Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE:CODE, FSE:C5B, OTCQB:BKLLF), an investment company, today announces that subsidiary Arcology has surpassed previous performance benchmarks. Tests of the Arcology network this week show a 16% increase in transactions per second, or TPS, a key metric of blockchain performance.
These latest tests were performed on Arcology version 0.2.2. – the first version built on a fully evolved microservices architecture. The primary goal of this test was to look for design-level flaws in the system workflows. Transaction speeds reached 46,483, up from 40,000 as previously announced.
Test Result Highlights:
- 16% increase in transactions per second on latest Arcology network testing
- Transaction speeds increase to 46,483 from 40,000 per second
- Goal is to achieve 100,000 transactions per second in the next integration test this fall
“We are thrilled with these results,” said Laurent Zhang, Arcology’s Founder and President. “They validate our decision to integrate microservices into the Arcology network architecture. We’re targeting 100,000 transactions-per-second in the next integration test, which is expected in the coming weeks.”
“Microservices” allow participating nodes to divide and distribute tasks into individual modules, optimizing performance according to the network’s demands. By dedicating processing power to network tasks that are in high demand, participants can maximize rewards for maintaining the distributed ledger. This flexibility also increases overall network speed.
“Because blockchain’s base code is resistant to change, some critics claim it’s non-agile. Nothing could be further from the truth,” said Zhang. “At Arcology, we’re building highly adaptable frameworks that are designed to react rapidly to network demands. Blockchains that fail to adapt in this manner will not be able to compete.”
Unmatched transaction speed, greater scale and lower costs comprise Arcology’s primary value propositions as a next generation blockchain platform.
“We are continually impressed by Laurent’s team and the quick pace of their development,” said Brian Keane, a Codebase director. “In the next few weeks, we look forward to the publication of the Arcology white paper and even more impressive test results.”
About Codebase Ventures Inc.
The Company’s mission is to make strategic investments in emerging sectors and markets, including cannabis and technologies such as blockchain and cryptocurrencies, where innovative business models and technologies have the potential to be transformative and deliver the greatest value to shareholders.
Codebase Ventures Inc. is a hands-on team of entrepreneurial and technology experts who invest early in great ideas. The Company operates from the understanding that emerging sectors including cannabis and technology are evolving rapidly, bringing early opportunities for strategic investments that can deliver the exponential returns to shareholders.
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.
For further information, please contact:
Brian Keane, Director
Telephone: 1 (778) 806-5150 – TOLL FREE (877) 806-CODE (2633)
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.
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