Cypher Metaverse (CODE.C) brought on the services of Baker Tilly WM Advisory to perform a review of the Arcology platform today.
Baker Tilly is the tenth largest accounting firm in the world by revenue and Arcology is a blockchain running in support of high performance Web 3.0 applications, and it’s owned 30% owned by by Cypher.
“This engagement will help advance the Arcology Blockchain Network roll out: the technical team at the Digital Technology and Risk practice of Baker Tilly has the experience, rigor and expertise to help us move our revolutionary blockchain ecosystem forward. The team at Baker Tilly provides Arcology with a resource to independently review the system and assess certain key strategic business decisions,” said Mr. Laurent Zhang, Arcology founder and CEO.
Cypher Metaverse (formerly Codebase Ventures) seeks out investments in emerging tech sectors, including blockchain, fintech and the metaverse, and uses their relationships and capital to help give them a necessary bump.
Arcology uses artificial intelligence to attempt to remove or avoid the inefficiencies other blockchain platforms face. The system is divided into two platforms: Arcology Network (public) and Arcology Enterprise (private), but both are based on the same tech. The public network a permissionless platform like Bitcoin or Ethereum while Enterprise is focused on the needs of companies.
The engagement’s focus will be on verifying performance of the Arcology blockchain design and timed to help identify and maximize the company’s value proposition as the network advances towards the release of the public testnet, which will give developers the chance to actually work with what they’re touting as the latest generation of blockchain.
Arcology has tested the tech before. Testnet 1.0 got generally positive results, meeting both its scalability targets and demonstrating that it was compatible with Ethereum.
It achieved the following goals:
- As Bitcoin and Ethereum prices increase, Arcology has demonstrated compatibility with Ethereum;
- Performance achievement of internal transaction per second goals beyond Ethereum’s capabilities;
- Confirmation of scalability required to drive mainstream adoption; and
- Arcology is to blockchain apps what the Apple Store is to smartphone apps.
Let’s look at the chart.
It’s early in the day yet, but Cypher Metaverse is up half a penny, with a $7.3 million market cap.