Blockchain

Code Investee, Arcology Moves a Step Closer to Public Testnet

Codebase Ventures Inc. ("Codebase'' or the "Company") (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is pleased to provide an update from Arcology's leadership team. Codebase owns 30% of Arcology, with an option to increase its position to 51% as previously announced

Arcology's technical team is pleased to announce that they have successfully completed another showcase - an optimized version of DSToken, used by some of the most popular Ethereum based applications such as MakerDAO's DAI. This is a great first step towards interoperability; opening up the possibility for complex decentralized applications (DApps) to be redeployed from their existing blockchains directly onto Arcology without the need for updates or changes to the code repository. Once optimized and running on Arcology, these DApps will not only run much faster and efficient on Arcology's native chain, but the fees will be much more affordable and inclusive to new and existing users.

"One of the situations that many developers are facing with Ethereum today is the frustration of failing to meet growing popularity," states Arcology's Founder, Mr. Laurent Zhang.

Arcology's technical team is currently running internal speed tests with their optimized version of the DSToken, reaching speeds of up to 28,000 transactions per second at full capacity. When compared to Ethereum's average of 15 transactions per second**, this massive improvement to speed and efficiency comes at a time where users are eagerly looking for better alternatives.

Mr. Zhang believes that over time, Arcology will be able to seize a sizeable percentage of this market once fully operational, as they focus on lowering the barrier of entry for users and building a strong developer community.

"With its scalability and cost advantage, Arcology is able to target areas of the blockchain ecosystem that weren't accessible to Ethereum users due to the high fees and network congestion. We do not hope to replace Ethereum, we aim to bring accessibility to users and developers alike, expanding market opportunities," added Mr. Zhang.

As Arcology completes another successful showcase, they are now one step closer to releasing a public testnet and allowing developers and blockchain enthusiasts to interact with the latest generation of blockchain - a blockchain with a vision to make high fees and congestion a thing of the past.

** https://blockchair.com/ethereum/charts/transactions-per-second?interval=1m

About Codebase Ventures Inc.

Codebase Ventures Inc. seeks early-stage investments in emerging technology sectors, including the blockchain ecosystem and fintech. The Company identifies such opportunities and applies its relationships and capital to advance its interests.

For further information, please contact:

George Tsafalas - Ivy Lu
Investor Relations
Telephone: Toll-Free (877) 806-CODE (2633) or 1 (778) 806-5150
E-mail: IR@codebase.ventures

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

SOURCE: Codebase Ventures Inc.



View source version on accesswire.com:
https://www.accesswire.com/645590/Arcology-Development-Team-Announces-DSToken-Showcase

News Provided by ACCESSWIRE via QuoteMedia

Cypher Metaverse

Cypher Metaverse


Keep reading...Show less
physical token of bitcoin being secured in pocket

Why is Crypto Down?

A variety of factors have played a role into the ongoing volatility and downward trend in prices for cryptocurrency investments.

While cryptocurrencies have vaulted in terms of mainstream interest as a radical new form of investment, their ever-present volatile nature has continued to plague investors.

Here the Investing News Network (INN) offers a breakdown what is ailing the value of cryptocurrencies.

Keep reading...Show less
a person in a suit signing a paper

NEO Exchange Goes Global After Cboe Acquisition

A new acquisition has brought the Canadian stock market closer to the global stage.

The Toronto-based NEO Exchange was acquired by Cboe Global Markets (BATS:CBOE) in June, bringing the emerging securities exchange to a wider array of investors.

The market infrastructure and tradable products provider completed the deal for an undisclosed amount using “existing credit facilities and cash on hand."

Keep reading...Show less
Arcology Launches New Website Aimed at Developers

Arcology Launches New Website Aimed at Developers

Arcology Network Takes Significant Step In Broadening Awareness with the Developer Community as per Update from Arcology's Leadership Team regarding Cypher's investment in Arcology parent, Capital Blocktech Inc.

Cypher Metaverse Inc. ("Cypher'' or the "Company") (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is pleased to provide an update from Arcology's leadership team, as Arcology has launched a new website with advanced capabilities to spur the next phase of its growth. Arcology is owned by Capital Blocktech Inc., of which Cypher owns 30

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
physical token of bitcoin on top of laptop

Should Investors Follow the Bitcoin Fear and Greed Index?

Bitcoin has come a long way from being a fringe digital asset to a mainstream opportunity for investors.

But the rapid onset of this emerging opportunity has caught people off guard, with some wondering whether it’s too late to jump in — especially considering the volatility of the top cryptocurrency and other leading digital assets.

One measuring tool that has captured the attention of market participants when it comes to bitcoin is the Fear and Greed Index, a self-described “multifactorial market sentiment analysis.”

Keep reading...Show less
Ways to Invest in Blockchain

Ways to Invest in Blockchain

Blockchain technology is increasingly being implemented in business processes across a variety of industries, meaning now may be the best time to learn about ways to invest in blockchain.

A blockchain is a digitized and decentralized public ledger of all cryptocurrency transactions. Blockchains are constantly growing as completed blocks are recorded and added in chronological order; the appeal is that this enables digital currency transactions to be tracked and verified without central record keeping.

The technology is becoming increasingly mainstream, and many investors are looking for ways to cash in on this exciting industry. Read on for a look at the basics of how to invest in blockchain.

Keep reading...Show less
cryptocurrencies with laptop and cellphone

What is Crypto?

Cryptocurrencies and blockchain technology are making headlines as the digital revolution continues to reshape diverse industries, such as finance, gaming and insurance.

Bitstamp’s 2022 Crypto Pulse report reveals an “overwhelming belief in crypto’s potential” on the part of investors.

“Our first Crypto Pulse report finds that there is a simple equation for adoption: when investors know more, they trust it more, and thus adopt it more,” Julian Sawyer, CEO of Bitstamp, explains in the report.

Keep reading...Show less

Latest Press Releases

Related News

×