VANCOUVER, Jan. 2, 2018 /CNW/ - HashChain Technology Inc.
("HashChain" or the "Company") currently holds a masternode in the Dash network allowing the Company to vote for
proposals and verify transactions. Masternodes primary function is to relay transactions across the DASH network. Additionally
they carry out the anonymization of funds ("PrivateSend") and enable double-spend-proof transactions through instant
lockdowns ("InstantSend"). Dash operates a proof of work ("POW") and proof of stake ("POS") consensus
algorithm. Many other digital currencies only use proof of work to verify transactions, however Dash is unique in its hybrid POW
and POS approach. About 12 months ago Dash was only worth $10 a coin and has now broke the
$1,000 barrier. To become a masternode, collateral of 1,000 Dash has to be placed and in
October 2017 HashChain purchased 1,000 Dash for a total of $280,000
USD. Dash is a form of "Digital Cash" providing realistic, reliable, digital cash solution for the global economy. The
Dash network currently rewards masternodes at a rate of 6.67 Dash per month. With Dash around $1,000 that is the equivalent to $6,670 USD per month per masternode. HashChain
is currently realizing a return on its masternode investment of approximately 28.5% per annum. The Company will not be
receiving USD (or any other fiat currency) as a result of the Company's plans not to convert the Dash from the
masternodes into Fiat and until the Company's plans change at which time there can be no assurances that the price of Dash will
not significantly decrease due to its price volatility or that the Dash could be converted into USD (or any other fiat
currency) at that time.
In December 2017, HashChain, in its capacity as a Dash masternode, voted to support the
successful proposal of a Blockchain solutions company ("BlockChain Co."), driving DASH awareness and integrate DASH payments for
services. One of the more exciting road map elements for DASH is DASH Drive. This will enable large data stores to be
placed on a blockchain so BlockChain Co. can scale and evolve their business model.
HashChain in its capacity as a Dash masternode is also pleased to have voted to support the successful proposal,
The Dash Leopards soccer teams in Africa initiative, which will be the first in the
world to be funded by Dash blockchain technology. The teams have already generated huge community interest. The initiative
develops positive educational outcomes to their youth members by supervising them doing homework and assignments before they play
soccer.
Pat Gray, CEO and director of HashChain, commented, "While Bitcoin needs miners to take care of
creating new blocks and validating transactions, Dash needs miners just to create new blocks; Masternodes own an entire copy of
the blockchain and perform services for the network such as voting, PrivateSend, and InstantSend. This is one of the reasons
HashChain has acquired a Dash masternode. The hybrid POS and POW concept is gaining more traction in the blockchain and we expect
more POS to be utilized in the near term". Gray further stated, "A major feature of a masternode is Decentralized Governance by
Blockchain, enabling Dash to fund budget proposals and finance its own development for which we take very seriously and are proud
of the positive impact Dash has on society."
About HashChain Technology Inc.
HashChain is a Blockchain Technology company, and the first publicly traded (TSXV) 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 and has
purchased 770 Bitcoin rigs, which are expected to be received and installed to commence mining in January
2018 with energy consumption dedicated to digital currency mining of approximately 1.2 megawatts. HashChain also
acquired a Dash Masternode for approximately USD $280,000 which requires a collateral investment of
1,000 Dash coins. HashChain is based in Vancouver, British Columbia. HashChain Mining is a
wholly owned subsidiary of HashChain Technology Inc. based out of Albany, New York.
For further details of the Company's business, please refer to the Company's final prospectus dated December 12, 2017, which is available on the Company's SEDAR profile at www.sedar.com or visit http://www.hashchain.ca.
On Behalf of the Board,
Patrick Gray
CEO & Director
For Further information please contact:
HashChain Technology Inc.
Larry Heinzlmeir
Vice President, Marketing & Communications
Larry@HashChain.ca
604-537-8676
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.
SOURCE HashChain Technology Inc.
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