Arcology Launches Testing of Ethereum Applications

Arcology to Demonstrate Its Advantages with Utilizing One of the Most Successful Games on Ethereum

VANCOUVER, BC / ACCESSWIRE / February 19, 2020 / Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF), an investment company, is pleased to announce that the Arcology technical team is launching its comprehensive testing of the high profile Ethereum game called CryptoKitties on its own internal testnet.

CryptoKitties is a very well-known game that runs on the Ethereum network, and which has caused serious network congestions because of its transaction volume. Using this example to illustrate Arcology’s speed and scalability provides a purposeful comparison and validation of the platform’s capabilities.

Multiple blockchain technology projects have endeavoured to solve the scalability issue with different approaches with no demonstrated, major success to date. Arcology has a very unique solution to address that problem, featuring the following capabilities:

  • Arcology allows multiple transactions to be processed in parallel
  • Transaction processing can scale up linearly based upon number of computers available
  • Fully compatible with Ethereum platform
  • Popular Ethereum applications like CryptoKitties can work on Arcology smoothly
  • Ethereum developers can start to work on Arcology right away
  • Minimized migration costs

The purpose of this test is to demonstrate Arcology’s technical advantages, scalability and transaction per second speed.

“CryptoKitties was the major event within the whole blockchain industry when the overall challenge of scalability became evident. This Arcology test serves as a showcase, with the goal of demonstrating Arcology’s technical superiority. It is an internal test, a prelude for our public benchmarking and demonstration in the near future,” said Mr. Laurent Zhang, President of Arcology.

About Codebase Ventures Inc.

Codebase Ventures Inc. is an investment company, led by technology and business experts who invest early in great ideas in sectors that have significant upside, including the cannabis sector. We operate from the understanding that technology is always evolving, bringing early opportunities for strategic investments that can deliver the exponential returns to our shareholders. We seek out and empower the innovators who are building tomorrow’s standards with platforms, protocols and innovations – not just products. We invest early, support those founders, take their ideas to market and work tirelessly to help them realize their vision.

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.

For further information, please contact:

George Tsafalas or Ivy Lu

Investor Relations

Telephone: 1 (778) 806-5150

E-mail: IR@codebase.ventures

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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