- Graph Blockchain announced plans to purchase Cardano and Polkadot for staking.
- Graph will purchase and stake the coins through its subsidiary Babbage Mining Corp.
- Likewise, crypto investment fund FD7 previously purchased Cardano and Polkadot.
Graph Blockchain has selected two blockchain projects as the first altcoins that it will be supporting via investing and staking strategy. The first two coins to be concentrated on will be Cardano (ADA) and Polkadot (DOT).
Also, the plan is to purchase and stake through the firm’s subsidiary, namely Babbage Mining Corp. Notably, the company plans to acquire these coins over the following weeks to stake. Graph Blockchain believes that the two currencies have top-tier development teams, funding, support, and strong user adoption potential.
For all the reasons mentioned above, Graph is proud to name these two projects as the first altcoins to be supported through investment and staking.
The report also stated that it would subsequently release further updates concerning deployment and detailed educational materials for the two smart contract platforms.
The Graph is a blockchain development firm that provides high-performance blockchain solutions. This includes graphical data analysis and consulting services, data mining analysis via graph databases, and speed enhancements of the blockchain control system.
Prior to this purchase, a Dubai-based crypto investment fund FD7 also purchased Cardano and Polkadot. In fact, the report stated that it sold Bitcoin worth $750 million to acquire the two digital currencies.
As reported back then, the firm thinks selling the leading cryptocurrency for ADA and DOT will better serve the needs of its interested investors who are into diversifying their crypto portfolios in the nascent industry.