iMining Launches Cardano Staking
Vancouver, British Columbia--(Newsfile Corp. - May 20, 2021) - iMining Blockchain and Cryptocurrency Inc. (TSXV: IMIN) (the "Company" or "iMining") announces that after extensive research and testing, iMining Blockchain and Cryptocurrency Inc. ("iMining" or the "Company") is set to launch a proprietary staking service for another digital asset, Cardano. With the addition of a new asset to its host of services, iMining is poised for another round of growth.
May 20, 2021: iMining announces the expansion of its staking service to now include Cardano tokens (Symbol: ADA). The Company currently focuses on Ethereum's proof-of-stake concept; by adding Cardano staking to its host of services, iMining seeks to bolster its presence as a leading staking service in the crypto world. Cardano, commonly referred to as the third generation of blockchain, seeks to address known issues of sustainability, interoperability, and scalability, which are apparent in the older cryptocurrencies.
The Cardano blockchain relies heavily on staking pools, whereas other blockchains like Ethereum depend on individual staking nodes. With Cardano, iMining will launch a staking pool helping ADA token holders to participate through a secure and reliable infrastructure. "Instead of needing to purchase special equipment to compete for newly minted network tokens, users can easily delegate their funds through iMining's stake pool," said Khurram Shroff, Chairman of the board of directors for iMining.
"Also, with other digital assets, staking means you agree to lock up your tokens for a certain period, during which they cannot be spent. However, this is not the case with Cardano, making it an excellent option for those who would prefer flexibility but would still like to exercise the range of choices available to them in the crypto space," he added.
The newer digital currency supports an incentivized model that is steadily gaining popularity amongst its users. As per the creators of Cardano, incentives ensure the longevity and health of the crypto network and ecosystem. Mr. Shroff, while discussing this newer structure, said, "Cardano is an excellent way to earn passive 'ADA' income."
"As it expands its host of blockchain offerings, the Company's strategic emphasis on its 'HODL' strategy and its continuous focus on expanding and diversifying its business operations is expected to generate substantial shareholder value," said Khurram Shroff.
"For the rest of 2021, we are laying the groundwork to drive further growth for iMining, by amplifying our focus on initiatives that will help in the widescale adoption of crypto assets. Our team is relentlessly working to continue to strengthen and refine iMining's strategy while at the same time ensuring that we create and maintain long term value for all our stakeholders," concluded Khurram Shroff.
About iMining Blockchain and Cryptocurrency Inc.
iMining is a growth-oriented, TSXV listed company, focused on linking traditional capital markets with blockchain investment opportunities. Through its wholly-owned subsidiary, the company provides retail and institutional investors a safe and secure way to stake Ethereum 2.0 using proprietary and secure proof of stake methods. We are driven by our core values to operate with transparency, efficiency, and sustainability as we work toward building long-term shareholder value.
ON BEHALF OF THE BOARD
Signed "Khurram Shroff"
Khurram Shroff, Chairman of the Board
FOR FURTHER INFORMATION PLEASE CONTACT:
Contact: Robert Eadie
Telephone: 1-604-602-4935 ♦ Facsimile: 1-604-602-4936
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.
This news release contains certain forward-looking statements, which relate to future events or future performance, including, but not limited to, future business operations of iMining. They reflect management's current expectations and assumptions, and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of iMining's activities, future cryptocurrency prices, operating risks, and other risks in the cryptocurrency industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
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