Arcology’s Announces that Its Version of Ethereum-Based CryptoKitties Game Outperforms by 1000 to One

Rhea-AI Summary

Codebase Ventures Inc. (OTCQB: BKLLF) announced that Arcology has launched an improved version of CryptoKitties, surpassing the original's performance by a factor of 1,000. The game achieved 30,000 transactions per second (TPS) compared to Ethereum’s 15-20 TPS. Arcology aims to capture market share from Ethereum through enhanced blockchain capabilities, leveraging AI and adaptive learning. Codebase holds a 30% stake in Arcology with an option to increase to 51%. The release signifies a significant advancement in blockchain technology.

Positive

• Arcology's improved CryptoKitties achieved 30,000 TPS, significantly outperforming Ethereum's 15-20 TPS.
• Demonstrated ability to process a large volume of transactions (2.5 million) from five million user accounts.
• Codebase Ventures owns 30% of Arcology, with potential to increase to 51%, enhancing investment value.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / February 23, 2021 / Codebase Ventures Inc. ("Codebase" or the "Company") (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is pleased to announce that Arcology has released its improved version of CryptoKitties, the most popular game on the Ethereum blockchain.

The game has been optimized to take advantage of Arcology's processing power and native ability to dynamically adjust to network demands. To simulate approximately nine months of gameplay, Zhang's team created five million user accounts that generated 2.5 million transactions running on 32 Ethereum Virtual Machines, or EVMs.

Laurent Zhang, Arcology's President and Founder has announced that the game outperformed the original Ethereum-based CryptoKitties by a factor of 1,000-to-one.

"We've proven that, with relatively minor modifications to their source code, Ethereum-based applications can be optimized for greater speed on our blockchain," says Laurent Zhang, Arcology's founder and lead scientist. "This is just the first of several planned demonstrations of Arcology's capabilities."

When CryptoKitties debuted in 2017, its popularity congested the Ethereum network significantly, causing noticeable slowdowns that reduced performance for all other applications running on the network. Ethereum's transaction fees are also seen to increase dramatically during network surges. Arcology solves these problems by using artificial intelligence and adaptive learning to run a blockchain that's faster, more powerful and more flexible.

In this demonstration, Arcology's game posted 30,000 transactions per second (TPS). By way of contrast, Ethereum's original network handles just 15 to 20 transactions per second. The long-awaited Ethereum 2.0 - now, not expected until 2022 - is forecast to process at most 3,000 transactions per second.

Following on the successful deployment of Testnet 2.0, the release of Arcology's LightspeedKitties represents significant progress toward Arcology's goal of capturing market share from Ethereum, the world's largest smart contract-based blockchain.

Codebase currently owns 30% of Arcology, with an option to increase its ownership to 51%.

Arcology's public github code (previously announced) can be reached via Arcology's website, https://arcology.network. Arcology's LightspeedKitties sourcecode is publicly viewable within this repository.

Qualified developers are invited to run their own instances of on the Arcology testnet to see the performance benefits first-hand. For security purposes, access is by invitation only at this time. Interested parties are asked to contact ir@codebase.ventures and provide relevant professional credentials.

For more information, visit Codebase Venture Inc.'s website, https://www.codebase.ventures/.

Arcology is a cluster-computing powered AI blockchain ecosystem with unlimited scalability.

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.

For further information, please contact:

George Tsafalas - Ivy Lu
Investor Relations
Telephone: Toll-Free (877) 806-CODE (2633) or 1 (778) 806-5150
E-mail: IR@codebase.ventures

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.

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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FAQ

What is the performance of Arcology's CryptoKitties compared to the original?

Arcology's version of CryptoKitties outperformed the original by a factor of 1,000, achieving 30,000 transactions per second.

What blockchain technology does Arcology use?

Arcology uses AI and adaptive learning to enhance blockchain speed and flexibility, significantly outperforming Ethereum.

What stake does Codebase Ventures have in Arcology?

Codebase Ventures currently owns 30% of Arcology and has the option to increase ownership to 51%.

When was the press release regarding CryptoKitties issued?

The press release was issued on February 23, 2021.

What are the implications of Arcology's performance for Ethereum?

Arcology's performance may impact Ethereum's market share by offering a faster and more efficient alternative for blockchain applications.