Enabling B2B to collaborate on equal footing using trustless automated processes with GDPR and data privacy compliance: combining permissionless ad-hoc private chains with a permissionless public blockchain.
LTO Network enables collaboration between multiple organizations and departments via decentralized workflows, where parties can keep using their own (legacy) systems to participate in a process.
Decentralized Workflow Automation
Using blockchain technology, LTO Network enables organizations to run B2B-workflows in a decentralized way, where parties participate via their own node.
Just as in the real world, when parties conclude an agreement, the execution of this agreement needs to be take place in the correct way. LTO Network uses decentralized workflows called Live Contracts to automate these procedures. Live Contracts contain instructions for both humans and systems on the actions that need to be executed. All parties involved in the Live Contract validate each others actions and secure data submissions.
LTO Network bursts the hype bubble and unlocks next level process efficiency. Today.
LTO Network has been servicing clients from various industries since 2014. For over a year our focus has been on real-world decentralized workflow applications for enterprises, governments and standalone projects.
LTO Network helps your organization drive transparency and efficiency while maintaining legal compliance and cutting down operational costs.
LTO Network splits the functionality into two layers.
Layer 2 consists of ad-hoc permissionless private chains, each with their own workflow logic. Every Live Contract rests upon its own miniature chain, making for ad-hoc collaboration.
The logic in each miniature chain is defined as Finite State Machine, which differentiates LTO Network from other side chain projects. This makes the logic in a Live Contract understandable for both humans and machines.
Each private chain is visible to and shared only with the participants that are supposed to be interacting in that particular Live Contract. This means that the number of participants on each chain is limited, as most legal contracts consist of only about a handful participants.
As a result, guaranteeing immutability on just the private chain itself is hard. This is where the public chain comes in (layer 1). Every event happening in layer 2 (or rather, the fact that an event happened, not the data itself) is being hashed onto layer 1.
A hash is a one-way function that converts one value to another. When a document is hashed, a unique hash is generated, consisting of just digits and letters. Because hashing is a one-way function, the document itself can never be re-generated from just the hash.
In short,the private layer is for data sharing, process automation, and collaboration. The public layer, on the other hand, acts as a security settlement layer, like an immutable digital notary for hashes of layer 2 (a distributed hash table, of sort). This hybrid approach makes LTO Network GDPR and data privacy compliant, as well as extremely scalable.
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Website : http://lto.network/
Medium : https://medium.com/ltonetwork
Telegram Group : https://t.me/joinchat/AJWQTUDKtDlsuGHVFb40eQ
Twitter : https://twitter.com/ltonetwork
Reddit : https://www.reddit.com/r/livecontracts/