Graph Blockchain Inc. (CSE: GBLC) (OTC Pink: REGRF) ("Graph" or the "Company") as a follow up to our news release on April 6, 2021 is pleased to announce the Company has deployed capital into a third cryptocurrency, Chainlink's token ("LINK Token"), for the purpose of staking.
As part of our recent deployment of $2,000,000 previously announced on April 6, 2021, the Company allocated the final tranche of $500,000 into LINK. Additional information will be provided on the LINK Token as the project develops and progresses through its development phases.
Paul Haber, CEO of Graph Blockchain Inc., commented, "We are very excited to be deploying funds into our third token purchase. We feel strongly that Link will appreciate in value given it has a substantial market cap of over USD $13B, a fixed supply, and is possibly the most important piece of infrastructure in the blockchain ecosystem. Graph understands firsthand how valuable bridging onchain and offchain data sources is to smart contracts and Chainlink is the best solution on the market."
Chainlink is a decentralized oracle network that provides off-blockchain data to smart contracts. Chainlink was first described in a white paper published in September 2017. Chainlink is a decentralized network that connects smart contracts to external data or the outside world. It aims to bring real world data onto the blockchain so that smart contracts can interact with real world events and information that exist off-blockchain. Chainlink was built to increase the potential applications and prospects for smart contracts and reduce their need to rely on trusted third parties.
LINK is the digital asset token used to pay for services on the Chainlink network. It is built on Ethereum in accordance with the ERC20 standard for tokens. LINK can be bought and sold for fiat currency or other digital currencies. The supply of LINK is fixed at 1 billion LINK tokens.
About Graph Blockchain Inc.
The Company is a blockchain development company that provides high performance blockchain solutions that include graphic data analysis and consulting services, implementation of data mining analysis through the use of graph databases and speed enhancements of blockchain control systems for businesses and government. This includes the Babbage Mining Corp. which will focus on altcoins, alternative cryptocurrencies to Bitcoin. Graph will be the first publicly tradable altcoin Proof of Stake ("POS") miner, which will generate revenue while providing exposure to several top digital assets by market capitalization.
By mining altcoins through Proof of Stake, Babbage can provide to its investors exposure to the vast emerging market of cryptocurrencies with the significant technological disruption and potential gains that altcoins represent.
For further information, please contact:
Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. In some cases, forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking statements. Such statements may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events, or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/79738