Silver Spring, MD, March 09, 2022 (GLOBE NEWSWIRE) — BTCS Inc. (Nasdaq: BTCS) (“BTCS” or the “Company”), a blockchain technology-focused company, announces the expansion of its operations to blockchain infrastructure 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 indexed so algorithm on the US dollar.
What is Terra?
Terra was originally founded in 2018 with the goal of creating a more efficient payment solution. Most notably, Terra was developed with the goal of creating a blockchain system with price stability as a means to achieve rapid growth. With this mission at its core, Terra’s native currency LUNA has become known in the industry as a premier governance token through which users can issue stablecoins (such as UST), pay fees on the network and participate in decision-making.
Terra uses the Proof-of-Stake (PoS) consensus algorithm to reach 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 variant of it. Other factors that make Terra attractive to investors include Terra ETFs, as well as various ecosystem solutions across decentralized finance (DeFi), NFTs, and Web3. Additionally, Luna Foundation Guard recently raised $1 billion to establish a Bitcoin-denominated Forex reserve for UST, Terra’s largest stablecoin.
Terra’s end-to-end programmability
Terra’s end-to-end programmable payment solution solves several long-standing problems with fragmented payment systems. Additionally, Terra’s comprehensive model and technology is expected to help payment providers save hundreds of millions of dollars per year.
“Terra’s full programmability has allowed it to be a major contender in the crypto fight to focus on price stabilization. Some of the other recent developments, particularly through DeFi and the recent $1 billion fundraising round by the Luna Guard Foundation, only add to the multitude of Terra resources that the ecosystem provides to the asset world. digital,” said Michael Prevoznik, CFO of BTCS. .
Completed technical work to execute a Earth 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 blockchain validation process includes special intellectual property (IP), technical know-how, and regular maintenance to ensure efficiency. BTCS has staked 3,600 LUNA, in turn, BTCS generates compound rewards. Staking allows users to earn an annual percentage yield (“APY”) on their staked assets, while validator node operators charge fees on rewards from users’ staked assets in addition to earning an APY on crypto staked out. The highly scalable nature of LUNA staking and the ability for users to stake LUNA to earn token rewards is the premise of BTCS’ Staking-as-a-Service platform which is currently under development.
BTCS is an early player in the blockchain and digital currency ecosystem, and America’s first publicly traded “Pure Play” 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 trading table. Data Analytics edge, now in beta. BTCS’ proprietary digital asset data analytics platform currently supports six exchanges and over 800 digital assets, and the company plans to further expand its suite of performance monitoring tools, add additional centralized and decentralized exchanges, as well as wallets and stake pool monitoring. For more information visit: www.btcs.com.
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