• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Blockchain Market
    Blockchain News
    Blockchain Stocks
    • Blockchain Market
    • Blockchain News
    • Blockchain Stocks
    blockchain investing

    Global Blockchain Mining Provides Update on 2 Tier Mining Spinoff

    Jocelyn Aspa
    Nov. 15, 2018 04:10PM PST
    Blockchain Investing
    CSE:FORK

    The company said in the release on Wednesday it expects the servicenodes to be fully operational on theLaser, Ammbr and other networks by Q1 2019.

    Global Blockchain Mining (CSE:FORK) provided an update on Wednesday (November 14) on the masternodes for its two-tier blockchain networks.

    The company said that the strategy in which the masternodes operate will use servicenodes for features like speedy transactions.

    According to the release, Global Blockchain Mining expects to have the servicenodes operational on the Laser, Ammbr and other networks by Q1 2019. The servicenodes have already been launched on the Dash, Horizen, Zcoin, PIVX and Loki blockchain networks.

    Masternodes are explained by the company as being different than standard nodes on a blockchain network by operating as a “subset of other nodes that are capable of performing unique functions,” which include near real-time transactions and private transactions, to name a few.  The company said that in order to own a masternode, operators are required to commit collateral that can be confiscated in the event of dishonesty.

    “The use of collateral has the dual effect of ensuring honesty through incentive economics and placing a high barrier to entry for node operators,” the release says.

    The company said in its quest to run a data center for reasons other than mining bitcoin, it is aiming to provide computation power for artificial intelligence (AI) applications in addition to operating servicenodes.

    Shidan Gouran, president and CEO of Global Blockchain Mining, said in the release that the company is working to deliver value by mining bitcoin and expanding its operations to include running masternodes on “promising networks.”

    “A defining value of [Global Blockchain Mining], as a business, is investing in infrastructure, as opposed to speculating on assets,” he said. “We have both the capital and the computing resources to position ourselves as an authority in servicenode operations.”

    While Global Blockchain Mining expands into the servicenode industry, in terms of its bitcoin mining the company has a opened up a new division that provides blockchain development and operating and consulting services to outside parties. Existing clients include AMMBR with additional ones to be announced sometime in Q4 of this year.

    Shares of Global Blockchain Mining remain unchanged from its previous close on Wednesday at C$0.02 as of market close on Thursday (November 15).

    Don’t forget to follow us @INN_Technology for real-time news updates!

    Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article. 

    bitcoin miningcse:forkglobal blockchain miningblockchain investing
    The Conversation (0)

    Go Deeper

    AI Powered
    Crypto miner mining Bitcoin surrounded by computer hardware.

    6 Biggest Crypto-Mining Stocks

    Hand holding pickaxe, mining for Bitcoin on a dark rock surface.

    From Proof of Work to Useful Work: Bitcoin's Energy Footprint Gets Rewired

    Latest News

    AEG Confirms Pre-Sale of 35% of Initial 8 MW UAE Capacity with Strong Revenue Outlook and Clear Expansion Path

    American AI Expert to Partner with HUI in Gulf States

    More News

    Outlook Reports world

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Blockchain Investing Stocks

    Bitcoin Well

    BTCW:CC

    Blockmate Ventures

    MATE:CA

    Torrent Capital

    TORR:CC

    Prophecy DeFi

    PDFI:CC

    CoinSmart Financial Inc

    SMRT:AQN

    Graph Blockchain

    GBLC:CNX
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES