Litra Client Terms and Conditions of Use

LITRA TERMINOLOGY GLOSSARY

1.- Cryptocurrency: A cryptocurrency is a digital asset that uses cryptographic encryption to guarantee its ownership, ensure the integrity of transactions, and control the creation of additional units.

2.-Transaction: It is an operation where an origin A transfers an amount of cryptocurrency to a destination B.

3.- Block: It is a set of data, such as a set of transactions.

4.- Blockchain: It is a shared or distributed database where the registered information is stored in blocks, linked together cryptographically, and validated in a decentralized way through a common protocol.

5.- Multiple transaction: It is an operation where an origin A transfers the same amount of cryptocurrency to multiple destinations.

6.- Event: Allows a smart contract to go from one state to another, when the conditions determined in said contract are met.

7.- Transaction Blockchain: It is a blockchain implemented from the AL1 Protocol, whose blocks contain transactions belonging to the Litra Project.

8.- Blockchain of smart contracts: It is a blockchain implemented from the AL1 Protocol, whose blocks contain smart contracts belonging to the Litra Project.

9.- Event Blockchain: It is a blockchain implemented from the AL1 Protocol, whose blocks contain events belonging to the Litra Project.

10.- Blockchains of the Litra Project: It is made up of a single transaction blockchain, a single smart contract blockchain, and a single event blockchain, throughout the entire life of the project.

11.- Node: Computer equipment equipped with data processing and storage capacity, which allows the execution of computer programs with their own business logic.

12.- A.L.1 Protocol: Set of computer programs that act as a system that allows the creation of blockchains in a parameterizable way, using both a symmetric and asymmetric cryptographic system, which requires only one active node to continue functioning.

13.- Litra holder: That natural or legal person who is the owner of the private and public key, whose litra address associated with the latter has 0.000000001 litras or more, a fact that can be verified in the Litra Project transaction blockchain.

14.- Litra Client: Software part of the AL1 Protocol, which allows natural or legal persons to interact with the Litra Project.

15.- Public key: It is a succession of ones and zeros at a computer level generated during the asymmetric cryptography process.

16.- Private Key: It is a succession of ones and zeros at a computer level generated during the asymmetric cryptography process, it is associated with a public key and both allow identification and interaction with the protocol through the Litra client.

17.- User: Natural or legal person that the Litra client uses to interact with the Litra Project.

18.- Litra Address: It is a sequence of ones and zeros at the computer level, which uniquely identifies a user to the protocol, and is calculated based on the public key entered in the Litra Client. The user can freely disseminate this address to receive letters, so it is encoded in a friendlier format, which makes its dissemination easier. A user can check their Litra address through the Litra Client, or by opening the .TXT file they received in the Litra user creation process.

19.- Litra Project: It is a project managed by the company AL1 Protocol S.L (with headquarters in Spain) and open to the community, which includes users, independent programmers, hackers, economists, collaborating companies, etc., whose mission is to contribute a solution to the problems derived from physical money, allowing a logical evolutionary transition to digital money, also providing a solution to secure payments over the Internet and content certification, quickly and efficiently.

20.- AL1 Protocol S.L: It is the legal entity that manages the Litra Project.

21.- Notary Node: It is a node in which a computer program part of the A.L.1 Protocol, called “Notary”, is installed. It is responsible for verifying that the content of the block belonging to the transaction blockchain is correct before signing it. That a block is signed by a Notary node is an essential requirement for it to be part of the protocol’s transaction block chain.

22.- Smart Notary Node: It is a node in which a computer program part of the A.L.1 Protocol, called “Smart Notary”, is installed. It emerges as a subtype of Notary, where they share a good part of their operation, but they sign blocks corresponding to the event blockchains and smart contracts.

23.- Secretary Node: It is a node in which a computer program part of the A.L.1 Protocol is installed, called “Secretary”, and which acts as a link between Litra users and the notary nodes, releasing the latter of tasks specific to the business logic of the protocol, which entail a considerable processing need.

