Toolkit for Trustless Workflows
LTO Network is a blockchain platform enabling B2B to collaborate on equal footing by using trustless processes: essentially any business process (BPM) or legal agreement can be automated via Live Contracts (extended deterministic Finite State Machines). LTO infrastructure combines miniature ad-hoc permissionless private chains and a permissionless public chain - as well as the developer toolkit to interact with them. Processes are completely GDPR and regulatory compliant and are also made easy for adoption and integration. The blockchain uses a newly developed Leased proof of Importance staking model and uses BitcoinNG consensus.
Every organization runs numerous business processes, which can define the rules of a workflow, visualized as a flowchart or BPMN diagram. With LTO, a workflow is expressed as a deterministic extended Finite State Machine (FSM). Blockchain enables organizations to run these workflows in a decentralized way, enabling each party to participate using their own nodes. Collaborating parties can share information on-chain or off-chain, such as documents, linked data or (interactive) zero knowledge-proofs. These decentralized workflows are called Live Contracts. Similar to Smart Contracts, Live Contracts provide a dynamic method for defining logic on the blockchain. However, the purpose of a Live Contract is not to just determine state, but to actively instruct humans and computers about steps in a workflow.