First, the big news! The first official Decentralized Identities use case is finally starting. The Les Ambassadeurs Casino in London will be utilizing the DID and VC structure of LTO Network to improve the client experience; allowing visitors to take transfer their winnings from one casino to another. 🤩
This novel approach will allow a player’s winnings to be stored in a stablecoin wallet and should cut back on administrative costs in several places in the process. LTO’s partner/integrator Sphereon developed everything from the front to backend onto the backbone that LTO Network provides with its mainnet. 😎
It’s great to see one of the official DID use cases get started. They will be trialing the created setup in the field with the intent to roll it out bigger and wider later in the year. Just imagine that you won’t have to KYC yourself in all casinos, but that you can simply proof your identity quickly and efficiently, while taking your winnings from one establishment to another… now imagine that all the online casino websites are able to hook into this as well. That is pretty awesome.
It should be a great showcase for projects to see where DID and VC can add value. 🥰
In other news, the tokenomics update ‘JUICY’ is undergoing further testing on testnet. Some bugs were discovered and most of them are already fixed, but testing continues and not everything is working yet as expected. LTO’s Lead Architect Arnold Daniels is working with the testnet owners to track done the inconsistencies and is keeping everyone informed in the telegram techlab chat on telegram.
Interesting enough, there’s some pretty big movements taking place from exchanges to LTO mainnet at the moment, so it seems that some of the whales out there are taking notice of the upcoming tokenomics.
Next up, news about wallets and exchanges! First, LTO was added to the crypto.com DeFi Wallet. Which is a nice recognition and it makes me wonder how long it will take before they will officially list LTO on the crypto.com exchange. 🤔😋
Apart from that LTO got listed on two different Indian exchanges with INR pairs. These are the first active LTO/IRN pairs for LTO:
Nice to see them join the party!
There’s also several new blog post worth checking out:
- First, an article how LTO Network will help regulations move into the crypto space. We’re seeing increased restrictions popping up around the world and LTO Network is ready to help smooth things along. A regulated structure will mean less scams, less money laundering and better acceptance from the business world. Definitely worth a read. 🤗
- Second, a quick interview with Arnold Daniels about the upcoming Tokenomics.
- Third, an introductory piece for those people finding LTO Network for the first time. Back 2 basics looks into the core of blockchain and how LTO Network tackles those things.
And I believe we should see more of this series popping up over the next few months.
- And then fourth, talking about the road LTO Network is on right now with the Three Pillars.
The team noticed some of the community members were getting confused with all the different directions LTO seemingly was moving in. This blog post explains how the team sees LTO moving forward.
In short, it’s more all-inclusive, but aimed at providing specific useful technology solutions. Call it a base layer protocol like Chainlink or The Graph, or simply call it a layer-1 (spoiler: it’s both).
Fact is, LTO Network is expanding and growing while it provides unique benefits that can help the entire blockchain space, and that’s what is important.
Moving on to the community entertainment stuff going on right now:
And last but not least, we close this week’s update with some rumors. I wonder what kind of deal the CFO and CEO were meeting for in the UK. 🤔🧐
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