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Codebase Ventures showcases successful tests of blockchain subsidiary Acrology

Arcology runs a hierarchical blockchain that uses proprietary algorithms and artificial intelligence to eliminate inefficiencies that hinder rival blockchain platforms

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Codebase Ventures has been an investor in Arcology for around 18 months

Codebase Ventures Inc (CSE:CODE) (OTCQB:BKLLF) announced the success Thursday of a series of blockchain tests of the company’s subsidiary, Arcology.

Arcology runs a hierarchical blockchain that uses proprietary algorithms and artificial intelligence to eliminate inefficiencies that hinder rival blockchain platforms.

The tests showcased that unlike traditional blockchain, Arcology’s technology is compatible with distributed databases. That makes data storage on its blockchain network potentially hundreds of times faster and cheaper

READ: With cryptocurrency riding high, Codebase Ventures sees huge potential in blockchain investment Arcology

"Efficient, accurate and trustworthy data storage is central to all blockchain technologies, but even today's fastest blockchains underperform when compared to centralized systems," Acrology President Laurent Zhang said. "This is largely due to certain restrictions in data handling. Arcology's first-of-its-kind architecture breaks down these barriers, allowing us to employ distributed databases to process and store transactions at rates unseen elsewhere."

Codebase Ventures has been an investor in Arcology for around 18 months. The Vancouver-based company is focused on investing in early-stage technology plays with the promise of large shareholder returns.

It's stock remained flat at C$0.4 on the CSE and slipped 0.4% to US$0.3 on OTC Markets.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

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