24.- Intelligent Secretary Node: These are nodes that emerge as a subtype of secretary, making use of the parameterization capacity of the A.L.1 Protocol, and that act as a link between Litra users and the intelligent notary nodes, releasing these last of tasks specific to the business logic of the protocol, which entail a considerable processing need.

25.- Client node: Node where a Litra client is installed.

26.- Down node: It is any node that cannot carry out its associated business logic (due to an attack, power outage, etc.).

27.- Mining activity: It is an activity consisting of carrying out two tasks: the first of them consists of the calculation of complex mathematical operations, based on the new blocks generated in the blockchain that contains the transactions of the Litra Project, and that allows audit whether they are correctly signed. The second task consists of saving the new generated blocks (acting as a backup copy of the protocol).

28.- Mining:  It is the performance of the mining activity, which can optionally be carried out through the Litra Client.

29.- Miner: This is a Litra Client who has the option to carry out mining activities activated.

30.- Winning Miner: This is a miner who receives litra cryptocurrency as compensation for the mining tasks carried out.

31.- Foreman Node: It is a node in which a computer program part of the A.L.1 Protocol, called “Foreman”, is installed. They allow mining operations to be carried out by the client nodes that are performing them.

31.- Altas Node: It is a node in which a computer program part of the A.L.1 Protocol, called “Altas”, is installed. Allows a user, from their Litra Client program, to obtain the necessary credentials to operate with the Litra Project.

32.-Transaction generated directly by client: It is a transaction generated by a user through their Litra Client program.

33.- Payment transaction to miners: multiple transaction whose purpose is the reward in litras for the winning miners of each new block, generated in the transaction blockchain.

34.- Frozen litras: It is a quantity of litras greater than 0, whose holder loses the ability to transfer them in any type of transaction.

35.- Thawed litras: It is the action that allows a quantity greater than 0 frozen litras to stop being frozen.

36.- Transaction associated with a smart contract: These are transactions that are carried out in different states of the smart contracts, and allow freezing or unfreezing litras.

37.- Block communication Delay: it is a parameterizable amount of time in the Litra network protocol, in order to allow time for the blocks to be transmitted through the network and reach from one notary to another.

38.- Notary 0: is a special notary node that carries out some functionalities offered by the A.L.1 Protocol, such as the backup copy of transactions not yet written in the blockchain, or the management of catastrophic scenarios, in which each and every one of the nodes attacked effectively and simultaneously, and has subsequently been restarted. The A.L.1 Protocol is prepared so that it can continue working with a downed Notary 0 node.

39.- Winning block: It is the block chosen from among all those proposed by the Notaries, and that is written as the next block in the blockchain.

40.- Smart Contract: It is a computer program that facilitates, secures, enforces and executes agreements between two or more parties, stored in a chain of blocks, to which is added the ability to obtain information from outside, allowing interaction with actors and external factors automatically. It has a life cycle that allows a contract to always be in a certain state, specifying the operations that must be carried out when passing from one state to another, as well as the conditions that must be met for said state change to be feasible.

The acceptance of all parties involved in the contract is an essential requirement in order to be concluded.

41.-Litra address of origin of the smart contract: It is the litra address from which the frozen litras come (origin of the total payment associated with the contract).

42.-Litra destination address of the smart contract: It is the Litra destination address of the payment transaction associated with the contract, which will be carried out if the conditions stipulated therein are met.

43.-Duration of a smart contract: It is the period of time available to the user to whom the destination Litra address belongs to carry out their part of the contract.

44.- State 1 of a smart contract:  This is the initial state in which a smart contract is, once it has been created by the user to whom the Litra address of origin of said contract belongs. Since the litras are frozen, the user to whom the destination address of the litras belongs is assured that he will receive them if he fulfills his part of the contract.

45.- State 2 of a smart contract: It is reached from a contract state 1, when the user to whom the destination Litra address belongs, informs through the Litra client that he has carried out his part of the contract.

46.- State 3 of a smart contract: It is reached from a contract state 2, when the user to whom the destination Litra address belongs, informs through the Litra client that there is a conflict with the user of the source address, which prevents the contract from being finalized.

