BTCS Adds Terra to its Growing Blockchain Infrastructure Operations
March 09 2022 - 8:31AM
BTCS Inc. (Nasdaq: BTCS) (“BTCS” or the “Company”), a blockchain
technology-focused company, announces the expansion of its
blockchain infrastructure operations with Terra, a $31 billion
public blockchain platform offering programmable money that allows
users to easily trade stablecoins at fast speeds, such as UST,
which is algorithmically pegged to the U.S. Dollar.
What is Terra?
Terra was initially founded in 2018 as part of a
goal to create a more efficient payment solution. More
particularly, Terra was developed with the goal of creating a
blockchain system with price stability as a means to achieve rapid
growth. With that mission at its core, Terra’s native currency,
LUNA, has become known throughout the industry as a leading
governance token through which users can issue stablecoins (such as
UST), pay fees on the network, and participate in decision
making.
Terra utilizes the Proof-of-Stake (PoS)
consensus algorithm to achieve agreement for transactions on the
blockchain. Many second and third generation blockchain systems
such as Algorand, Solana, and Ethereum 2.0 have integrated PoS or a
hybrid variation of it. Other factors that make Terra attractive to
investors include Terra ETFs, as well as the ecosystem’s various
solutions across Decentralized Finance (DeFi), NFTs, and Web3.
Additionally, Luna Foundation Guard has recently raised $1 billion
to establish a Bitcoin-denominated Forex Reserve for UST, Terra’s
biggest stablecoin.
Terra’s End-to-End Programmability
Terra’s end-to-end, programmable payment
solution addresses several longstanding issues of fragmented
payment systems. Furthermore, Terra’s comprehensive model and
technology should help payment providers save hundreds of millions
of dollars a year.
“Terra’s full programmability has allowed it to
be a major contender in crypto’s fight to focus on price
stabilization. Some of the other recent developments, particularly
across DeFi and the recent $1 billion raise by Luna Guard
Foundation, are just adding to Terra’s multitude of resources the
ecosystem delivers to the world of digital assets,” Michael
Prevoznik, Chief Financial Officer of BTCS, said.
Technical Work Completed to Run a
Terra Validator Node
BTCS has completed the technical work to run a
Terra validator node and included it in its planned
Staking-as-a-Service platform. The process of blockchain validation
includes special intellectual property (IP), technical know-how,
and regular maintenance to ensure efficiency. BTCS has staked 3,600
LUNA, in turn, BTCS is generating compounding rewards. Staking
allows users to generate an annual percentage yield (“APY”) on
their staked assets whereas validator node operators charge a fee
on users’ staked asset rewards in addition to earning an APY on
staked crypto. The highly scalable nature of both staking LUNA as
well as allowing users to stake LUNA to earn token rewards is the
premise behind BTCS’ Staking-as-a-Service platform that is
currently being developed.
About BTCS: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, which it plans to integrate with
its Data Analytics Dashboard, now in beta release. BTCS’
proprietary digital asset data analytics platform currently
supports six exchanges and over 800 digital assets, and the Company
plans to further broaden its suite of performance-tracking tools,
add additional centralized and decentralized exchanges, as well as
wallets, and stake pool monitoring. For more information visit:
www.btcs.com.
Investor Relations:Dave GentryRedChip Companies, Inc.Phone:
(407) 491-4498dave@redchip.com
Public Relations: Mercy Chikoworem.chikowore@btcs.com
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