LowSea Leasing Node update (15th of September 2021)
September is well on its way and so is LTO’s activity. With the summer holiday finally over, LTO is making progress again on things, so get right to it.
To start off the month, LTO announced their Mainnet update ‘COBALT’! This upgrade will introduce the long-awaited Decentralized Identities and Verifiable Credentials functionality.
It will introduce multi-cipher flexibility, meaning that you can use an Ethereum public / private key set to sign transactions on LTO Network, as well as a DID verification method. This will open the door for any Ethereum-based smart contract project to make use of LTO’s DIDs and VCs.
It will also introduce the ‘sponsored transaction’ type, allowing organizations to pay for a particular transaction. This is extremely useful in the road to adoption when you want to create a DID and VC ecosystem, and is in addition to the already present ‘sponsored account/association’ which is used when a certain party want to pay for ALL transactions of a node (and thus a client can simply be doing business in fiat with the integrator, rather than having to worry about the crypto side of things).
COBALT is the start of LTO Network’s expansion beyond the pure B2B approach. With DIDs and VCs coming into play, LTO will start servicing other blockchains where needed and in the future LTO will likely pivot further toward that wider crypto approach. Doing so should open up LTO’s Ecosystem V approach much more and allow anyone (company or individual) to start building on LTO Network, instead of focusing purely on the business processes that LTO has been tackling up till now.
Read the full COBALT blogpost here: https://blog.ltonetwork.com/cobalt-update/
LTO announced a new partnership, Triall, which could grow into something very big. The two organization are not total strangers to each other as there is an overlap with one of LTO’s current integrator Sphereon. This shows how collaborations with integrators are constantly expanding and growing as more and more use cases come into the fold.
Read the announcement here: https://blog.ltonetwork.com/lto-triall-covid/
The news got picked up by Yahoo Finance and Associated Press as well as over 200 smaller news outlets.
Triall is just starting up, but they have connections in place with many of the clinical processes they service. The cooperation with LTO will be both anchoring and using the new DID/VC structure when the COBALT update has been done. Hopefully we’ll see a nice increase in APY because of it. 😁
The Dutch exchange Bitvavo has listed LTO on their exchange. Being one of the larger European exchanges, it’s great to have a new fiat onramp ready, especially with the trouble Binance has been getting to be pushed into the KYC compliance. All in all, that particular KYC trend is nothing bad for us LTO investors. It will help crypto get more mainstream, and LTO Network is building the structure to support such a more regulated approach of crypto and DeFi, but for now it’s just nice to have more options out there and see this recognition come from LTO’s homebase country.
And, of course, with every exchange added, the big exchanges take more notice, bringing LTO’s listing on another top 10 exchange closer and closer.
Links to share:
https://twitter.com/bitvavocom/status/1436708122157101064
https://twitter.com/TheLTONetwork/status/1435608484742004738
And last but not least (after two years of waiting and months of hard work!), Ledger’s LTO app has finally officially launched! https://twitter.com/theltonetwork/status/1437787982929571842
You can now use LTO’s mainnet wallet (and several other third party wallets) with the Ledger Nano S and X, keeping your valuable tokens extra secure while you lease and stake them on LTO mainnet. It’s great to see this professional step forward and should help anyone that had doubts about using https://wallet.lto.network directly.
That’s it for this time. May the growth and news continue. See you in two weeks!
Looking for a great crypto investment?
LTO is a Proof of Stake blockchain with a deflationary total supply that is driven by real adoption. Join LowSea Leasing and be part of the progress that LTO Network is making in the cryptoverse.
Come stake your coins at the LowSea Leasing node on LTO Mainnet. Just follow these easy steps: https://cryptonarf.medium.com/welcome-to-lowsea-leasing-9161fb28a19a