47.- State 4 of a smart contract: It is reached from a contract state 2, when the user to whom the source Litra address belongs, informs through the Litra client that there is a conflict with the user of the destination address, which prevents the contract from being finalized.

48.- State 5 of a smart contract: It is reached from a contract state 2, when the user to whom the origin Litra address belongs verifies that the counterparty has complied with the conditions of the contract, reporting this fact through the Litra client , leaving the contract closed.

49.- State 6 of a smart contract: It is reached from a contract state 1, when the user to whom the origin Litra address belongs, informs through the Litra client that, having elapsed the duration of the contract, he has not obtained a response any on the part of the user of the destination address, leaving the contract closed.

50.- State 7 of a smart contract: It is reached from a contract state 3, when the trusted agent of the contract fails in favor of the user to whom the destination Litra address belongs, leaving the contract closed. In this case, the trusted agent has considered that the conditions of the contract have been met, and the amount of litras agreed upon in the contract passes to the destination.

51.- State 8 of a smart contract: It is reached from a contract state 3, when the trusted agent of the contract fails in favor of the user to whom the origin Litra address belongs, leaving the contract closed. In this case, the trusted agent has considered that the conditions of the contract have not been met, and the amount of litras agreed upon therein is unfrozen and returned to its original owner.

52.- State 9 of a smart contract: It is reached from a contract state 1, when the user to whom the destination Litra address belongs, informs through the Litra client that he does not agree with the conditions of the contract, leaving this as closed.

53.- Conflict status of a smart contract: A contract is in conflict status when it is in state 6 or 7.

54.- Closed smart contract: A smart contract is closed when it is in state 5, 6, 7, 8 or 9.

55.- Trusted agent: It is a natural or legal person that intervenes in a smart contract identified by its Litra address, acting as a trusted third party, and who has the power to, if the contract is in a state of conflict, decide whether the frozen litras are defrosted in favor of their current owner (litra source address of the contract), or whether they are defrosted and transferred to the destination address present in the contract.

56.- Smart precontract: It is a smart contract that has not been created by the user to whom the Litra address origin of the precontract belongs, nor by the user to whom the Litra destination address of the precontract belongs. It has a useful life of 5 minutes, in which it must be accepted by the source address appearing in the pre-contract, through the Litra client program, going from a smart pre-contract to a smart contract. If a smart pre-contract is not accepted within 5 minutes of its creation, it is eliminated and becomes invalid.

57.-Partner: It is a natural or legal person, authorized by THE COMPANY, who has the capacity to create smart pre-contracts, and whose address cannot be the origin or destination of the smart pre-contracts created.

58.- Type 0 contract: is a smart contract used in the Litra Project, which aims to buy or sell litras, receiving an amount in fiat currency or cryptocurrency in return. This type of contract always arises from the acceptance of a pre-contract created by a partner. It is associated with a secure payment, so always a collaborating agent acting as a trusted third party.

59.- Type 1 contract: it is a smart contract used in the Litra Project, which aims to sell goods or provide services, receiving an amount in litras in return. This type of contract always arises from the acceptance of a pre-contract created by a partner. It is associated with a secure payment, so always a collaborating agent acting as a trusted third party.

60.- Contract type 2: It is a smart contract used in the Litra Project, which aims to sell goods or provide services, receiving an amount in litras in return. It is created directly by Litra users, without the need for a prior pre-contract since consent is given directly during its creation.

61.- Contract type 3:  is a smart contract used in the Litra Project and more specifically in the service it offers to the user called “Digital Notary”, which aims to certify any fact or circumstance that can be digitized.

62.- Digital notary: It is a service provided by the Litra Project, which aims to allow the user to certify any fact or circumstance that can be digitized, by entering a text and the possibility of uploading a file (all formats are allowed), which may or may not be encrypted, at the user’s discretion. All of this will be part of a type 3 contract, which will be part of the Litra smart contract blockchain, remaining immutable for life. Anyone may have access to the content of the contract, and if it exists, to the attached file, although if it is encrypted, only those who have the password will be able to make its contents intelligible.

