Arcology Network Achieves Major Technical Milestones Toward Potential Coin Offering
VANCOUVER, BC, CANADA (November 25th, 2020) – Codebase Ventures Inc. ("Codebase" or the "Company") (CSE: CODE - FSE: C5B – OTCQB: BKLLF) is excited to announce that the Company’s holding, Arcology, a cluster-computing powered AI blockchain ecosystem with unlimited scalability, is exploring a potential coin offering, following the results of its first Testnet where the Arcology team achieved major product development milestones.
A coin offering is a natural step to add to the Arcology roadmap based on the success of the first Arcology Testnet. Noting that scalability is single biggest obstacle of blockchain based systems, Arcology demonstrated significant capabilities on this front including:
“Arcology is designed as a platform for both public and private blockchains,” says Arcology Founder and CEO, Mr. Laurent Zhang. Arcology’s landscape consists of two independent and standalone platforms named Arcology Network (public) and Arcology Enterprise (private), which based on the same technology core. Arcology Network is a permission-less platform like Bitcoin or Ethereum, while Arcology Enterprise is targeting enterprise users requiring specific privacy features.”
Arcology’s coins are the native currency of the Arcology network, which mediate all the transactions happening on the platform. The Arcology coins serve some key roles for the network to work properly, including:
“As the Arcology team continues to push steadily on the technical side, we are investigating all aspects of a coin offering as a major step in our future,” said Mr. Zhang. “Currently, on our roadmap, we are anticipating that the first coin offering would take place prior to the Mainnet going live in the coming months. We are investigating the most favourable approach, and considering all regulatory requirements toward an offering of between 5% - 10% of planned coins to eligible investors in the first coin offering.”
For more information on Arcology, please visit the website at https://arcology.network/
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.
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