Launching extra 40 nodes, rising whole staked to 7,680 ETH valued at approx. $13.8M
Silver Spring, MD, March 18, 2021 (GLOBE NEWSWIRE) — BTCS Inc. (OTCQB: BTCS) (“BTCS” or the “Firm”), a digital asset and blockchain expertise centered firm, in the present day introduced its lately expanded transaction verification companies operation on ethereum 2.0 is totally operational with all 200 nodes producing income. The Firm expects to launch a further 40 nodes, increasing its staking operation to 240 nodes, with the extra nodes anticipated to start income technology earlier than the tip of March 2021.
$1.1 Million Income Potential from Present Staking Operation
The Firm has staked a complete of seven,680 ETH in its ethereum 2.0 transaction verification companies operation, which has the potential to generate $1.1 million in annual income with gross margins exceeding 95%, in accordance with a third-party calculator (https://beaconscan.com/staking-calculator).
“We initially set a objective of actively producing income from 100 nodes by the tip of March 2021. I’m excited to report that this objective has been exceeded as BTCS is now actively producing income from 200 nodes, and has one other 40 anticipated to come back on-line shortly” said Charles Allen, Chief Govt Officer of BTCS.
Increasing Transaction Verification Companies Enterprise
Allen continued, “We plan to scale up our transaction verification companies enterprise line to function nodes and safe and validate transactions on different disruptive blockchains that we consider permit for larger income potential than ethereum.”
Staking-as-a-Service Platform Improvement
BTCS is actively exploring improvement of a proprietary staking-as-a-service platform that might allow shoppers to stake and delegate supported cryptocurrencies by way of the Firm’s platform.
“Along with the continued improvement of our proprietary information analytics platform, we plan to develop a singular staking-as-a-service platform that may present extra income progress alternatives as “proof-of-stake” verification protocols change into more and more widespread,” added Allen.
On December 1, 2020, ethereum started transitioning to a “proof-of-stake” protocol, ethereum 2.0. Underneath the “proof-of-stake” consensus algorithm, ETH holders have the unique proper to function validator nodes on the community and confirm transactions, thereby incomes transaction charges for his or her work. BTCS is the primary public firm within the US to run validator nodes on ethereum 2.0.
BTCS is an early entrant within the digital asset market and one of many first U.S. publicly traded corporations centered on digital property and blockchain applied sciences. The Firm by way of its transaction verification companies enterprise actively verifies and validates blockchain transactions and is rewarded with digital property for its work. The Firm can also be growing a proprietary digital asset information analytics platform that enables customers to consolidate their crypto trades from a number of exchanges onto a single platform, enabling customers to view and analyze their efficiency, threat metrics, and potential tax implications. The Firm employs a digital asset treasury technique with a main give attention to disruptive non-security protocol layer property comparable to bitcoin and ethereum. For extra info go to: www.btcs.com.
Sure statements on this press launch, represent “forward-looking statements” inside the that means of the federal securities legal guidelines together with statements concerning our perception concerning the potential income and gross margins from our transaction verification companies enterprise, our plans for our transaction verification companies enterprise, income potential and progress, and plans for a staking-as-a-service platform. Phrases comparable to “might,” “would possibly,” “will,” “ought to,” “consider,” “count on,” “anticipate,” “estimate,” “proceed,” “predict,” “forecast,” “mission,” “plan,” “intend” or related expressions, or statements concerning intent, perception, or present expectations, are forward-looking statements. Whereas the Firm believes these forward-looking statements are affordable, undue reliance shouldn’t be positioned on any such forward-looking statements, that are based mostly on info accessible to us on the date of this launch. These forward-looking statements are based mostly upon present estimates and assumptions and are topic to numerous dangers and uncertainties, together with with out limitation the rewards and prices related to validating transactions on proof-of-stake blockchains, the third-party calculators failure to be correct in its formulation, vital lower in worth of ETH and rewards whereas locked up, loss or theft of the personal withdrawal keys ensuing within the full lack of ETH and reward, in addition to dangers set forth within the Firm’s filings with the Securities and Change Fee together with its Type 10-Ok for the yr ended December 31, 2020. Thus, precise outcomes may very well be materially completely different. The Firm expressly disclaims any obligation to replace or alter statements whether or not on account of new info, future occasions or in any other case, besides as required by regulation.
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