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 $9.5-billion payments-focused, decentralized network that enables processing speeds of 1,000 transactions per second (“TPS”) and achieves block finality in less than five seconds.
“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.
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.
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