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Silver Spring, MD, Aug. 11, 2021 (GLOBE NEWSWIRE) -- BTCS Inc. (OTCQB: BTCS) (“BTCS” or the “Company”), a blockchain technology focused company, announced it has added Tezos (“XTZ”) to its blockchain infrastructure operations. Founded in 2014, XTZ is a decentralized blockchain designed for smart contracts and decentralized applications (“DApps”). XTZ has a $2.75 billion market cap making it the number 45th ranked cryptocurrency. It raised $232 million in 2017 in what was considered one of the largest offerings at the time.
XTZ’s governance mechanism allows users to vote through a Liquid Proof-of-Stake (“LPoS”) consensus mechanism called “baking”. Users either become bakers or delegate XTZ, the native token of Tezos, to other bakers to earn newly-minted XTZ rewards from the protocol. To get started, BTCS has deployed its own XTZ baker nodes. There are over 400 bakers currently securing the network, and 135 projects building on XTZ, ranging from dApps to Decentralized Finance (“DeFi”) to Non-Fungible Tokens (“NFTs”).
“As a fully-decentralized project, the compilation of independent developer team visions can prove unique,” stated Charles Allen, Chief Executive Officer of BTCS. “We intend to include Tezos in our Staking-as-a-Service platform.”
BTCS is an early mover in the blockchain and digital currency 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 platform that allows users to consolidate their crypto trades from multiple exchanges onto a single platform, enabling users to view and analyze their performance, risk metrics, and potential tax implications. 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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