WILMINGTON – Telios, the Wilmington startup that offers a fully decentralized peer-to-peer email service provider enabling its users to send and receive encrypted messages and files, has been selected as a grantee project to build on top of Coreum, a third-generation enterprise-grade blockchain.

The startup is among a half dozen startups selected as grantees, all of which will be backed by the Sologenic Development Foundation, according to a statement.

Coreum is a blockchain that the organization says “provides core infrastructure for the future of decentralized blockchain applications, from asset tokenization and banking to Metaverse and gaming sectors.”

Its protocol already supports Bitcoin, Avalanche, R3 Corda, Tron, and Fantom, a statement notes.

Cryptocurrency is crashing this year, but the underlying technology still enables entrepreneurs viable options to drive innovation.

“During this bear market, when many cryptocurrencies and projects are declining in value, big players are getting back to the fundamentals by placing investments into the underlying technology – into Layer-1 projects,” said Bob Ras, a co-founder of Sologenic, in a statement. “As an enterprise grade blockchain, Coreum’s modular and interoperable design provides the core infrastructure necessary for these grantee projects to flourish, especially amid these market conditions.”

Telios will begin to develop on the platform in November.

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