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What is DragonChain?

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DragonChain is a blockchain-based company and ecosystem originally developed by Disney in 2014. The project started as the “Disney Private Blockchain Platform” and was later released as open-source software in 2016.

DragonChain currently operates as a nonprofit but will launch as a commercial enterprise (DragonChain Inc.) once the platform is fully rolled out.

What Does DragonChain Do?

In general terms, the purpose of DragonChain is to help companies quickly and easily incorporate blockchain into their business applications. Many companies might be interested in making this transition because of the benefits associated with serving clients over a blockchain – increased efficiency and security for transactions, a reduction of costs from eliminating potential fraud and scams, etc.

More specifically, DragonChain is providing the serverless ecosystem that allows companies to start using blockchain applications in an easy, private, and secure way. They aim to give businesses a “turn-key” product that is compatible with the development stack that companies are currently used to like Java, C++, and Python. This means that businesses will now be able to build their own smart contracts (on the DragonChain platform) using common programming languages.

To look at a complete list of attributes for the DragonChain ecosystem, we’ll reference the DRGN whitepaper:

  • Serverless system and smart contracts
  • Established language support for smart contracts (Java, Python, Node, C#, Go, etc.)
  • Scalable – Amazon AWS and Google deployments
  • Secure – Protection of business data and operations
  • Advanced currency implementations
  • Smart contract libraries
  • Currency Agnostic

These key properties, discussed in more detail later, are what make up the environment for businesses to easily run their decentralized applications on. The properties work in combination to deliver lower development costs, faster speed to market for company projects, higher scalability for those projects, and significantly heightened levels of security.

How Does DragonChain work?

The DRGN ecosystem consists of three key components:

1) The DragonChain Platform

The Platform can be thought of as the backend aspect of DragonChain that stores and secures business-client data. This is where developers can create and store Smart Contracts in common programming languages. Also included in the platform is access to Amazon Web Services (a subsidiary of Amazon.com that provides on-demand cloud computing platforms).


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2) The DragonChain Crowd-Scaled Incubator

The Crowd-Scaled Incubator is where companies will be able to easily develop their blockchain projects by following DragonChain’s standardized process.

The “crowd-scaled” aspect of the incubator is meant to be of major benefit to company projects. This means that, after a business develops their blockchain project in the incubator, they can have it reviewed and scaled by a crowd consisting of people/investors from all over the world. If successful, the incubation process works to drastically reduce the resources needed for a client to get exposure on a developing project.

In terms of outcomes, the crowd-scaled incubator aims to allow business projects to launch and start producing market value much quicker. On DragonChain’s website, you can see that they’re currently taking applications from businesses looking to start their commercial platform and incubation process.

DragonChain currently has 5 projects under incubation: Look Lateral – Liquid Art, Seed2You, LifeID, IDPay, and ClevX.

More information on each of these projects is available in the DragonChain whitepaper.

3) The DragonChain Marketplace

Lastly, the DragonChain Marketplace is a support system for client companies. Here they can access a pool of verified Subject Matter Experts on topics like crypto, marketing, and software development. The Marketplace is also where DragonChain clients access the library of pre-developed smart contracts.

Together, these 3 components (the platform, the incubator, and the marketplace) make up the DragonChain ecosystem. The ecosystem is fueled by the Dragon Coin (DRGN), a token that is micro-licensed to serve as credit for each of the service components.

What sets DragonChain apart?

Chiefly, DragonChain aims to resolve the issue of existing platforms restricting the creation of truly secure and scalable blockchain applications in real-world business use cases.

Ethereum, for example, provides customers with an ecosystem that runs Dapps and Smart Contracts. DragonChain serves a similar purpose but is designed to be more secure than the Bitcoin and Ethereum protocols.

