BTCS Adds Algorand to its Blockchain Infrastructure Operations
BTCS (Nasdaq: BTCS) has expanded its infrastructure staking operations by incorporating Algorand (ALGO), a decentralized network valued at $9.5 billion. ALGO facilitates up to 1,000 transactions per second and achieves block finality in under five seconds. BTCS will generate revenue by receiving additional ALGO tokens, enhanced by a proprietary script for daily compounding. The ALGO Foundation’s roadmap, extending to 2030, emphasizes ecosystem support and governance. BTCS is a pioneering blockchain firm focusing on staking and digital asset analytics.
- Integration of Algorand (ALGO) into staking operations expected to bolster revenue.
- Potential for revenue generation through compounding rewards from ALGO.
- Algorand's strong ecosystem support, with over 500 global organizations leveraging its technology.
- None.
Silver Spring, MD, Jan. 13, 2022 (GLOBE NEWSWIRE) -- BTCS Inc. (Nasdaq: BTCS) (“BTCS” or the “Company”), a blockchain technology-focused company, announces it has added Algorand (“ALGO”) to its infrastructure staking operations. Algorand’s blockchain features asset development, atomic swaps and smart contract execution. BTCS earns revenue by being rewarded with additional tokens. The Company has also deployed a proprietary script to compound its rewards daily.
Launched in 2019 by Turing Award-winning MIT professor and computer scientist, Silvio Micali, ALGO is an
“More than 500 global organizations leverage Algorand’s technology – from university partners (MIT, UC Berkeley, Peking University), to ecosystem players (Orion Protocol, Chainalysis, Hummingbot), to key stakeholders (Union Square Ventures, Cumberland Advisors), to government enterprises (Marshall Islands). Given this, we believe ALGO is a great addition to our blockchain infrastructure efforts,” stated Michal Handerhan, Chief Operating Officer of BTCS.
“The ALGO Foundation proposed a roadmap going out as far as 2030 focusing on ecosystem support, community incentives and decentralized governance. We look forward to monitoring its developments over the years,” said Mr. Handerhan.
About BTCS:
Nasdaq-listed BTCS is an early mover in the blockchain and digital asset ecosystem, and the first "Pure Play" U.S. publicly traded company focused on blockchain infrastructure and technology. Through its blockchain infrastructure operations, the Company secures Proof-of-Stake blockchains by actively processing and validating blockchain transactions and is rewarded with native digital tokens. The Company is developing a proprietary Staking-as-a-Service platform to allow users to stake and delegate supported cryptocurrencies through a non-custodial platform. The Company is also developing a proprietary digital asset data analytics dashboard that allows users to evaluate their crypto portfolio from across multiple exchanges and wallets in a single place, with plans to add staking as a service functionality in the future. The Company employs a digital asset treasury strategy with a primary focus on disruptive non-security protocol layer assets. For more information visit: www.btcs.com.
Investor Relations:
Dave Gentry
RedChip Companies, Inc.
Phone: (407) 491-4498
dave@redchip.com
Public Relations:
Mercy Chikowore
m.chikowore@btcs.com
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