San Juan, Puerto Rico, Aug. 05, 2021 (GLOBE NEWSWIRE) -- BOTS, Inc. (OTC: BTZI), (“BOTS” or "The Company"), a global technology company specialized in Blockchain-based solutions including decentralized finance applications for the financial industry, cybersecurity solutions, crypto mining, consulting, mining equipment repair and insurance announced earlier the completion of the first generation of a dogecoin miner ( Model G1). The Company is developing a next generation Miner that will also be able to mine the most popular SCRYPT coins including over 200 Scrypt based ones listed on CoinMarketCap. Scrypt is used in many cryptocurrencies as a proof-of-work algorithm. It was first implemented for Tenebrix (released in September 2011) and served as the basis for Litecoin and Dogecoin, which also adopted an identical scrypt algorithm.
Model G1 is an entry level model designed for beginner Dogecoin mining enthusiasts. As an easy to use, low-cost miner, G1 is designed to introduce new crypto enthusiasts to the world of cryptocurrencies and mining. G1 miners allow you to mine Dogecoin with under 10 watts of power. The Company will provide support and updates for its line of cryptocurrency miners. The miner is easy to setup and use, and new users can get started with no previous mining experience needed.
The Company is developing a private dogecoin mining pool that will be open for KNOS Airdoge miners as well. Mining pools are created by pooling of resources by miners, who share their processing power over a network, to split the reward equally, according to the amount of work they contributed to the probability of finding a block. A "share" is awarded to members of the mining pool who present a valid partial proof-of-work.
A recent Forbes article entitled An Introduction to Dogecoin, The Meme Cryptocurrency describes Dogecoin as a cryptocurrency, like Bitcoin or Ethereum—although it’s a very different animal than either of these popular coins. Dogecoin was originally created at least in part as a lighthearted joke for crypto enthusiasts, and took its name from a once-popular meme. Despite this unusual origin story, it has exploded in popularity in 2021—as of writing, Dogecoin has become the fifth largest cryptocurrency by market cap.
What is Dogecoin?
Software engineers Billy Marcus and Jackson Palmer created Dogecoin in late 2013. Palmer branded the cryptocurrency’s logo using a meme popular at the time that featured the deliberately misspelled word “doge” to describe a Shiba Inu dog.
“Doge was really started to poke fun at Bitcoin,” said Pat White, CEO of Bitwave. In its early days, a community of enthusiasts arranged publicity stunts to raise Dogecoin’s profile, gathering funds to send the Jamaican Bobsleigh team to the 2014 Olympics, for instance, or sponsoring a NASCAR driver.
In early 2021, Dogecoin gained cult status on Reddit’s WallStreetBets message board—the prime instigator behind the GameStop affair in January—where enthusiasts had promised to propel its value “to the moon” (that was before all discussion of crypto were banned on the subreddit).
Today Dogecoin is no joke, having exploded in value and gained more than 5,000% in 2021. Among its boosters is Tesla CEO Elon Musk, who called Dogecoin his favorite cryptocurrency. Musk also named Dogecoin the “people’s crypto,” and promised to plant a physical Dogecoin token on the moon.
Dogecoin might be my fav cryptocurrency. It’s pretty cool.
— Elon Musk (@elonmusk) April 2, 2019
About BOTS, Inc.
BOTS, Inc. is a global technology company specialized in Blockchain-based solutions including decentralized finance applications for the financial industry, cybersecurity solutions and owns a portfolio of digital assets and crytpo-related businesses such as BeadSwap, a decentralized crypto exchange, Bitcoin ATM machines and corresponding US patents and Cyber Security Group LLC, an ISO/IEC 27001:2013 Information Security Management System certified company. The Company also provides crypto mining consulting, optimization, and crypto mining equipment repair and insurance.
Track BTZI news on Facebook @https://www.facebook.com/Bots.Bz/
Follow BTZI news on Twitter @Bots_bz http://www.Twitter.com/Bots_bz
Find BTZI news at http://www.bots.bz
Bots, Inc. has been featured in media nationwide, including CNBC, Bloomberg, TheStreet.com.
For more information, visit http://www.bots.bz
Visit BTZI on Facebook
Follow BTZI on Twitter @Bots_bz
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in the Company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors, including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release, and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's website and filings.
© 2021 GlobeNewswire, Inc. All Rights Reserved.