Cosmos Now Supported By BTCS Blockchain Infrastructure Operations

Rhea-AI Summary

BTCS Inc. (Nasdaq: BTCS) is enhancing its blockchain infrastructure with the addition of Cosmos, a $7 billion interoperable blockchain platform. The Company has deployed a validator node on Cosmos, which is already generating revenue. Cosmos connects over 30 public chains and 250 decentralized applications, promoting scalability and interoperability among blockchains. BTCS aims to capitalize on Cosmos's potential for liquidity and security. The Company is also advancing its Staking-as-a-Service platform and a digital asset data analytics tool for improved trading analysis.

Positive

• Deployment of a Cosmos validator node, generating revenue.
• Cosmos has strong potential with over 30 public chains and 250 applications.
• Focus on enhancing liquidity and security within the validator business.

Negative

• Forward-looking statements indicate uncertainty about revenue generation and potential risks associated with digital asset validation.
• Risks of significant decrease in digital asset value and possible loss of assets.

Over 250 apps and services are built on Cosmos

Silver Spring, MD, Oct. 19, 2021 (GLOBE NEWSWIRE) -- BTCS Inc. (Nasdaq: BTCS) (“BTCS” or the “Company”), a blockchain technology focused company, today announced the ongoing expansion its blockchain infrastructure segment with the addition of Cosmos, a $7 billion interoperable blockchain platform that connects large numbers of independent blockchains within the Cosmos network. BTCS has deployed its own node which is generating revenue by validating transactions on the Cosmos blockchain.

Cosmos was designed to provide an easy to build upon blockchain capable of handling large numbers of transactions while effectively connecting with other blockchains – creating an Internet of Blockchains – a network of blockchains capable of scaling and communicating with each other in a decentralized manner.

“With a clear roadmap focused on liquidity and security, Cosmos is a great addition to our rapidly-evolving validator business,” stated Charles Allen, Chief Executive Officer of BTCS.

“Currently, more than 30 enterprise-grade public chains are part of the Cosmos ecosystem – projects such as Terra, Crypto.com, OKB, as well as more than 250 Decentralized Applications,” added Michal Handerhan, Chief Operating Officer of BTCS. “Combined with its interoperable communication layer between different blockchain networks and its ability to replicate other blockchains, Cosmos in our view has significant long-term potential.”

About BTCS:

BTCS is an early mover in the blockchain and digital currency 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 platform that allows users to consolidate their crypto trades from multiple exchanges onto a single platform, enabling users to view and analyze their performance, risk metrics, and potential tax implications. 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.

Forward-Looking Statements:

Certain statements in this press release, constitute “forward-looking statements” within the meaning of the federal securities laws including statements regarding our belief regarding generating revenue from running a Cosmos validator node and the promising future from utilizing the Cosmos blockchain. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation the rewards and costs associated with validating transactions on Cosmos’ blockchain, significant decrease in value of our digital assets and rewards while locked up, loss or theft of the private withdrawal keys resulting in the complete loss of digital assets and reward, as well as risks set forth in the Company’s filings with the Securities and Exchange Commission including its Form 10-K for the year ended December 31, 2020. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Investor Relations:
Dave Gentry
RedChip Companies, Inc.
Phone: (407) 491-4498
dave@redchip.com

FAQ

What is BTCS's recent development with Cosmos?

BTCS has deployed a validator node on the Cosmos blockchain, generating revenue and expanding its blockchain infrastructure.

How many public chains are part of the Cosmos ecosystem?

More than 30 enterprise-grade public chains are included in the Cosmos ecosystem.

What is the estimated market value of Cosmos?

Cosmos is valued at approximately $7 billion.

What services is BTCS focusing on with the new Cosmos integration?

BTCS is enhancing its validator business, focusing on liquidity and security.

What risks are associated with BTCS's Cosmos initiative?

There are risks related to revenue generation, digital asset value fluctuations, and potential losses.