DragonChain’s whitepaper makes a point to emphasize the level of security proposed by their blockchain. Included in the DRGN platform is a system of five standardized levels of consensus. Security increases as the verification level for a block increases. These five levels are:

  1. Business (Approval) Verification
  2. Enterprise (Validation) Verification
  3. Network Diversity Verification
  4. External Partner (Notary) Verification
  5. Public Checkpoint Verification

This form of layered security works to add another dimension to the common blockchain model. DragonChain suggests thinking about their levels of consensus model as a “blockchain of blockchains.”

Which Industries Does DragonChain target?

Since the blockchain aims to replace traditional contracts and payment systems with a more secure process, industries that currently suffer from fraud/scams have high potential to benefit. This means that companies dealing in real estate or law, for instance, could remove significant losses to fraud through Smart Contracts within DragonChain’s ecosystem.


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Another potential use case is found in the gaming industry. FlowPlay, a gaming company with over 75 million users, wants to use DragonChain tokens to allow gamers to safely purchase virtual items. This will effectively create the first non-trust based marketplace for virtual goods, guaranteeing legitimacy.

A few more intuitive use cases of the platform include auditing, booking/reservations, and voting systems. To see a full list, reference this page made available by Disney.

Who’s on the DragonChain Team?

The DragonChain team is composed of eight members with Joe Roets as the CEO and Chief Architect. He formerly worked for Disney before leaving to commit full-time to the development of the DRGN platform. Joe Roets is also noted for his involvement in projects at Coinbase and Overstock.

The rest of the team consists of four core developers and three business/marketing professionals. More information on each member and their involvement is available on the DragonChain website.

Additionally, the team has a strong advisor board behind them. Jeff Garzik is likely their most experienced advisor in terms of blockchain technology. He serves as an established icon in the Bitcoin network and founded the blockchain company, Bloq. Another significant advisor is Ed Fries; VP of game publishing at Microsoft and Co-Founder of Xbox.

Token Distribution

Total Supply: 433,494,437 DRGN

Circulating Supply: 238,421,940 DRGN

The DRGN coin was offered on October 2nd, 2017 at .0663 USD at the ICO and surpassed $4 by January of 2018.

Public tokens make up 55% of the total tokens with the remaining 45% distributed accordingly:

Dragon Slumber Score

DragonChain offers benefits for those that hold their coin in the form of a Dragon Slumber Score. The more DRGN coins you own and the longer you hold them, the higher your Slumber Score will be.

A higher Slumber Score rewards you with a greater extent of the following benefits:

  • Everyone: bonuses for company ICOs in the future
  • Business Owners: discounts on smart contracts available in the DragonChain marketplace as well as other forms of tech that DragonChain plans to offer in the future

Where Can I Buy DragonChain?

DRGN is not mineable, but you can purchase it on the following exchanges:

  • KuCoin
  • CoinExchange
  • Gate.io
  • Tidex
  • Bancor Network
  • Token Store

A lot of the exchanges on this list are rather uncommon, leaving room for potential price jumps if DRGN gets adopted by larger exchanges like Binance. Of the exchanges on this list, KuCoin has the highest trading volume for DRGN by a large margin. Using KuCoin in this case then will allow your DRGN trades to be processed and fulfilled much quicker.

Where to Store DragonChain?

DRGN is an ERC-20 token so there are several options for where to store it, namely in an ERC-20-compatible wallet. If storing your tokens in an online ERC-20 wallet, DragonChain recommends using MyEtherWallet or “MEW”.


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If you’re looking for a more secure and offline method to store DRGN coins, you should look into using a hardware wallet like Trezor or the Ledger Nano S. Both wallets support all ERC-20 tokens including DRGN.

Final Thoughts

DragonChain’s platform is establishing a niche in the crypto world with its layered security feature. The 5-layer security model adds great credibility to their overall goal of facilitating business integration into the blockchain.

