Arcology Provides Update on Its Optimized Version of CryptoKitties Application

To Further Demonstrate the Power of Its Blockchain Platform, Arcology Releases Additional Benchmarking Data and Performance Videos

Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is pleased to update Arcology’s previously announced news of its improved version of CryptoKitties

CryptoKitties is the most popular game on the Ethereum blockchain, but its initial success caused network slowdowns and inflated transaction fees.

“Ethereum is the most important blockchain in the world right now, and for good reason,” says Laurent Zhang, Arcology’s founder “But it continues to suffer from its popularity. Our blockchain platform is designed to solve Ethereum’s performance shortcomings.”

Arcology’s version of CryptoKitties, created as an internal benchmarking tool, outperforms the original by a factor of 1,000 to one.

During their most recent benchmarking tests, Zhang and his team documented their application’s performance. Two videos have been posted to the YouTube link on the Arcology website, https://arcology.network.

• In one video, Zhang’s team demonstrates how the Arcology testnet handles token transfer transactions, which are commonly seen in applications like online payments and DeFi (decentralized finance). The network reached a top transactions per second (“TPS”) of more than 40,000.
• In the other video, the Arcology team simulates approximately nine months of CryptoKitties gameplay by generating 2.5 million transactions running on 32 Ethereum Virtual Machines, or EVMs. During the test, the application’s one-minute moving average TPS reached a maximum TPS of 28,571.

For comparison, Ethereum’s original network handles just 15 to 20 transactions per second. According to previous announcements by Ethereum, planned improvements are expected to increase Ethereum’s TPS to approximately 3,000.

Arcology’s public GitHub code (previously announced) can be reached via Arcology’s website, https://arcology.network. The source code used in the performance demonstration is publicly viewable within this repository.

Qualified developers are invited to conduct their own performance tests of the optimized application on the Arcology testnet. For security purposes, access is by invitation only at this time. Interested parties are asked contact ir@codebase.ventures and provide relevant professional credentials.

Arcology is a cluster-computing powered blockchain ecosystem with unlimited scalability.

Codebase currently owns 30% of Arcology, with an option to increase its ownership to 51%.

The Company also announced that it has engaged Stockhouse to provide investor awareness services.

For more information, visit Codebase Venture Inc.’s website, https://www.codebase.ventures/.

About Codebase Ventures Inc.

Codebase Ventures Inc. seeks early-stage investments in sectors that have significant upside. We seek innovators who are establishing tomorrow’s standards. We support those innovators and help take their ideas to market.

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.

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