Bitcoin Shop Inc (OTCMKTS:BTCS), which has taken the responsibility of the creation of a universal digital currency ecosystem, said that it has successfully installed transaction verification services servers in new facility. The deployment of servers will reduce the operating costs by 30%. The company has also bought additional servers.
The addition of new servers represents a 10% rise in hashing power compared to previous guidance. Bitcoin Shop is now operating transaction verification servers system with hashing power of more than 900 Th/s. The facility is expected to have additional hashing power of 80 Th/s in a few days. Bitcoin Shop posted pictures of the new facility on its Facebook page.
Charles Allen, the CEO of Bitcoin Shop Inc (OTCMKTS:BTCS), said that the company made a well-timed entry into the new transaction verifications services division. The transition works end with the deployment of severs. The company intends to expand transaction verifications services division and believe it to translate into the key revenue driver for business. It will be vital importance as company continues to work on universal digital currency ecosystem.
Bitcoin Shop’s transaction verification services division entails operating specialized servers which answer prescribed calculations to include a block of verified data to the blockchain and thus confirm bitcoin transactions. When the system is successful in including a block to the blockchain, then it receives new bitcoin.
Bitcoin Shop dreams to create a universal digital currency platform. The objective is to allow users to engage in the worldwide digital currency system through one single point of access. As of now, the Company controls its public beta site where consumers can buy items using digital currency including bitcoin, litecoin and many others. The platform has more than 250,000 items. Users can access competitive pricing features from over 250 retailers through “Intelligent Shopping Engine.” On Thursday’s trading session, BTCS stock price opened 4% lower at $0.220.