Codebase Receives Update from Arcology on Its Amazon Web Services (Aws) Test Results

Rhea-AI Summary

Codebase Ventures Inc. (OTCQB: BKLLF) announced an update on its investment in Arcology, which completed a large-scale test using Amazon Web Services. The test utilized multiple AWS datacenters, clusters, and numerous servers to verify the capabilities of its updated design. Results showed Arcology achieved its internal goals, establishing technical advantages over Ethereum scaling solutions, especially in transaction processing speed. Codebase holds a 30% interest in Arcology, positioning itself in the burgeoning blockchain technology sector.

Positive

• Arcology achieved internal testing goals, showcasing technical advantages over Ethereum scaling solutions.
• Successful large-scale test conducted using multiple AWS datacenters, clusters, and servers.
• Codebase Ventures holds a 30% interest in Arcology, benefiting from its advancements.

Negative

• None.

Arcology Network Advancing Development with Large-Scale Test on Amazon Web Services

VANCOUVER, BC / ACCESSWIRE / November 23, 2021 / Codebase Ventures Inc. ("Codebase" or the "Company") (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is pleased to announce that the Mr. Laurent Zhang, Founder and President of Arcology, in which CODE has an investment, has provided an update on Arcology's progress.

Arcology designed and completed a large-scale test to verify the capabilities of the updated design, which was announced previously. The testing included:

• Multiple AWS datacenters
• 4 clusters
• 92 servers
• 944 Processor cores

Based on the analysis of the raw test data, the test achieved internal goals, establishing technical advantages against all Ethereum scaling solutions, achieving promising results both in terms of compatibility and transaction processing speed.

"Arcology Is designed to solve the scalability issues, demonstrating the ability to work with multiple machines sharing the workload. This test has further demonstrated our technical advantages and it is an important step forward toward for Arcology's development," said Mr. Zhang.

Codebase Ventures Inc. has a 30% interest in Arcology.

About Codebase Ventures Inc.

Codebase Ventures Inc. seeks early-stage investments in emerging technology sectors, including the blockchain ecosystem and fintech. The Company identifies such opportunities and applies its relationships and capital to advance its interests.

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", "may" 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, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company's business, financial condition and results of operations, lack of investor demand for Bitcoin and/or Bitcoin futures exchange traded funds, 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.

View source version on accesswire.com:
https://www.accesswire.com/674211/Codebase-Receives-Update-from-Arcology-on-Its-Amazon-Web-Services-Aws-Test-Results

FAQ

What are the results of Codebase Ventures' investment in Arcology?

Arcology completed a successful large-scale test on Amazon Web Services, showing technical advantages over Ethereum.

What is the significance of the AWS test for Arcology?

The AWS test demonstrated Arcology's capability to handle scalability issues, achieving promising transaction speeds.

How much stake does Codebase Ventures have in Arcology?

Codebase Ventures holds a 30% interest in Arcology.

What technology does Arcology aim to improve?

Arcology is focused on improving scalability issues in blockchain technology.