TAAL a Pureplay on BitcoinSV; Proving Protocol Scale and Low-Cost
- On March 13, 2021, Company achieved a world record block of 638MB processed on the BitcoinSV blockchain network
- Expanded computing power follows previously announced next-generation blockchain infrastructure operations successfully deployed in Alberta, Canada
- Company to host investor webinar with TAAL management team on April 14 at 12:00PM EST
VANCOUVER, BC, March 30, 2021 /CNW/ - TAAL Distributed Information Technologies Inc. (CSE:TAAL) (FWB:9SQ1) (OTC:TAALF) ("TAAL" or the "Company"), a vertically integrated blockchain infrastructure and service provider for enterprise, announced today that TAAL is on track to reach its computing power target of securing 400 PH ("petahash") in computing power by year-end.
This capacity milestone will be achieved despite global pandemic-related supply constraints, validating TAAL's commitment to being the leading BitcoinSV enterprise blockchain transaction processor, and supporting its long-term vision as a pure-play on the adoption of the BitcoinSV blockchain. In December 2020, the Company announced an overall computing capacity of more than 280 PH. In January 2021, TAAL successfully began its next-generation blockchain infrastructure operations in Alberta, Canada, on schedule.
"Blockchain technology will continue to disrupt industries for the next decade. Developers all over the world are looking for more scale, speed, and lower costs. BitcoinSV delivers all three. I am excited about the many opportunities ahead as we bring BitcoinSV blockchain's advantages to the enterprise community globally. The record block which the Company has recently processed validates the TAAL market leadership position and further demonstrates our capacity to process a large number of transactions," comments Stefan Matthews, TAAL CEO and Executive Chairman.
TAAL Processes World Record Block
To cater to the demands of enterprise blockchain adoption, where the business value added by blockchain is projected to surpass $176 billion by 2025 and $3.1 trillion by 2030 (Source: Gartner, Forecast: Blockchain Business Value, Worldwide, 2017-2030), on March 13, 2021, TAAL has processed a world record block of 638MB on the BitcoinSV blockchain network. This achievement outpaces the Bitcoin ("BTC") network by 638x due to BTC protocol constraints of only 1MB per block, and is a clear demonstration of the superior ability of the BSV network to meet the scalability needs of clients processing transactions through TAAL on the Bitcoin SV blockchain.
Details of the world record breaking block are available on WhatsonChain.com, a Blockchain Explorer service - Block #678301 (https://whatsonchain.com/block-height/678301).
Explore the BSV Blockchain using WhatsonChain
Through WhatsOnChain, TAAL'sproprietary BSV blockchain explorer technology, the Company offers authentication services. Companies in the financial and compliance industries or applications (such as digital asset wallets or exchanges) rely heavily on these blockchain explorers and the developer library's APIs to verify and track transactions on the blockchain. WhatsonChain is the first BSV blockchain explorer that delivers real-time data in an easy and user-friendly manner, for anyone, anytime.
Upcoming Webinar: Fireside Chat with TAAL Executive team
DATE: April 14, 2021
TIME: 12:00pm EST
REGISTRATION: https://bit.ly/39nWTMX
Join this webinar to hear TAAL President Chris Naprawa, Chief Commercial Officer Kal Suurkask and Chief Product & Innovation Officer Jerry Chan, discuss the emerging transactional economy, blockchain technology and how consumer and capital markets are adopting enterprise blockchain solutions.
About TAAL Distributed Information Technologies Inc.
TAAL Distributed Information Technologies Inc. delivers value-added blockchain services, providing professional-grade, highly scalable blockchain infrastructure and transactional platforms to support businesses building solutions and applications upon the Bitcoin SV platform, and developing, operating, and managing distributed computing systems for enterprise users.
Visit TAAL online at www.taal.com
The CSE, nor its Regulation Services Provider, accepts no responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain statements included in this news release constitute "forward-looking information" as defined under applicable Canadian securities legislation. The words "will", "intends", "expects" and similar expressions are intended to identify forward-looking information, although not all forward-looking information will contain these identifying words. Specific forward-looking information contained in this news release includes but is not limited to statements regarding: TAAL's computer power target and the achievement of that goal; and the adoption of blockchain technology by enterprise. These statements are based on factors and assumptions related to historical trends, current conditions and expected future developments. Since forward-looking information relates to future events and conditions, by its very nature it requires making assumptions and involves inherent risks and uncertainties. TAAL cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from expectations. Material risk factors include the future acceptance of Bitcoin SV and other digital assets and risks related to information processing using those platforms, the ability for TAAL to leverage intellectual property into viable income streams and other risks set out in TAAL's Annual Information Form dated March 1, 2021 under the heading Risk Factors and elsewhere in TAAL's continuous disclosure filings available on SEDAR at www.sedar.com. Given these risks, undue reliance should not be placed on the forward-looking information contained herein. Other than as required by law, TAAL undertakes no obligation to update any forward-looking information to reflect new information, subsequent or otherwise.
SOURCE Taal Distributed Information Technologies Inc.
Matt Whitcomb, Investor Relations, [email protected] 604-260-6142; Stefan Matthews, CEO & Executive Chairman, [email protected]; Chris Naprawa, President, [email protected]
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