Tickers: XTSX:KASH
Tags: Blockchain, Technology
Vancouver, BC / TheNewswire / May 22, 2018 - HashChain Technology Inc. (TSXV: KASH; OTCQB: HSSHF) ("HashChain" or the "Company") today announced the acquisition of NodeMonitor.io, a service that tracks and monitors incentivized blockchains using Masternodes as a component to verify transactions. The acquired assets, including the online domain, brand, and source code for the monitor application, further expand on the Company's vision to build their Dash cryptocurrency hosting service to include other incentivized blockchains. The acquisition is expected to have a negligible effect on the Company's financials for the fiscal year 2018.
HashChain acquired Hosting, a Dash Masternode hosting service, as part of the purchase of all of the assets of NODE40 on January 30, 2018. The solution frees cryptocurrency investors from the technical hurdles and time investment needed to run Dash Masternodes, which require a 1,000 Dash collateral, and an ability to operate on the network 24 hours a day without exceeding a one-hour connection loss. Dash Masternodes are full blockchain nodes that provide faster and more secure transaction verification with "InstantSend" and "PrivateSend", as well as voting rights on budget allocation for the currency. Holders are paid 45% of the monthly block reward as an incentive for providing these services to the network.
Many existing users of Hosting have invested in incentivized blockchains beyond Dash. With the acquisition of NodeMonitor.io, HashChain secures the framework to host and monitor more than ten additional incentivized blockchains including Dinero (DIN), Bulwark (BWK), Exus (EXUS), Alqo (ALQO), and Proton (PROTON).
"Our commitment to supporting additional incentivized blockchains, informed our purchase of the largest Dash Masternode hosting company," said Patrick Gray, CEO of HashChain. "This agreement further demonstrates HashChain's dedication to growing and optimizing all revenue streams for the Company, including our additional recent Rig purchases for our mining operations, expanded exchange support for the cryptocurrency accounting software, and now our Masternode Hosting service."
As part of the acquisition, NodeMonitor developer Thiago Kroger will join HashChain in a consultancy capacity and bring his industry expertise in interacting with blockchain applications to speed integration and expand hosting services to other Masternodes.
About HashChain Technology Inc.
HashChain is a blockchain company, and the first publicly traded (TSXV:KASH; OTCQB: HSSHF) Canadian cryptocurrency mining company to file a final prospectus supporting highly scalable and flexible mining operations across all major cryptocurrencies. HashChain taps low-cost North American power, cool climate and high-speed Internet: the trifecta most critical to mining success, to create a competitive position for maximizing the number of mining 'wins.' HashChain currently operates 100 DASH mining Rigs, 1,770 Bitcoin Rigs, and has received an additional 3,000 Rigs. Once all Rigs are operational HashChain will be consuming approximately 7 megawatts of power. HashChain also acquired two Dash Masternodes, which requires a collateral investment of 1,000 DASH coins for each Masternode. Diversifying its business strategy beyond crypto mining, the Company recently acquired NODE40, a blockchain technology company that developed NODE40 Balance, a new SaaS product making cryptocurrency tax reporting simpler and more accurate. The solution allows cryptocurrency users and traders to accurately report their capital gains and losses. NODE40 is also one of the leading masternode server-hosting providers for the Dash network and is seeking additional alternate coin masternode hosting.
HashChain Mining is a wholly owned subsidiary of HashChain Technology Inc. based out of Albany, New York, and an office in Vancouver, British Columbia.
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release, including statements regarding the anticipated performance of a total of 4,870 Rigs and expectations regarding future operations may constitute forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the 4,870 Rigs will perform as expected by management. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, the risk that the 4,870 Rigs will not perform as expected by management and the risk that the 3,000 Rigs will not be successfully deployed. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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