VANCOUVER, BC, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Eat & Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) (“Eat & Beyond” or the “Company”), an investment issuer focused on sustainability and alternative protein sector, has decided to expand its investment policy and strategy into the area of crypto currencies. The Company will be evaluating strategies to invest in the Solana blockchain platform and the native cryptocurrency SOL. The Company has not as yet identified any new investments but will continue to evaluate opportunities in this space.
About Solana
Solana is a blockchain platform which uses a proof-of-stake mechanism to provide smart contract functionality. Its native cryptocurrency is SOL. This cryptocurrency is seen as an alternative to Ethereum.
Solana is a high-performance blockchain platform designed for decentralized applications (dApps) and crypto projects. It is known for its speed and scalability, offering significantly faster transaction processing compared to many other blockchains like Bitcoin and Ethereum.
Key metrics:
- Average volume: 24-hour trading volumes regularly exceeding US$4 billion.
- Price Growth: Increase of 51% over the last 30 days, from US$147 to US$222 as of November 11, 2024.
- Market Capitalization: US$105.07 billion as of November 11, 2024.
Key features:
High Throughput: Solana is capable of processing thousands of transactions per second (TPS), with claims of supporting up to 65,000 TPS at its peak. This is made possible by its unique architecture and consensus mechanism.
Proof of History (PoH): One of the standout innovations of Solana is its use of Proof of History (PoH), which is a timekeeping technique that helps nodes in the network agree on the order of events without needing to communicate constantly. This allows the network to be much more efficient and scalable.
Proof of Stake (PoS): In conjunction with Proof of History, Solana uses a Proof of Stake (PoS) consensus mechanism. This helps to secure the network and validate transactions in an energy-efficient manner, while also providing incentives for validators through staking.
Low Fees: Solana is designed to keep transaction fees extremely low, which has made it a popular choice for developers and users, especially for applications that involve frequent micro-transactions, such as decentralized finance (DeFi) apps and non-fungible tokens (NFTs).
Developer-Friendly Ecosystem: Solana offers developers a suite of tools and resources to build on its platform. It supports Rust and C programming languages, which are widely used for blockchain development, as well as Solidity (Ethereum's main language) through Solana's EVM-compatible projects.
Smart Contracts: Like Ethereum, Solana supports smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. These can be used for a variety of applications, from DeFi to NFTs.
This efficiency has made Solana a popular choice for decentralized finance (DeFi), NFTs, and Web3 applications, where low transaction fees and high throughput are essential. Solana continues to differentiate itself by offering a cost-effective, fast, and scalable alternative to more established blockchains like Ethereum, drawing attention from both developers and investors looking for solutions that can handle high demand use cases.
About Eat Beyond
Eat & Beyond is an investment issuer that identifies and makes equity investments in global companies that are developing and commercializing innovative food tech and sustainability. Led by a team of industry experts providing retail investors with the unique opportunity to participate in the growth of a broad cross-section of opportunities in the alternative food and sustainability sectors, and access companies that are leading the charge toward a smarter, more secure food supply.
Learn more: https://eatbandeyond.com/
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved the contents of this press release.
For further information: For further information, please contact Young Bann, CEO, young@purposeesg.com.
This press release includes "forward-looking information" that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward- looking statements. Such forward-looking statements represent management's best judgment based on information currently available. No securities regulatory authority has either approved or disapproved of the contents of this news release. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
