Graph Blockchain Expands Proof Of Stake Mining To Include Tezos

Graph Blockchain (CSE: GBLC) has expanded its portfolio of alt coins for the purpose of proof of stake mining. The company this morning announced that it has diversified its operations to include the altcoin Tezo, also known as XTZ.

The company indicated that it has acquired a total of 100,000 tokens of the altcoin in a transaction valued at US$670,967. The company has since begun staking of its full allocation through the use of Coinbase. The company has reportedly seen the value of the position increase by 17.86% since taking the initial position two days ago.

The company currently expects to earn a staking reward with an annual reward rate of 4.63%, which is subject to change based on market conditions.

“We believe Tezos’ consensus algorithm and general approach to the crypto community will help it acquire a significant portion of the smart contract platform market share, and therefore significant price appreciation. Its Liquid Proof of Stake technology is more decentralized, more scalable, and considerably more sustainable than Proof of Work networks.”

Paul Haber, CEO of Graph Blockchain

Graph Blockchain last traded at $0.13 on the CSE.


FULL DISCLOSURE: Graph Blockchain is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Graph Blockchain on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Gold is Up 30%, But the Real Bull Market is Only Starting Now! | Adrian Day

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

Graph Blockchain Places Further $2.0 Million Into Altcoins For Proof Of Stake

Graph Blockchain (CSE: GBLC) this morning issued a brief news release, indicating that it has...

Tuesday, April 6, 2021, 07:30:43 AM

Graph Blockchain To Raise $10 Million From Institutions

Graph Blockchain (CSE: GBLC) last night announced that it will be conducting a private placement...

Wednesday, March 24, 2021, 09:09:44 AM

Graph Blockchain Identifies Cardano, Polkdadot As First Altcoins For Staking

Graph Blockchain (TSXV: GBLC) has further outlined its altcoin cryptocurrency purchase and staking strategy. The...

Wednesday, March 10, 2021, 09:09:47 AM

Graph Blockchain Completes Acquisition Of Babbage Mining

Graph Blockchain (CSE: GBLC) this morning closed the acquisition of Babbage Mining Corp. The firm...

Wednesday, February 17, 2021, 10:33:27 AM

Graph Blockchain Launches First Publicly Traded NFT Platform

Graph Blockchain (CSE: GBLC) this morning announced the launch of its NFT marketplace and augmented...

Friday, October 15, 2021, 08:04:07 AM