[PRESS RELEASE – AMSTERDAM – October 29, 2021]
LTO Network today announced the completion of its Cobalt Update and that it has been accepted in a node vote. Cobalt, LTO Network’s biggest update yet, brings decentralized identifiers and verifiable credentials to the company. This will act as the missing link between cryptocurrency and the real world.
LTO Network is a leading European blockchain-focused mainly on B2B enterprise solutions. The Cobalt Update, which highlights LTO Network as an identity platform, implements most of the features from its 2021 Roadmap and establishes LTO as a global solution, setting the company on its course toward becoming a chain.
“Our new solution is the layer that binds traditional financial and business models to the crypto world,” said the Architect of LTO Network, Arnold Daniels, “This will satisfy the needs of individuals, governments, regulatory bodies and businesses, while at the same time providing credibility and benefits to the blockchain world. In addition, Decentralized Identities and Verifiable Credentials are on the horizon. It is time to widen the scope and offer our services to the entire world of blockchain.”
A unique feature of LTO Network is its hybrid approach. Privacy-sensitive information can be sent peer-to-peer, while consensus is always done through the public node. This allows for privacy-aware DApps and is vital where sensitive information is shared between specific parties and not with an entire network.
“Cobalt bridges your crypto identity and real-world identity in a way that gives you control over your privacy,” said the CEO of LTO Network, Rick Schmitz. “It is the next step in online privacy management.”
Schmitz continued, “LTO Network is dedicated to offering every party, big or small, the tools to make it all happen. We bring experience and expertise to securing data, breaking the data silo problem, bringing DIDs and VCs with networks of trust into DeFi or NFTs, and creating new, unique products. LTO Network has only just begun.”