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Arcology Updates Roadmap Building on Testnet 1.0 Results

Wednesday, December 2, 2020 3:01 AM
Codebase Ventures Inc.

Achievements with Scalability and Compatibility Pave Way for Next Phase of Advancement

VANCOUVER, BC / ACCESSWIRE / December 2, 2020 / Codebase Ventures Inc. ("Codebase" or the "Company") (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is excited to announce that the Company's holding, Arcology, a cluster-computing powered AI blockchain ecosystem with unlimited scalability, has updated its working roadmap in response to its Testnet 1.0 results.

"Building on Arcology Testnet 1.0, where we demonstrated compatibility with Ethereum, achieved our internal scalability targets and improved the user experience, we have updated our working roadmap to advance the technology," says Arcology Founder and CEO, Mr. Laurent Zhang.

Arcology Working Roadmap Sequence:

  • Current phase - address results from Testnet 1.0, refine technical components to improve performance data
  • Conduct Testnet 2.0 - focus on stability, user experience and verification
  • Potential coin offering
  • Conduct Full Scale Testnet
  • Release Mainnet

Arcology's development is now focused on Testnet 2.0, which the company anticipates will be completed within 10-12 weeks. "This is an exciting and crucial time in Arcology's development, having demonstrated scalability we will be stress testing, striving to improve the user experience and preparing for third party testing and verification, and further assessing potential revenue models for Arcology Network (public blockchain) and Arcology Enterprise (private blockchain) for the long-term," said Mr. Zhang.

For more information on Arcology, please visit the website at

About Codebase Ventures Inc.

Codebase Ventures Inc. invests early in great ideas in sectors that have significant upside. We seek the innovators who are establishing tomorrow's standards. We invest early, supporting those innovators, helping to take their ideas to market.

For further information, please contact:

George Tsafalas - Ivy Lu
Investor Relations
Telephone: Toll-Free (877) 806-CODE (2633) or 1 (778) 806-5150
E-mail: [email protected]

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

SOURCE: Codebase Ventures Inc.

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