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CargoX utilizes the Matic Network for efficient real-time Blockchain Document Transactions (BDT)

Nov. 2, 2020, 8 a.m.

(Ljubljana, Slovenia - 2 November 2020) - CargoX, the maker of the CargoX Platform for Blockchain Document Transfer (BDT), has connected to the Matic Network - a sidechain to the Ethereum blockchain - to provide even faster and more cost-efficient original document transactions.

The CargoX Platform is built using Ethereum blockchain technology and runs on top of the Ethereum Mainnet neutral public blockchain network. This exposes CargoX to internal document transaction fee fluctuations because of the current Ethereum network congestion. Therefore, CargoX has decided to utilize a sidechain - a secondary blockchain - for immediate document transaction validation, while preserving all the original Ethereum Layer 1 network functionalities within the solution.

“The CargoX Platform remains the electronic bill of lading platform of choice for companies aiming to use technology based on neutral, public networks. Even with this change, we preserve all the features that earned the CargoX Platform impressive awards and industry recognition, and we remain on course as the provider of the most reliable, secure, and transparent blockchain document transfer in the shipping industry,” said Stefan Kukman, founder and CEO of CargoX.

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