The Overstock-owned blockchain company, tZERO, has made its first step in supporting a blockchain other than Ethereum on its open-source protocol.
According to the press release on Tuesday, tZERO now supports Tezos on its digital securities protocol. This first-ever integration opens more options for digital securities issuers who wish to operate securities that are compatible with the tZERO ecosystem.
The new Tezos integration also notably follows growing demand by securities issuers for the Ethereum competitor, with tZERO confirming that it would support and improve more inclusion in future revisions.
Commenting on the development, CEO of tZERO, Saum Noursalehi applauded efforts made by the Tezos Foundation to make sure that “Tezos become the blockchain for digital securities” while adding that tZERO is only pleased to enable support for Tezos in its open-source protocol.”
He also confirmed that many digital securities issuers operating within the tZERO ecosystem, including the planned Alliance Investments’ River Plaza STO, are already looking to adopt the Tezos blockchain because of its adaptability to digital securities.
Meanwhile, Hubertus Thonhauser, a Tezos Foundation Council Member shared similar thoughts, saying in the release:
tZERO is a leader in blockchain innovation for capital markets, and we support the company’s aim of fostering the adoption of digital securities. We applaud tZERO for integrating the Tezos blockchain into its protocol, and we look forward to working with them as more issuers choose to use Tezos to support their digital securities.
tZERO, the blockchain subsidiary of Overstock.com, was reportedly founded on the purpose of leveraging smart contracts and distributed ledger technology to make Wall Street more accessible, and efficient.
In August, tZERO was granted a patent for the “Time Ordered Merkle Epoch” (TOME) methodology by the United States Patent and Trademark Office. This technology enables the blockchain company to verify time-series data, settlements, and executions automatically.
Through TOME, private blockchain ledgers and traditional matching engines can easily rely on public blockchain ledgers, as Coinfomania reported.