63.- litra: is the name of the cryptocurrency used in the Litra Project to pay for the services it offers. It is generated in a controlled manner in quantity and time through a mining process, and is managed through the Litra transaction blockchain.

64.- Commission: It is an amount of litras generated in smart contracts that the trusted agent or trusted agents involved in said contract receives.

 

Terms and Conditions

Below you will find the terms and conditions of use of the official website of the Litra Project: https://www.litra.io (the “site”) and our client application available in versions for Android, IOS and Windows, with which , together with the content policy and the privacy policy, form a contract between the company AL1 Protocol S.L, with CIF B44561082, domiciled at Calle Guadalcanal 11B, La Rinconada, Seville, and duly represented by Manuel Estévez González, hereinafter “Litra ”, and the user, hereinafter “you” or the “user”.

In these Terms of Use, when we refer to Litra, we include by reference its owners, directors, administrators, investors, employees or any related natural or legal person. Depending on the context, Litra may also refer to the services, products, content or any materials that Litra provides on the Site or outside the Site, through its applications.

 

Acceptance of Terms of Use

By using the services provided by Litra you are accepting, and therefore you are obliged to comply with, these Terms and Conditions of Use. By accepting these Terms and Conditions, it implies that you have been informed in a clear, understandable and unequivocal manner of these terms. and you understand that they are legally binding and mandatory.

Therefore, before using the services provided by Litra, you must carefully read all the Terms of Use, Content Policy and Privacy Policy, and if you do not agree, you must refrain from continuing to use them. That is, by using the services provided by Litra you are expressly guaranteeing that:

– You accept and are bound by these Terms of Use, Content Policy and Privacy Policy, which are binding; and that you have all the capabilities to accept and be bound by the Terms of Use, particularly if you do so on behalf of a legal entity.

– You will not use your account for a criminal or fraudulent purpose or have your account used by another person or entity without your authorization.

 

Description of Litra

Litra corresponds to a network that uses blockchain technology. First of all, it is your responsibility to ensure that you are accessing our official website to download the original client program, following the following steps:

Check that the address that appears in your browser is our official address:

https://www.litra.es or www.litra.io.

Make sure your browser shows you that you are accessing a secure site (with a lock icon next to the address). At litra.es all communication is encrypted, and that is what the “padlock” indicates.

Keep in mind that when you transfer liters, you are not transferring liters to Litra, Litra will only make it easier for you to send and receive liters with other users of the platform. Litra does not act as a depository for the liters in secure payments.

The Litra ecosystem functions as a meeting place between those people who seek to transfer liters, or take advantage of the services offered by Litra.

A user’s account on Litra is personal, unique and non-transferable. Registration, acceptance of these terms and management of the account is the exclusive power of the Registered User who owns the account.

You accept that Litra may be prevented from offering its services for reasons beyond its control. These reasons will also include those due to an unusual increase in users, cyber attacks, problems from third-party service providers or due to system updates and improvements through emergency or scheduled shutdowns. The latter will be promptly notified to Users.

You accept that certain services, such as all operations that involve smart contracts, are subject to a service charge or transaction costs, the amount of which is duly noted in the client program.

Notwithstanding the fact that liter is aimed at users from Spain, depending on the country of residence, it may be the case that a User does not have the possibility of using all the functions of the Site. And even that, depending on the nationality, country of residence or country issuing the User’s identity document, Litra is prevented from providing the service or reserves the right to do so, in compliance with the regulations of that country. Currently, Litra reserves the right to admit as Users all those who could be considered ‘US persons’ (US person being understood as a citizen or resident in the United States of America, and even those who, without residing, have an identity document issued by the United States of America, according to the legal definition of US Persons for the regulations of “Money Services Business”).

