🧱Blockchain Technology

The Role of Blockchain Technology in LMTLS

Ensuring Anonymity, Transparency, and Reliability

Blockchain technology, renowned for its ability to securely store and share data among multiple participants, plays a pivotal role in the LMTLS project. The fundamental principles of anonymity and transparency embedded within blockchain are instrumental in shaping the LMTLS community loyalty platform.

In the blockchain realm, transactions are inherently public, yet the identities of users remain encrypted and, typically, unidentified. Users engage in transactions through encrypted digital signatures comprising public and private keys, safeguarding the anonymity of individuals involved. Consequently, the LMTLS community loyalty platform, guarantees transactional anonymity.

Transparency stands as another crucial aspect of the LMTLS project, fostering voluntary participation within the community loyalty platform. Blockchain transactions unveil comprehensive transaction details to participants, enabling the verification of transaction records. These records are encapsulated in data units known as blocks, interlinked chronologically. In addition to transactional data, blocks encompass hash values from preceding blocks, rendering data manipulation an arduous task, as altering transaction histories necessitates the modification of all preceding blocks.

Key Role of Token: Fostering Digital Community Engagement

Active and voluntary participation of ecosystem members is integral to the success of the LMTLS platform. Utility tokens serve as incentives for community members, recognizing and rewarding their contributions. Users are incentivized to acquire tokens by actively participating in and enriching LMTLS community activities. Furthermore, utility tokens are often exchangeable for other cryptocurrencies, granting users the flexibility to convert tokens into diverse assets, should they wish. This paves the way for the establishment of an independent economic system within the community, facilitating transactions and value exchanges within the community.

The utilization of tokens within the LMTLS community loyalty platform imparts numerous advantages, including incentive allocation, liquidity, economic autonomy, ownership verification, uniqueness, value, and tradability. These token-driven benefits culminate in the following advantages:

• Encouraging User Engagement: Tokens serve as potent incentives, propelling user participation in community activities. Users are motivated to accumulate points (LXP) by actively engaging in diverse activities within the LMTLS platform and Alliance services, thereby infusing renewed vitality into the community.

• Establishing a Community Economic Ecosystem: By instituting a self-contained economic system within the community, a seamless connection between token issuance and integrated usage is realized. This empowers community participants to employ point(LXP) for accessing diverse services or engaging in peer-to-peer transactions.

• Enhancing Brand Visibility: As the LMTLS ecosystem evolves, Alliances can take the strength of their brand with them by participating in LMTLS and utilizing LXP within the community. Additionally, increased utilization of LXP can help build brand loyalty.

• Leveraging user behavior data: User data recorded on-chain by earning LXP will be utilized for digital ad marketing. At this time, advertisers can access various user behavioral data through LIX to conduct targeted marketing.

Through the strategic utilization of tokens within the LMTLS community loyalty platform, user engagement and activities are incentivized, and economic value is generated within the community. This, in turn, contributes to the community's growth and enduring development.

DID-based Identity Verification and Incentive System

The LMTLS platform incorporates a DID-based identity authentication system. Users who engage with any services connected to the LMTLS ecosystem can register as LMTLS users through the DID-based identity authentication process. After registration, users can freely access any service and utilize their point(LXP). By subscribing to any service provided by ecosystem participant companies, users become part of the LMTLS ecosystem.

LMTLS does not use personal information without user consent. Instead, it expands the ecosystem based on users’ de-identified data, which is data that has been anonymized and encrypted to protect user identity. This approach assumes voluntary participation through point(LXP) and associated incentives. Users can consolidate and use point(LXP) rewards obtained through various services built on the LMTLS ecosystem.

The LMTLS Alliance shares de-identified user information from their services with LMTLS. Based on this data, LMTLS issues LXP for users by service, facilitating ecosystem expansion and applying users' activity history to diverse marketing strategies through point categorization by service. The LMTLS system grows with the participation of an increasing number of alliances and users, exhibiting ecosystem properties that continuously expand with openness while maintaining a level of exclusivity that prevents universal participation. At the same time, LMTLS also prevents malicious transactions by introducing a 'partial KYC process'. LMTLS basically does not mandate KYC process for seamless user activities, but plans to proceed with KYC process only for users who transfer more than a certain amount. Through an external third party(KYC), LMTLS can check the list of terrorists and criminals and ban the account if an issue occurs.

Conclusion

Blockchain technology, coupled with the utility of tokens and DID-based identity verification, serves as the bedrock of the LMTLS project. These elements collectively ensure anonymity, transparency, and reliability within the LMTLS community loyalty platform. Furthermore, they foster robust community engagement, facilitate an independent economic ecosystem, and enhance brand visibility. By strategically harnessing these technologies, LMTLS not only achieves its vision but also empowers its community to thrive and evolve.