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Majic’s Subsidiary CGCX Launches Superior Decentralized Blockchain Platform

Houston, Texas, Aug. 06, 2021 (GLOBE NEWSWIRE) — Majic Wheels, Corp. (OTC Pink: MJWL) (“Majic” or the “Firm”), a Delaware company, that’s positioning itself as a participant within the disruptive industries of fintech and software program growth via acquisitions, proclaims launch of iChain Superior Decentralized Blockchain Platform by its wholly-owned subsidiary CGCX.

CGCX’s iChain is an formidable Layer 2 scaling undertaking devoted to the institution of a very decentralized infrastructure. It offers one of many largest blockchain-based working programs and gives public blockchain assist of excessive throughput, excessive scalability, and excessive availability for all Decentralized Functions (DApps) on the CGCX iChain ecosystem.

iChain is designed to be an entire platform for launching interoperable blockchains and gives important transparency, safety, scalability, efficiency, and low/no gasoline charges.

The primary undertaking – iBG (www.ibg.finance), a Good DeFi Robo Advisory app that gives customers with AI enabled asset administration, has already gone stay on CGCX iChain, with greater than 3000 transactions logged within the first hour. The second undertaking is CGCX token. CGCX is the world’s first totally insured hybrid buying and selling platform and its native utility token will migrate from Ethereum blockchain to iChain blockchain. There are two additional enterprise blockchain initiatives within the pipeline which are because of go stay on the CGCX iChain.

Aneesha Reihana, Chief Product Strategist of iBG.finance added “CGCX’s iChain has supplied us a scalable platform to broaden our service choices at not solely no value to our customers, however much more importantly on an insured platform.”

The go to market technique is to assist fortune 500 multinational corporations transfer into blockchain with a extremely scalable/secured low to no value mannequin. This offers a very decentralized platform and gives POSI (public providing safety insurance coverage) to all of the digital belongings out there within the iChain platform, topic to insurance coverage premiums.

The founding father of CGCX and iBG Dr Vin Menon mentioned “we’re very proud to be the world’s first insured platform the place all of the digital belongings are reinsured by Lloyds of London Syndicates and supply protected custody and peace of thoughts for our asset house owners. That is distinctive to the market, and we now have been engaged on creating this infrastructure for numerous years.”

The CGCX iChain is a protocol designed to assist scale key Decentralized Functions (DApps) by dealing with transactions off the Ethereum mainnet, whereas profiting from the sturdy decentralized safety mannequin of the mainnet, by anchoring transaction hashes to the mainnet, which ensures that the immutability of the blockchain is maintained.

iChain seeks to handle a few of Ethereum’s main limitations—together with its throughput, poor person expertise by way of excessive pace and delayed transactions and its excessive gasoline charges. In a current interview, Vitalik Buterin, Ethereum’s co-founder, has commented on how the Ethereum ecosystem is not going to work if gasoline charges cripple the typical customers and sees sidechains and parachains as enjoying a key function in lowering community prices, amplifying efficiency, and anchoring Ethereum.

About Majic Wheels Corp.

Majic Wheels Corp., a Delaware company, intends to place itself as a participant within the disruptive industries of Fintech and software program growth via acquisitions and mergers. Majic Wheels Corp. is listed and traded on the Over-the-Counter Market beneath the buying and selling image “MJWL”.

For extra details about the Firm go to:

Our OTC Markets Profile: https://www.otcmarkets.com/stock/mjwl/overview
Our web site is: https://majiccorp.co/
Our Twitter account is: https://twitter.com/MajicCorp
Our Discord: https://discord.gg/apolloassets

About CGCX Ltd.

Based in 2018, Calfin International Crypto Change CGCX got down to provide a extremely subtle cryptocurrency alternate for a seamless & safe crypto buying and selling expertise. Not like most exchanges that provide solely cryptocurrency buying and selling, CGCX caters to the bigger blockchain neighborhood by offering 4 companies beneath a single platform.

CGCX Web site: https://www.cgcx.io

SAFE HARBOR STATEMENT

This press launch comprises forward-looking statements that may be recognized by terminology reminiscent of “believes,” “expects,” “potential,” “plans,” “suggests,” “might,” “ought to,” “may,” “intends,” or comparable expressions. Many forward-looking statements contain recognized and unknown dangers, uncertainties and different elements that will trigger precise outcomes to be materially completely different from any future outcomes implied by such statements. These elements embrace, however are usually not restricted to, our capability to proceed to boost our merchandise and programs to handle business adjustments, our capability to broaden our buyer base and retain present prospects, our capability to successfully compete in our market section, the shortage of public data on our firm, our capability to boost adequate capital to fund our enterprise, operations, our capability to proceed as a going concern, and a restricted public marketplace for our widespread inventory, amongst different dangers. Many elements are troublesome to foretell precisely and are usually past the corporate’s management. Ahead-looking statements communicate solely as to the date they’re made, and we don’t undertake to replace forward-looking statements to replicate circumstances or occasions that happen after the date the forward-looking statements are made.

SOURCE: Majic Wheels Corp.

Majic's Subsidiary CGCX Launches Advanced Decentralized Blockchain Platform 1

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