DragonChain is a blockchain based company developed by Disney in 2014. The project, which started as the “Disney Special Blockchain Platform”, was then released to the market as open source software in 2016.
DragonChain (DRGN) now operates as a non-profit organization, but after the platform is fully engaged, it will go on the market as a commercial enterprise (DragonChain Inc.).
In general, DragonChain’s goal is to help companies quickly and easily incorporate blockchain into their business applications. Many companies may be interested in making this transition because of the advantages of serving customers over a blockchain – increased productivity and security for transactions, lowering costs by eliminating potential fraud and frauds, and so on.
More specifically, DragonChain (DRGN) offers a server-less ecosystem that enables companies to start using blockchain applications in a secure, private, and secure way. They aim to offer businesses a “turnkey” product that is compatible with the development stack they use for Java, C ++ and Python. This means companies can now build their own smart contracts (DragonChain platform) using common programming languages.
We will refer to the DRGN technical review to look at a complete list of the attributes of the DragonChain ecosystem:
Attributes of the DragonChain ecosystem
These key features, which will be discussed in more detail, are the elements that make it easy for operators to run their decentralized applications. Features work together to provide lower development costs, faster marketing for company projects, greater scalability for these projects, and significantly increased levels of security.
Briefly, It can be said that the DRGN ecosystem is a whole of three main components:
The platform can be thought of like the background that stores and secures DragonChain’s business client data. This is where developers can create and store Smart Contracts in common programming languages. Also included is an access platform to Amazon Web Services (a subsidiary of Amazon.com that provides optional cloud computing platforms).
Crowd-Scaled Incubator is where companies can quickly develop blockchain projects by following the standardized process of DragonChain.
The “crowded” aspect of the incubator is of great benefit to the company’s projects. This means that after developing an enterprise blockchain project in the incubation chamber, it can be viewed and scaled by a crowd of people/investors from all over the world. If successful, the incubation process works to dramatically reduce the resources required for a client to be exposed to a developing project.
In terms of results, the full scale incubator aims to allow commercial projects to be marketed and allow market value to start producing much faster. On DragonChain’s web site you can see that they are currently applying for businesses that want to launch the trading platform and incubation process.
DragonChain (DRGN) now has five projects under incubation: Look Lateral – Liquid Art, Seed2You, LifeID, IDPay, and ClevX.
Finally, DragonChain Marketplace is a support system for client companies. Here you can access a pool of “Subject Matter Experts” verified on topics such as cryptography, marketing, and software development. The marketplace is also where DragonChain customers get access to the library of pre-built smart contracts.
These 3 components (platform, incubator, and market) together make up the DragonChain ecosystem. The ecosystem is provided by Dragon Coin (DRGN), a token with a micro-license to be used as a credit for each service component.
Basically, DragonChain is aiming to solve the problem of existing platforms that restrict the creation of genuinely secure and scalable blockchain applications in real-world business use cases.
For example, Ethereum provides customers with an ecosystem that runs Dapps and Smart Contracts. DragonChain serves a similar purpose but is designed to be more secure than Bitcoin and Ethereum protocols.
DragonChain’s technical documentation is a point to emphasize the level of security recommended by blockchains. There are five standardized compromise level systems in the DRGN platform. Security increases as the verification level for a block increases.
Here are five levels:
This layered security form tries to add another dimension to the common blockchain model. DragonChain suggests that you consider the levels of the idea conspiracy model as a “blockchain blockchain”.
Because Blockchain seeks to change traditional contracts and payment systems with a safer process, there is now a potential for fraud / fraud-worried industries to benefit. This means, for example, that companies engaging in real estate or laws will take away significant losses in fraud through the Smart Contracts in DragonChain’s ecosystem.
Another potential use case is in the game industry. With over 75 million users, FlowPlay wants to use DragonChain tokens so that players can buy virtual items securely. This will create a market that is not based on initial trust for virtual goods and will guarantee legitimacy.
More intuitive use cases of the platform include auditing, reservation and voting systems. Please refer to this page https://dragonchain.github.io/blockchain-use-cases prepared by Disney for a complete list.
DragonChain team, Joe Roets CEO and Chief Architect. He worked at Disney before leaving to participate full-time in the development of the DRGN platform. Joe Roets, Coinbase, and Overstock.
The rest of the team consists of four key developers and three business/marketing specialists. More information about each member and their participation is available on the DragonChain website.
In addition, there is a strong advisory board behind the team. Jeff Garzik is probably the most experienced consultant in terms of blockchain technology. He acted as a resident icon in the Bitcoin network and set up Bloch chain company Bloq. Another important advisor is Ed Fries; VP of Microsoft’s game builders and founders of Xbox.
Since DRGN is an ERC-20 token, there are options for an ERC-20 compliant wallet where you will store it. If you save tokens into an online ERC-20 wallet, we recommend you use DragonChain MyEtherWallet or “MEW”.
If you are looking for a safer and offline way to store DRGN coins, you should be careful to use a hardware wallet such as a Trezor or Ledger Nano S. Both wallets support all ERC-20 tokens, including DRGN.
DragonChain’s platform creates a niche in the crypto world with layered security features. The 5-tier security model gives an excellent reputation to the goal of facilitating integration into the commercial chain block.
In addition, DragonChain is seen as a strong competitor to Ethereum due to the scalability of the platform; Ethereum is a misuse. In financial terms, if DragonChain competes against Ethereum, the DRGN Market Cap will have enough room for growth. Ethereum’s market share is now over 120 times that of DragonChain.
As of January 2018, the DragonChain team has begun to develop and finance the platform. Despite the fact that the exact date is unaware, the DRGN platform is expected to start completely this year.
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