Additionally, DragonChain is seen as a strong rival to Ethereum because of the platform’s ability to scale; an issue that Ethereum has been notorious for. From a financial standpoint, if DragonChain is to rival Ethereum, then there is plenty of room for growth in the DRGN Market Cap. Ethereum’s market cap is currently over 120 times that of DragonChain’s.

As of January 2018, the DragonChain team is raising funds and finishing development of the platform. Although the exact date is currently unannounced, the DRGN platform is expected to fully launch sometime this year.

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Altcoin News

Crypto Custodian BitGo Hires Xapo Vice President As New CRO

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crypto custodian bitgo
The digital asset trust and security company named BitGo has recently appointed the wallet provider Xapo's former senior vice president as its new chief revenue officer (CRO). The crypto custodian BitGo made the new hire recently, naming the former Xapo official Pete Najarian as its new CRO. The finance media outlet Finance Magnates reported the news on August 19 - which later spread to many best cryptocurrency news sites. According to the reports, Najarian will not serve as BitGo's CRO and will report to the chief executive officer (CEO) of the company, Mike Belshe. When commenting on the appointment, the CEO Belshe said:
“Pete has a deep understanding of capital markets and an exceptional breadth of experience in financial services. This makes him a perfect partner for institutional investors who are entering the cryptocurrency market. We’re building the financial infrastructure of the future and Pete’s experience in both traditional financial markets and cryptocurrency will be critical.”
The crypto custodian BitGo is one of the more stable companies out there - and Najarian's knowledge and skill set will definitely help the company. According to his LinkedIn profile, we can see that Pete Najarian has previously served as the global head of emerging markets sales at the Royal Bank of Scotland and has also been head of institutional client coverage - APAC at the financial services firm UBS (as well as other positions). Before this, the latest cryptocurrency news also showed that the crypto custodian BitGo has been expanding its presence to Japan this month - and is planning to substantially grow its Japan-based team. The expansion follows hiring a sales director for the Tokyo office of the firm. In May this year, the crypto custodian BitGo appointed a veteran Wall Street trader named Nick Carmi as its head of financial services - a hire which ostensibly intends to forge stronger connections between digital assets as well as the traditional financial sphere. Meanwhile, the latest Bitcoin and coming altcoin news show that there is a mix of greens and reds in the market, with the reds being more dominant as the crypto market suffered from another dump this Tuesday.
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P2P Dash And Bitcoin Transactions Skyrocket In Venezuela

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p2p dash and bitcoin
P2P dash and bitcoin transactions soared in Venezuela after the country’s inflation rate reached 130,000% in 2018 as we previously read in the altcoin news. For the past few years, the economy in Venezuela was rocked by economic and political instability and has even led to shortages of medicine and food, blackouts, riots and massive hyperinflation that rivals that of the Zimbabwe dollar back in the 1990s. Venezuela had the highest inflation rate of 2018 when it reached its peak of 130,060% and in May the country’s central bank publicly published economic data for the first time since 2015 which shows that the inflation rate in 2016 was 274% and 863% in 2017 but then reached 130,060% in 2018. The hyperinflation in Venezuela is so bad at the moment and most of the citizens have to spend all of their money immediately because if they hold it for too long, in the next few days the currency will continue to lose value against the rising price on daily basis. The majority of the people in the country do not trust the national currency and in the past, the people who were unable to spend their income on the spot were trying to find gold or buy US dollars as a hedge against inflation. Both of the options carry so many risks as organized crime and price gouges are always prepared to take advantage of people who hold physical currency. The cryptocurrencies are easier to gold which is why they have become a safer option embrace by the growing number of Venezuelans. This is one of the reasons why P2P dash and bitcoin transactions increased since they are both popular mediums of exchange and store of value currencies. A study from the Ledger Journal investigated the role that the number one cryptocurrency played in countries that have economic uncertainty and contributing analyst Jackie Johnson noted for the latest cryptocurrency news:
‘’In countries where residents are under pressure from economic mismanagement, Bitcoin trading becomes critical. