Codebase Ventures Inc. (OTCQB: BKLLF) (CSE: CODE) (FSE: C5B), a publicly-traded company building a portfolio of assets in sectors with significant upside, including its ownership in Arcology, a next-generation Artificial Intelligence (AI) blockchain ecosystem with proven scalability and speed, continues to announce one success after another in the development of the cluster-computing ecosystem. With each success, Arcology is making significant progress in its goal to capture market share from Ethereum.
Ethereum is a decentralized, open source blockchain featuring smart contract functionality. Ether is the native cryptocurrency of the platform, and it’s the second-largest cryptocurrency by market capitalization, after Bitcoin. Ethereum is also the most actively used blockchain, but Arcology is out to prove that it is the better blockchain option.
This week, Codebase Ventures announced that Arcology released its improved version of the game, “CryptoKitties.” If you’re not familiar with the game, CryptoKitties is the most popular game on the Ethereum blockchain, and this week’s news pointed out that Arcology’s improved version of the game outperformed the original Ethereum-based CryptoKitties by a factor of 1,000 to 1.
According to Codebase Ventures, it was the obvious next step as Arcology needed to demonstrate its advantages over Ethereum using real-world products. So, with the release of Arcology’s improved version of CryptoKitties, Laurent Zhang, the Founder and President of Arcology, and his team proved that it has, in fact, enhanced the original CryptoKitties code to run more quickly on Arcology by taking advantage of Arcology’s processing power and native ability to dynamically adjust to network demands.
Stock Market Media Group, a news and media IR firm, caught up with Codebase Ventures Inc.’s Chief Executive Officer, George Tsafalas, to better understand the company’s interest in Arcology and its true value to the industry.
SMMG: Arcology, is one of your key investments, and as a company developing a cluster-computing powered AI blockchain ecosystem, what does Arcology’s ecosystem offer the blockchain industry?
George Tsafalas: “Arcology was envisioned as a faster, less expensive, and more scalable competitor to Ethereum. And that’s precisely what Laurent Zhang is building.
“We intend to launch a development ecosystem that offers app developers a better place to build and host their products. Whether they’ve got Decentralized Finance (DeFi) apps, games or enterprise products—every developer who’s looking for a fast, scalable platform will find their home on Arcology.”
SMMG: After deploying versions 1.0 and 2.0 of Arcology’s “testnet,” what did you learn from the results?
George Tsafalas: “The purpose of any ‘testnet’ is to prove out one’s assumptions. Does the technology perform as expected, and can we expect the technology to scale? The answer was yes. Arcology’s testnet delivered the results we wanted to see, including high transaction-per-second, stable performance, and plenty of room to grow.
“We recently announced testnet 2.0, which furthers the positive findings from testnet 1.0 announced in December. We’ve got speed, stability and a clear path to scale.”
SMMG: Arcology will soon release the first version of its software development kit. Can you explain in laymen’s terms what the SDK is and how the company’s SDK can help separate Arcology from the competition?
George Tsafalas: “Think of an SDK, or software development kit, as a combination of user manual and toolkit for building applications on a certain platform. It helps programmers integrate the platform into their own applications or host their applications on the platform.
“The Arcology SDK gives developers the tools to modify their Ethereum-based code to take advantage of Arcology’s faster speeds and scalability. It’s a significant competitive advantage because we’re not asking app developers to completely rewrite their code, which is time consuming and expensive. Instead, we’re giving them everything they need to adapt their own apps to make use of Arcology’s unique features.”
SMMG: Given the Testnet 1.0 and 2.0 results and the SDK release, what is the roadmap ahead to advance the technology?
George Tsafalas: “In the coming months, we plan to invite outside developers to adapt their code for Arcology, audit their apps’ performance and publish the results. Once we’ve hammered out any bugs and fine-tuned the platform, we expect to launch the public platform later in the year.”
Additionally, during Arcology’s demonstration of its improved version of CryptoKitties, Arcology’s game posted 30,000 transactions per second (TPS). In contrast, Ethereum’s original network handles just 15 to 20 transactions per second. The long-awaited Ethereum 2.0, which is now not expected until 2022, is forecast to process, at most, 3,000 transactions per second.
Laurent Zhang said of the demonstration’s success, “We’ve proven that, with relatively minor modifications to their source code, Ethereum-based applications can be optimized for greater speed on our blockchain. This is just the first of several planned demonstrations of Arcology’s capabilities.”
Arcology is solving the problems seen on Ethereum with the popular original version of CryptoKitties by using artificial intelligence and adaptive learning to run a blockchain that’s faster, more powerful and more flexible. Codebase Ventures currently owns 30% of Arcology, with an option to increase its ownership to 51%. To learn more about Codebase Ventures Inc., visit: https://codebase.ventures
About Codebase Ventures Inc. Codebase Ventures Inc. seeks early-stage investments in sectors that have significant upside. The company looks for innovators who are establishing tomorrow’s standards. Codebase Ventures supports those innovators and helps bring their ideas to market.
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