ROSH HAAYIN, Israel, April 27, 2018 /PRNewswire/ -- Virtual Crypto Technologies Inc. (OTCQB: VRCP) (the "Company"), developer of software and hardware for the purchase and sale of crypto-currencies through ATMs, tablets, PCs and or mobile devices, today announced the completion of a full node setup on Amazon Web Services' (AWS) EC2 servers to facilitate immediate bitcoin trades.
With full node participation in the bitcoin network, Virtual Crypto will be able to maintain a complete history of every bitcoin transaction that has ever taken place, all new transactions, and all block headers. As a result, the Company is capable of verifying all transactions directly, rather than relying on miners. Employing state-of-the-art blockchain technology, all data concerning bitcoin transactions are delivered in real-time to Virtual Crypto's Research and Development team, so a proprietary algorithm can be applied and all transactions efficiently reviewed.
The Company will be leveraging its new ability to conduct big data analysis in multiple ways. First, the capability of evaluating the possibility of a transaction being confirmed with great accuracy underlies Virtual Crypto's ability to immediately confirm the likelihood that any given transaction will take place, which in turn gives the Company's customers the confidence to execute trades without fear of rejection. The AWS servers also provide Virtual Crypto with the capacity to conduct data analysis to determine trends and opportunities to develop innovative services for the cryptocurrency marketplace.
Simon Danilov, CTO of Virtual Crypto Technologies Ltd., commented, "This is a huge step to further improve our 'fast confirmation' product. It allows us not only to understand in-depth blockchain transactions, but also use machine-learning algorithms to further improve our prediction and validation mechanism."
About Virtual Crypto Technologies Inc. Virtual Crypto Technologies Inc., through its wholly owned Israeli subsidiary Virtual Crypto Technologies Ltd., has developed the NetoBitTrader, a proprietary, cryptographic algorithmic technology that it is able to confirm in real-time the purchase or sale of virtually any cryptocurrency.
Virtual Crypto's NetoBit products dramatically improve the cryptocurrency trading experience with faster execution and lower costs. Setting a new time-to-transaction standard, trading in seconds rather the industry norm of 20 minutes, allows NetoBit customers to enjoy the best crypto-exchange rate at the point of transaction.
The Company is marketing its NetoBit Trader software and hardware products for the purchase and sale of cryptocurrencies through ATMs, tablets, PCs and mobile devices. Virtual Crypto Technologies further believes that the ability to immediately confirm cryptocurrency transactions in real-time provides a significant competitive advantage in making the purchase and sale of cryptocurrencies user friendly.
Notice Regarding Forward-Looking Statements This press release may contain forward-looking statements, about the Company's expectations, beliefs or intentions regarding, among other things, its product development efforts, business, financial condition, results of operations, strategies or prospects. In addition, from time to time, the Company or its representatives have made or may make forward-looking statements, orally or in writing. Forward-looking statements can be identified by the use of forward-looking words such as "believe," "expect," "intend," "plan," "may," "should" or "anticipate" or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by the Company, f/k/a Emerald Medical Applications Corp., with the U.S. Securities and Exchange Commission, press releases or oral statements made by or with the approval of one of the Company's authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause Virtual Crypto's actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause Virtual Crypto's actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements, including, but not limited to, the factors summarized in the Company's filings with the SEC (under its former name, Emerald Medical Applications Corp.) In addition, Virtual Crypto operates in a relatively new industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. Virtual Crypto does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. Reference is made to the disclosure contained in our Form 8-K filed with the U.S. Securities and Exchange Commission on March 12, 2018, with respect to the change in our business operations and the change in the Company's name and trading symbol.
Company Contact: Virtual Crypto Technologies Ltd Tel: +972-54-487-7959 [email protected]