Graph Blockchain Announces Acquisition of Cardano (ADA) for Proof of Stake Mining
Graph Blockchain Inc. is pleased to announce that the Company has deployed capital into another cryptocurrency, Cardano’s native token ADA, for the purpose of staking.
Graph Blockchain Inc. (CSE: GBLC) (OTC Pink: REGRF) (“Graph” or the “Company“) is pleased to announce that the Company has deployed capital into another cryptocurrency, Cardano’s native token ADA, for the purpose of staking.
The Company allocated $300,000 of its staking capital into ADA on March 29, 2021. Additional information will be provided on Cardano (“ADA”) as the project develops and progresses through its development phases.
Paul Haber, CEO of Graph Blockchain Inc. commented, “We are exceptionally excited to be deploying funds into our second token purchase. We anticipate that we will be making further purchases shortly to further tokenize our cash position and diversify our growing crypto portfolio.
“As outlined in previous news releases, Graph believes that in 2021, there is the potential for smart contract platforms to implement solutions to facilitate mass adoption on decentralized blockchains. Cardano is widely believed to be just the project to accomplish this, and Graph is excited to add ADA, to the Company’s list of supported projects.”
In addition, the Company has granted incentive stock options to directors, officers, advisor, and employees of the company to purchase up to 12 million common shares in the capital of the company, pursuant to the stock option plan of the company. The options are exercisable at a price of $0.125 per share and will expire two years from the date of grant.
In 2017 Charles Hoskinson, CEO of IOHK and a cofounder of Ethereum, released a video describing his project, Cardano, on a whiteboard. This video gained Charles, and the Cardano project, a number of dedicated supporters. The number of supporters and level of dedication has only grown since and currently Cardano has one of the strongest followings in the crypto community. Cardano is a proof-of-stake blockchain platform built using peer-reviewed research and true scientific method to address scalability, interoperability, and sustainability. This year, Cardano will be introducing the Goguen era which will provide new natively supported tokens, including the functionality for non-fungible token (“NFT”), smart contract functionality and development tools that give people with no previous technical knowledge the ability to write their own smart contracts.
About Graph Blockchain Inc.
The Company is a blockchain development company that provides high performance blockchain solutions that include graphic data analysis and consulting services, implementation of data mining analysis through the use of graph databases and speed enhancements of blockchain control systems for businesses and government. This includes the Babbage Mining Corp. which will focus on altcoins, alternative cryptocurrencies to Bitcoin. Graph will be the first publicly tradable altcoin Proof of Stake (“POS”) miner, which will generate revenue while providing exposure to several top digital assets by market capitalization.
By mining altcoins through Proof of Stake, Babbage can provide to its investor’s exposure to the vast emerging market of cryptocurrencies with the significant technological disruption and potential gains that altcoins represent.
For further information, please contact:
Forward Looking Statements
This news release contains “forward-looking statements” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. In some cases, forward-looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking statements. Such statements may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events, or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.