Graph Blockchain To Focus On Altcoin Mining Using Proof Of Stake

Graph Blockchain (CSE: GBLC) this morning announced that it will be leveraging proof of stake mining. The announcement will see the company become the first publicly traded altcoin proof of stake miner, providing exposure to alternative digital currencies that still consist of some of the top currencies by market capitalization in the field.

The mining, which is to occur through the recently acquired Babbage Mining Corp, will place the company in a space that to date has been underserved by public market operators. The company is currently in negotiations with several leading digital currency exchanges in which it will deploy capital into altcoins using proof of stake.

Proof of stake, as per the company, “asserts that one can mine or validate block transactions according to how many coins you hold.” In short, this means that the more altcoins owned by a miner, the larger the mining capacity of the miner. As such, its essential that the company rapidly gains exposure to such altcoins that it intends to mine that operate under a proof of stake concept.

“There has been a strong amount of support and enthusiasm from shareholders and I’m incredibly pleased that the market understands and appreciates the path we have chosen. We will continue to provide shareholder value and look forward to growing our exposure to the cryptocurrency and Blockchain markets.”

Andrew Ryu, CEO of Graph Blockchain

Graph Blockchain last traded at $0.35 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

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Silver47 Completes Property-Wide Geochemical, Rock Sampling Program At Adams Plateau, Identifies Numerous Targets

Altamira Gold Identifies Presence Of Second Mineralized Porphyry Body At Cajueiro

Related News

Graph Blockchain Invests In LINK For Proof Of Stake Mining

Graph Blockchain (CSE: GBLC) issued a very brief press release this morning, revealing the final...

Thursday, April 8, 2021, 07:18:32 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

Major Russian Bank Set to Launch its own Stablecoin in 2021

A number of central banks around the world have been mulling the use of digital...

Monday, January 25, 2021, 11:51:00 AM

PayPal Purchasing Crypto Security Company Curv to Further its Move Into Digital Currencies

In a bid to further its cryptocurrency exposure, PayPal announced it will be acquiring digital...

Wednesday, March 10, 2021, 05:26:00 PM

Shoom Street to Be Acquired By Graph Blockchain

Psychedelics are going main stream. This morning, Graph Blockchain (CSE: GBLC) announced that it signed...

Wednesday, November 20, 2019, 09:28:02 AM