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Graph Blockchain Inc. (CSE: GBLC) (OTC Pink: REGRF) ("Graph" or the "Company") is pleased to announce the Company has begun Proof of Stake Mining of Tezos's native token ("XTZ Token").
The Company having acquired 100,000 XTZ Token's for USD $670,967 on May 5, 2021 has initiated staking of its full allocation using Coinbase. As of the date of this news release, the XTZ Token has already appreciated in value by 17.86%. [1]
Additional information will be provided on the XTZ Token as the project develops and progresses through its development phases. XTZ Token can earn a staking reward with a estimated annual reward rate of 4.63% which may change over time and is based on the Tezos staking rewards generated.
Coinbase has implemented safeguards to ensure a healthy and efficient network both on-chain and through their platform. These safeguards include both minimum and maximum amounts for each cryptocurrency they allow customers to send through the blockchain.
Paul Haber, CEO of Graph Blockchain Inc. commented, "We believe Tezos' consensus algorithm and general approach to the crypto community will help it acquire a significant portion of the smart contract platform market share, and therefore significant price appreciation. Its Liquid Proof of Stake technology is more decentralized, more scalable, and considerably more sustainable than Proof of Work networks. Graph Blockchain is proud to support Proof of Stake platforms and the Tezos network."
About Tezos
Tezos (XTZ) is a blockchain platform designed to support smart contracts and decentralized applications. Its features include a formal verification system (proof-of-stake), designed to enable a transparent, democratic stakeholder community. Tezos uses a unique Proof of Stake ('PoS') consensus algorithm called Liquid Proof of Stake ("LPoS"). Like several Proof of Stake algorithms LPoS provides a secure and decentralized protocol for smart contracts to run on. In addition, LPoS provides the Tezos network with a system for accountable governance and a more democratic form of staking and delegation, with less demanding barriers of entry to accommodate and protect all stakeholders.
Tezos boasts a native smart contract language, called Michelson, which facilitates formal verification, a methodology commonly used in mission-critical environments such as the aerospace, nuclear, and semiconductor industries. Michelson also addresses an issue with several larger smart contract platforms by giving developers a variety of syntax options to write their smart contracts, including popular options Python and Pascal.
Additional information on Tezos is available at www.tezos.com
About Graph Blockchain Inc.
The Company is a Proof of Stake ("POS") miner that focuses on altcoins, alternative cryptocurrencies to Bitcoin. Graph is the first publicly tradable altcoin miner and generates revenue through exposure to several top digital assets by market capitalization. By mining altcoins, Graph through its wholly owned subsidiary Babbage Mining Corp., can provide investors with exposure to the vast emerging market of cryptocurrencies with the significant technological disruption and potential gains that altcoins represent.
Additional information on the Company is available at www.graphblockchain.com and www.babbagemining.com
For further information, please contact:
Jamie Hyland
Phone :604.442.2425
Email: jamie@graphblockchain.com
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.
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[1] Source: Cryptocurrency Prices by Market Cap online: CoinMarketCap Accessed May 6, 2021.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83208
