During the initial days, Dragonchain was a private blockchain platform developed by Disney for their internal company use. Disney dropped the concept and changed its business module under Dragon Foundation, a non-profit entity, and converted it into an open source project. The Dragonchain platform offers simplified business integration applications by using blockchain technology, which allows users to enjoy the service with minimal knowledge on blockchain technology. To fund the project, Dragonchain also entered in the venture market with their ICO, with 433,494,437 fixed tokens. Out of which 55% was for public sale, 20% for the team, 10% for the foundation, 10% as Dragonchain reserves, and 5% for DragonFund.
Key features of blockchain
The blockchain platform is at present the most talked about technology in the world of cryptocurrency. Blockchain has many advantages, and one of the main benefits is its ability to solve the manipulation threats. The process is more democratic and requires consensus for executing a transaction. The technology is going to scrap the traditional way of doing business, especially the money market business. It works around four pillars: a decentralized process, distributed ledger, secure ecosystem, and public mining.
As per blockchain, you cannot make changes to any entered data or delete the data, but you can register another data, which will keep the original data intact. In essence, it can establish the provenance of assets, which will let you know its present status, where it is, and the development it had until it reached the current stage. So these four critical characteristics play an essential role to add to the trust level of any deal maturing through blockchain.
How does Dragonchain stand out from other blockchains?
Dragonchain stands out from other blockchain platforms for its overall ability to support and transfer more than one currency within a single chain. The architecture within Dragonchain supports with a controlled exposure to create a sensitive business data. Also, the serverless nature of the blockchain platform has made it compelling in a simple scale.
Multicurrency support, business operation protection, currency agnosticism, and simple integration are some of the features that make Dragonchain a unique blockchain platform to deal Dragon coins with similar cryptocurrency traders or users.
The team that worked on creating the Dragonchain platform has pointed out some futuristic characteristics of this particular platform that shall have a significant advantage over other systems shortly. Being a hybrid system, Dragonchain allows the businesses to own and maintain their chain.
In short, the Dragonchain runs within a trusted context that shall never allow an individual’s business data or business logic be exposed to the entire network in any way. They do have multiple types of smart contracts that make them the superior over other blockchain platforms.
- Smart contract transactions shall capture the overall business logic to approve or deny a deal from happening.
- Broadcast receipt contracts shall allow the users to execute a code that they can use while making a transaction using Dragon coins.
- Subscription contracts allow the users to execute a unique code against the subscribed data feed or transactions that come from another node.
- Scheduled contracts allow the users to program or time out a particular transaction.
- Library contracts allow the users to expose or reuse their smart utility contracts.
How to buy Dragonchain coins
Now that the Dragonchain blockchain platform has gone public, anyone can make an investment or transaction using Dragonchain coins, termed as Dragon coin, with token name DRGN for commercial/personal use. These Dragon coins are widely available to purchase, and in order to do so, one must set up their personalized digital wallets through which the Dragonchain trading can carry out.
There are many different digital wallets exclusively developed to store cryptocurrencies. The digital wallets help in securing the Dragon coins that you are planning to buy. You can do cryptocurrency transactions only through digital currency exchanges. Once you have found the right digital wallet that works for your purposes, you need to sign in and buy Dragon coins as per your need. Trading Dragon coin is also simple with these digital wallets, and it can be done for the same price rate of a Dragon coin with a low transaction fee to complete the process. The price of Dragon coins will always fluctuate and are subject to market volatility.
Potential use of Dragonchain
There are a wide range of potential uses when it comes to trading on the Dragonchain blockchain platform, where creativity is the limit. The following are some of them:
- Compliance and audit reporting
- Payment platform
- Open-source software project
- Peer to peer financial derivatives
- Smart contracts
Economics of Dragon coins
The Dragonchain blockchain platform has a limited supply of Dragons. The price of a Dragon token shall be decided by the number of tokens distributed in the market and is directly proportional to the availability of tokens in the open market. As many cryptocurrency users and traders have got their eyes all over Dragon coins, the value of them may reach higher than Bitcoin in upcoming months.
The real purpose of the Dragonchain formation
The leaders behind the Dragonchain did not try to create this particular blockchain platform as a competitor to existing Ethereum or Bitcoin platforms. They have created it to resolve some potential issues that were found to be making the blockchain platform less accessible to the public. While creating Dragonchain, the entire team wanted to build a structure that is similar to Ethereum and Bitcoin, yet make them easier to access and bring down the risk factor to create a new legacy system within the blockchain platform. The architecture behind Dragonchain resulted in creating a structure that was more secure with multiple layers of verification contexts in it.
People behind Dragonchain
The lead person behind Dragonchain is founder and CEO Joe Roets, who was previously associated with Disney, DOD, Symbiont, Bloq, FBI, Lockheed Martin, and Overstock. Other significant team members are George Sarhanis, founder and Chief Business Officer, and Brandon Kite, the Lead Developer.
Dragonchain is definitely a stable and tradable user-friendly cryptocurrency with exceptional levels of security when compared to other blockchain platforms. It offers total control of the data for the users, a feature you cannot find with other blockchain platforms. Further, all sensitive business plans and the smart contract features will be in proprietary, allowing users to enjoy the features in a fearless environment.
The best part about dealing Dragon coins is that you can trade them for any other cryptocurrencies or even keep them safe in the digital wallet and then sell them whenever the dragon coins hit the market with appreciation. Its growth potential looks immense, as per market prediction, it will skyrocket in the coming years.