MagnaChain Blockchain Protocol Gets DraperDragon, JRR Crypto & The9 Limited Investments
In a deliberate and strategic move, top blockchain technology company out of Singapore, MagnaChain, has entered into investment and business partnerships with several leading industry players towards the launch of its its new public Blockchain protocol.
MagnaChain (formerly known as CellLink), said the protocol stands out as a completely new, built from scratch, public Blockchain and related integration toolset, used for distributed application development (dApps).
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.
— MagnaChain (@MagnaChain) July 4, 2018
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 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 Epic Games (Unreal game engine), Korea Mobile Game Association, iPeoples, Monetizr, Goldilock, Alto and Smartchainmedia.
The company said it is extremely excited to have launched the MagnaChain testnet with the backing of such notable and supportive investors and development partners, according to Hal Bame, CEO MagnaChain.
Bame said he sees MagnaChain having enormous applications and benefit to a variety of industries, starting with the video game and virtual asset sectors; as the company believes the video game industry will play a vital role in bringing Blockchain to the masses. Bame says all of MagnaChain looks 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.