In an official announcement from Vertalo, a securities transfer agent, the company is advising its customers to move from Ethereum to Tezos blockchain given the superior qualities the latter presents. CEO of Vertalo, Dave Hendricks, the company will retain its ether gateway given the massive landscape the blockchain still has in the smart contract field.
According to Hendricks the superior smart contract abilities of Tezos, easy programming in multiple languages and the staking properties are some of the reasons the company chose to switch. Explaining how Tezos beats the number one smart contract platform, Hendricks said,
“A real estate fund managed via a Tezos security token could simultaneously pay out a staking-based dividend next to an asset-secured dividend as is traditionally paid in investments like real estate investment trusts, an area that is a key focus for Vertalo and other security token platforms around the world.”
Tezos is a staking blockchain that offers users earning to hold their tokens with “bakers” who pay out interest on the staked amount. Vertalo has developed an interoperable chain that switches ERC-20 tokens to the Tezos blockchain giving users the ability to switch between the two chains.
Vertalo is a transfer application built on the blockchain that issues digital securities and consolidates broker dealers, issuers, crypto custodians and exchanges data to one platform.
According to a Coindesk post the Vertalo platform also “manages cap tables for startups and allows them to tokenize shares with the company’s REG D V-token”.
As at time of writing, Tezos (XTZ) changes hands at $1.55 USD with Ether trading at $173 USD across major exchanges.