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Metaverse Capital set to play leading role in Elixxir's payment and communications network

A node on a blockchain network carries out a variety of tasks and allows it to survive.
Blockchain tech
The Elixxir BetaNet is set to launch in fall of 2019

Metaverse Capital Corp (CSE:FORK) (OTCMKTS:GBCH) continues to burnish its credentials in the blockchain space as it revealed it has been selected as a node operator for the BetaNet for Elixxir.

Elixxir allows users to make high-speed payments and communications and can facilitate hundreds of thousands of transactions per second.

READ: Metaverse Capital offers strong 2Q update in wake of surging cryptocurrency markets

In fairly simple terms, a node on a blockchain network carries out a variety of tasks and allows it to survive. Each cryptocurrency has its own nodes.

"We are very pleased to be adding a leading role in Elixxir's network to our portfolio of network stakes, as Elixxir is positioned to make important developments in the mainstream usage of blockchain technology," said FORK CEO Shidan Gouran. "We are honored to have been chosen to be at the forefront of Elixxir's BetaNet in its exclusive Blue Group, and we are excited to partake in this pivotal moment in the evolution of distributed ledger technology."

Elixxir, founded by David Chaum, the creator of eCash, has selected 600 parties to operate nodes and FORK was selected in the Blue Group -- the highest-ranking subset of node operators, consisting of just 150 nodes.

Set to launch in Fall

The Elixxir BetaNet is set to launch in fall of 2019.

"The notion of non-trackable payments was first proposed by David Chaum back in 1983," noted FORK Director Steven Nerayoff in Monday's statement.

"Elixxir was developed at the intersection of the demand for such capabilities and the recent developments in blockchain technology. Elixxir can give the general public the privacy they deserve, without the scalability limitations that other blockchains have faced.

"Together with CasperLabs and Aglorand, Elixxir is at the forefront of the third generation of blockchain technologies which will provide global scalability of the Internet and inherent utility for applications which would not have been possible before."

Shares in Canada rocketed up over 33% to $0.020.

Contact Giles at [email protected]

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