- Initial investors include DraperDragon Innovation Fund, JRR Crypto and The9 Limited [NASDAQ: NCTY]
- Multiple business partnerships also announced
SINGAPORE, July 9, 2018 /PRNewswire/ -- MagnaChain (formerly known as CellLink), today announced its new branding and official testnet launch for its new public Blockchain protocol. The protocol stands out as a completely new, built from scratch, public Blockchain and related integration toolset, used for distributed application development (dApps). DraperDragon Innovation Fund and JRR Crypto have been confirmed as an initial investors along with one of China's leading NASDAQ-LISTED videogame companies, The9, based in Shanghai China - more investor announcements are to come in the near future.
MagnaChain utilizes several unique technical approaches, such as a proprietary VH (Virtual Hash) POS Consensus mechanism, innovative use of 'sidechain' technology, and easy-to-use smart contracts; allowing the protocol to solve some of the biggest issues facing public Blockchain including scalability, TPS (transactions per second), and Consensus obstacles, among all other issues.
The company has also secured a number of developers and business partnerships across a variety of sectors – these partnerships are to ensure the most diverse and effective ecosystem for MagnaChain, its dApp partners and their end-users. Partnerships include but are not limited to (in no particular order):
- Epic Games (Unreal game engine)
- Korea Mobile Game Association
"We're extremely excited to have launched the MagnaChain testnet with the backing of such notable and supportive investors and development partners," commented Hal Bame, CEO MagnaChain. "We see MagnaChain having enormous applications and benefit to a variety of industries, starting with the video game and virtual asset sectors; as we believe the video game industry will play a vital role in bringing Blockchain to the masses – we look forward to making this a reality in the very near future and will have more announcements to come very soon."
The company has its mainnet launch targeted for the end of Q3/Q4 2018, and plans to have its first games live on MagnaChain during its testnet period this summer.
MagnaChain is located in Singapore (CellLink Global Holdings Pte. Ltd), and its main business is the development and operation of Blockchain systems and distributed applications (dApps). Its proprietary product MagnaChain is a completely new, built from scratch, public Blockchain and related integration toolset used for distributed application development. The high speed, stability, security, and ease of use MagnaChain has achieved have enabled the development of dApps to be more innovative and efficient. www.MagnaChain.co
About JRR Crypto
Headquartered in Switzerland, JRR Crypto is the world's leading blockchain ecosystem industry investment group. JRR Crypto's business is defined into 8 pillars, as such: blockchain incubators and industrial parks, business consulting, investment banking, blockchain industry funds, blockchain media, digital currency trading platforms, digital currency secondary market trading and digital asset management. We don't just invest, but have unique growth plans for each of the pillars aligned with our unique investment strategy.
The JRR Crypto Group has completed more than 40 early investments of blockchain projects and ecosystem, including but not limited to: the world's largest digital currency trading platform – Binance, blockchain investment intelligence platform – TokenGazer, China's first EOS-supportive blockchain cold wallet – DrSafe, blockchain risk hedging platform – Global Risk Exchange, blockchain technology development company – Ganqu, virtual gaming asset trading chain – WAX, the world's first EVM-supportive mutil-chain system – Pchain, high-capacity peer-to-peer transactional system – QuarkChain, decentralized big data and machine learning network – DxChain, decentralized attention value network – Merculet, ORS and MSC etc. http://www.jrrcapital.com
About DraperDragon Innovation Fund
DraperDragon Innovation Fund is a core member of Draper Venture Network, and mainly focus on investing in US - China cross border startups. DraperDragon currently manages several RMB, USD, and Digital currency funds. In the blockchain sector, DraperDragon participated in the early investment of VeChain, Aelf, Ledger and Telegram. http://www.draperdragon.com
About The9 Limited
The9 Limited is an Internet company based in China. The9 has stepped into blockchain-related business. The9 also develops and/or operates its proprietary mobile games and web games, including the CrossFire New Mobile Games, Audition mobile, Knight Forever and Q Jiang San Guo. http://www.the9.com
About Epic Games (Unreal game engine)
Unreal Engine is the core technology product of Epic Games. It is a complete suite of creation tools for console, PC, mobile, VR and AR platforms. And now, it has even pushed its border to verity fields such as film & TV, architecture visualization, product design and more.
Unreal deeply supports all leading platforms. At Epic, we have proven our technology by regularly shipping games and demos ourselves over the course of two decades. Other than that, we have continually been dedicated to serving developer community with technologies and funds.
More than a successful game engine, Unreal is a reliable tool in many other industries, too. By exploring new fields in real-time 3D films, stimulation training and visualization application, Epic is leading the technology renovation in related industries.
In 2018, Epic released Unreal Studio, a workflow toolkit for Enterprises to speed up their process with Unreal Engine. Unreal Studio includes Datasmith, Learning Materials, technology support and assets. It can create impressive visual effects for architecture and product design.
About Korea Mobile Game Association
The Korea Mobile Game Association is a gathering of 670 developers, with Hwang Sung-ik chairman of the Korea Mobile Game Association actively engaged in the dreams and hopes of small companies.
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