 

Registered User Accounts, Verification

To use the Litra client program you can do so by accessing through a personal certificate, or by creating one through the client program itself (becoming a registered user). By registering as a Registered User you agree to provide us with true, correct and updated information. Any change in this information is your responsibility and therefore we ask you to update it in the event of any change and from time to time, since it is through it that we will try to contact you for any necessary circumstance. If you access using a personal digital certificate, you agree that it has not been tampered with.

Additionally, by using the services offered by Litra, you authorize Litra to, directly or through third parties, carry out inquiries, queries, database crossings and any other action that we consider relevant in order to verify your identity, according to as established in the Privacy Policy, and to comply with current provisions regarding the prevention of money laundering, financing of terrorism and/or protecting ourselves against fraud.

Likewise, when you register as a Registered User and verify the Account, a public and private key will be generated. You have the option of choosing a secret key to access it (password), with you being the only one in charge of saving the password. confidentiality of those, and therefore the person responsible for the information and use of your Account. Furthermore, by registering you accept the responsibility of maintaining control of the security of any information, IDs, passwords or any code you use to access the client and never sharing them with third parties. You understand that any carelessness or lack of appropriate diligence on your part in relation to the handling of the information indicated above may result in unauthorized access to your account by third parties, and in the loss or theft of the letters held in it. Litra will not be responsible for any loss or damage that you may suffer as a result of access by unauthorized third parties to your Account as a result of hacking or lost passwords, which may be attributed to your fault or negligence. If you believe that your Account access information has been compromised, contact us immediately by email at lost@litra.io, or by phone number +34 644 25 68 77.

Verification of the Registered User Account consists of you providing an electronic identity document issued by an official entity. From this certificate, Litra will assume that the person who owns that certificate is who they say they are. Litra reserves the right to request all the information it considers relevant and necessary for the User to transact or operate any of the services it provides. In the event that this information is not provided or is not true, the User understands that they could be reported to the authorities in accordance with the legal regulations of the country in which the operation is carried out, and stop offering the services provided.

If we find or suspect any inappropriate activity related to your Account, we may request additional information, including document authentication. You will be obligated to comply with these requests, or you accept that otherwise your Account may be closed and/or reported, as the case may be. Likewise, in the event of these events you must immediately contact Litra as indicated in the “Contact” point below.

Your certificate is non-transferable, and it is prohibited for you to transfer it to third parties to enjoy the services offered by Litra on your behalf.

The User accepts and declares that he or she will not use the services offered by Litra to carry out illegal or criminal activities of any kind, including but not limited to asset or money laundering, terrorist financing, financial terrorism, malicious hacking, violation of exchange regulations and of transfers, evasion or transgression of tax provisions, etc.

Due to its very personal nature, you accept that the sale, assignment or transfer of the account associated with your certificate is prohibited.

Ownership of the liters is yours and is not transferred to Litra. As the owner of your liters, you are the one who must bear the risk of losing their value.

Litra reserves the right to take any measures necessary to protect the security and safety of the protocol, including the temporary suspension of operations, and other necessary measures; Litra will take all necessary measures to be able to report any material operational changes; however, by their nature, such changes may occur without prior notice.

 

Closure, Suspension and Unverified Accounts

Registered Users can exercise their legal rights regarding the protection of personal data, as explained in the Privacy Policy document.

Likewise, you accept and agree that Litra, without prior notice, may limit access to its services and tools, restrict or remove stored content, and take technical and legal actions to keep Registered Users off the Site if it deems that they are violating the Terms of Use or Content Policies.

Litra may suspend or close Accounts of Registered Users, and/or cancel or reverse operations, if users cause operational difficulties for Litra or carry out malicious or fraudulent acts, such as asset or money laundering, terrorist financing, or other activities. criminal acts, or the transgression of the exchange or tax provisions of each country.

Upon closing an Account, Users must initiate a process of liquidating their liters on a platform that operates their exchange, within 10 business days following notification of the suspension or closure of the account, otherwise this will not be possible. You will be able to use these liters until you can reopen or the cause for suspension of the account ceases. In the event of canceling or blocking a previously accepted Account, litra reserves the right to require you to complete a know-your-customer form and request a declaration of origin of funds and any other documentary evidence of identity verification that is necessary in Litra’s opinion, before allowing the withdrawal or transfer of funds maintained in the Account on the date of cancellation or blocking, in compliance with anti-money laundering legislation.

