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Codebase Ventures says portfolio holding Arcology progressing toward its second Testnet

Under Testnet 1.0, Codebase demonstrated Acrology's compatibility with Ethereum, achieve internal scalability targets, and improved the user experience

CODEBASE VENTURES INC. - Codebase Ventures says its blockchain investment strategy in Arcology is progressing toward its second Testnet
Codebase currently holds a 30% interest in the private company that is developing Arcology, with an option to increase its interest to 51%

Codebase Ventures Inc (CSE:CODE) (FRA:C5B) (OTCQB:BKLLF) has announced an update to its blockchain investment strategy.

In a statement Thursday, the company said its primary blockchain interest is in Arcology, a cluster-computing powered artificial intelligence (AI) blockchain ecosystem with unlimited scalability. 

Arcology is progressing toward its second Testnet and the release of its software development kit as previously announced, Codebase said.

READ: Codebase Ventures says portfolio holding Arcology updates working roadmap in response to positive Testnet results

Codebase said it currently holds a 30% interest in the private company that is developing Arcology, with an option to increase its interest to 51%.

Arcology's landscape consists of two independent and standalone platforms named Arcology Network (public) and Arcology Enterprise (private), which based on the same technology core. Arcology Network is a permission-less platform like Bitcoin or Ethereum, while Arcology Enterprise is targeting enterprise users requiring specific privacy features.

To complement its Arcology investment and expand Codebase’s interests more widely in the blockchain sphere, the company said it is seeking additional blockchain investments which may include bit mining operations as the price of Bitcoin and other cryptocurrencies continue to rise and overall adoption of cryptocurrencies continues to expand.

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

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