LowSea Leasing Node update (1st of June 2021)

Summer finally arrived! And it’s about time. Unfortunately, we see no sunshine in crypto right now. Most of that has to do with Bitcoin, but LTO seems to want to slack in the outdoor sun as well for a bit (the coin… not the team 😉). The last two weeks have been pretty silent in the form of announcements as work behind the scenes continues. But here are a few highlights:

Rick (CEO) and Arnold (Lead Architect) jumped into the main channel a few times to do impromptu AMAs with the community. In these times where txs seem to decrease, the market is trying to decide to go up or down and the projects on LTO are taking their sweet ass time to get started, the gesture is highly appreciated.

It was explained once more that the daily transactions dip is only temporarily as KATE is restructuring their internal systems. According to the team KATE had an internal deadline of the 1st of August, but I personally hope they do progress quicker than that so we see the transactions increase again. Nonetheless, when they return KATE should be ready to start the growth phase, marketing the blockchain decentralized workflows solutions much more aggressively than LTO ever could, while allowing LTO to focus on building out the mainnet functionalities for the identity node parts.

We’ve seen the FillTheDoc node return (part of KATE) after a brief absence. And we’ve also seen the first of more “dedicated” nodes pop up, where Cloud9 (https://www.cloud9music.nl/) is now running their own anchoring node on the LTO mainnet.

A few more United Nations test transactions were spotted, but nothing major yet so the situation remains the same: Waiting, waiting, waiting. If I didn’t knew better it could be Eth 2.0. 🤣

On the other side, communication efforts continue to improve. LTO now has a monthly newsletter set up, so people that don’t have time to scrape through all the telegram channels, can still be kept up to date. Subscribing for the newsletter can be done here: http://eepurl.com/gO9V2z

Niels from Sphereon mentioned on the 26th of May that Rosetta for LTO was nearly completed:

“We (Sphereon) have one developer working on that last few weeks. He needed to figure out quite a bit, as he obviously isn’t a LTO core developer or anything. Rosetta is split into 2 parts. 1) Reading the blockchain and 2) creating transactions. The reading part is completely working and all tests — even running for days — are passing. That means that Rosetta syncs from scratch and then randomly verifies addresses where it compares its internal calculations against live balances from the LTO node. For that we needed to implement all transaction types, including staking rewards and fee payments which are for instance different on leased transactions.

Right now, we are working on creating the transactions. Although that is a bit of a harder API, at this point we know how the calculations work etc, so we should be able to progress. We expect to reintegrate our work this development sprint, which ends next week.”

For those that are unfamiliar with the concept: Rosetta is an open-source specification and set of tools that makes integrating with blockchains simpler, faster, and more reliable.

Within the community it’s thought that Rosetta will give a bigger chance of LTO being listed on Coinbase, which is what many of us are looking forward to of course. If this is true or not, we will have to wait and see.

The community and the LTO team have also been working more tightly together to get marketing better organized. We have a new community member that will likely start leading such efforts to assist the team and a marketing materials google drive has been created so that people from the community can grab any materials to their liking when they want to help increase LTO’s exposure. See an example below.

Check it out more Marketing Material here: https://drive.google.com/drive/folders/1Mo1PTSwn6ysnF0oI1lmU9_TMnTTJLM0l

And that’s it for this update. May the growth continue and don’t forget to enjoy the nice weather if you have it!

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