Likewise, in the event of canceling or blocking a previously accepted Account, for any reason, Litra will inform or notify you of this decision, except in the case of a request or instruction to the contrary by any governmental or state institution or authority, if it is conforms to the respective legal and/or procedural standards that are applicable.

Finally, by creating an Account you accept that the decision to cancel or block it may be based on confidential criteria essential to Litra’s own Compliance and Risk protocols, so you understand and accept that the latter has no obligation to reveal details. of these internal protocols.

 

Service Charge, Transaction Costs and Compensation

Litra will not charge any commission for liter transactions that occur within the protocol, but will charge a service commission in the event that a user makes use of the catalog of smart contracts offered by Litra.

The service commission is charged in its entirety at the time of the transaction, so there are no subsequent charges associated with them and there will be no subsequent charges.

All costs corresponding to the services are shown to the user, so that they can expressly accept them if they agree with them.

In the event that the User considers that they have been billed for service charges, transaction costs or charges that did not correspond, the Registered user must contact our Customer Service team to resolve said situation at the email general@litra.io.

You accept the ruling given by the trusted third party, in the event of any dispute that may arise in the smart contract associated with the service offered by Litra.

 

Site Availability

You accept and agree that Litra is not responsible for any damage, loss or loss caused by failures in the system, in the server, or on the Internet beyond Litra’s control.

Litra does not guarantee continued or uninterrupted access and use of its services, since third parties are involved. The system may eventually be unavailable due to technical difficulties or Internet failures, or due to any other circumstance beyond Litra’s control or its own. In such cases, efforts will be made to restore it as quickly as possible.

 

Limited Use Right

Unless otherwise expressly stated, all material on this website and client program is the property of Litra and is protected by copyright, copyright, trademark rights and other applicable international laws.

The Litra brand and logo are property of AL1 Protocol S.L and their respective owners. The software, texts, reports, images, graphics, information, prices, videos and audios are also the property of Litra, unless expressly indicated otherwise. The Trademark and Material must not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any commercial manner, whether automated or manual. The use of any material on another site or computer network, for any purpose other than Litra, is strictly prohibited; Any unauthorized use will violate applicable copyright, trademark, and other international laws and may result in civil or criminal penalties.

 

Jurisdiction

These Terms of Use are regulated under the Law of each of the jurisdictions where Litra operates as an incorporated company.

 

Compensation

The User will indemnify, hold harmless and defend Litra, its affiliates, subsidiary and controlling companies, and their respective directors, managers, administrators and employees, for any action, claim or demand of other Users or third parties for their activities or for their own non-compliance. of the Terms of Use and other Policies that are understood to be incorporated into the Terms of Use or for the violation of any laws or rights of third parties, including attorneys’ fees in a reasonable amount.

 

Modifications to the Terms of Use

Litra reserves the right to modify these Terms of Use at any time, and such changes will be effective from the time they are posted. Litra undertakes to make reasonable efforts to inform of material changes to the Terms of Use, through whatever means Litra deems appropriate, but it is the User’s ultimate responsibility to periodically review the Terms of Use of the Site. If changes are made to the Terms of Use, Users continue to use the services offered by Litra, it will mean that they accept said changes.

 

Information Privacy

To use the Services offered by Litra, Registered Users must provide certain personal data. Your personal information is processed and stored on servers or magnetic media that maintain physical and technological security and protection standards. For more information about the privacy of Personal Data and cases in which personal information will be revealed, you can consult our Privacy Policy.

 

Contact

If you have any questions, claims, comments or suggestions regarding these Terms of Use, your rights and obligations arising from these Terms of Use and/or the use of the Site and its Services, your Account, we ask you to contact us through: general @litra.io

Additionally, if it is necessary to contact you, we will contact you through the email associated with your Litra account.