifiable Credentials structure to LTO’s Hybrid blockchain approach. You can read more about it in a previous update: https://cryptonarf.medium.com/lowsea-leasing-node-update-1st-of-may-2021-82a3160c6968
Kucoin trading went live with a nice trading competition. Kucoin supports the v2 LTO token, so be careful when you move funds to them from other ERC20 sources and double check if your LTO is not yet on the old v1 contract. The LTO Mainnet bridge has been adjusted to only give ERC20 v2 LTO tokens when you withdraw from Mainnet to ERC20, so you can use the mainnet bridge if you wish to go to Kucoin. Keep an eye out on the LTO blog to see which exchanges have officially announced supporting v2 LTO ERC20 tokens.
LTO also released brand new Command Line Interface lets you interact with the LTO Network mainnet and perform really useful tasks through a terminal.
Now that DID and VC are online, LTO Network integration by Triall is nearing completion & early transactions will start in a few weeks. Triall will be anchoring data from medical trials to the blockchain and it’s great to see another use case join the LTO ecosystem. Triall has their own crypto setup as well, so feel free to check them out.
In the meantime, it’s not only Rick who’s networking. Arnold Daniels (Lead Architect) is regularly invited to speak at events when he’s not building away in the dungeon. Last week, he attended a Beemup Metaverse-focused event. We’ve not heard much about what went on down there, but I can imagine NFT2.0 has a lot to offer when building the metaverse.
Another thing Arnold announced was the arrival of better/automated testing. These steps are necessary in order to keep providing quality products without too much time being consumed by daunting testing tasks. Great to see! 🥳
Everyone in the community is eagerly awaiting more information about the NFT2.0 approach that LTO is exploring. We’ll hear more about it this week (on the 17th of November), but here’s already a sneakpeek from Arnold’s twitter.
With $LTO, we’re working on a new generation of NFTs, where owning an NFT is more similar to owning a Magic card or a stamp. An NFT that’s truly yours and doesn’t rely on the issuer to serve anything after it has been created.
NFT2.0 will bundle everything into a package that sits in your wallet on your phone or laptop. It’s based on LTO’s hybrid chain, which means that information is kept private. Blockchain is only used for consensus, preventing double-spending.
Apart from all that, we saw the community really step up its engagement. I believe that is partly the reason why we finally broke out of the suppressed price range. We’ve seen the price rapidly increase to nearly All-Time-High levels and are now in a bit of a cooldown. It will be interesting to see if LTO can finally participate again in the bull run and with plenty of news and development happening I think we’re set to continue our way into the top 100 and higher.
Keep an eye on things in the next few weeks and if you want to help do your part, be sure to join the LTO Telegram ‘push’ group (who are focused on social activity).
May the growth continue and see you in a few weeks!
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