Telos, one of the most active blockchain platforms in the world according to Crowdfundinsider, announced its partnership with Katalyo, a no-code Dapp development platform, to tokenize real estate properties on the coast of Croatia that is worth around $35 million.
The blockchain platform leader told Cointelegraph that Katalyo would be issuing two tokens for each seaside property involved in this initiative. One token would represent ownership of the real estate, and the second would be a fiat-based stablecoin generated from rental revenue.
The top executives for both platforms were excited and extremely positive about the potential outcome of this collaboration. The Chief Architect of the Telos Blockchain said that this partnership would result in “an explosion of new tokenized projects,” which will pave the way for other possible collaborations targeting tokenization revolutionizing the real estate industry.
Aithority said that the Telos network currently supports 10,000 transactions per second (TPS) with zero transaction fees, compared to Ethereum’s 14 TPS that's seeing increasing congestion with rising fees. In addition to increased speed and capacity, Telos has many advantages over other platforms that make it the most advanced blockchain software for building new smart contracts and decentralized applications. In addition to Katalyo, Telos also continues to join with other partners in the crypto space, including social impact startup All_EBT, interoperability platform Transledger, creative platform Newlife, privacy-focused social media DApp Murmur, and trading protocol EvolutionDex.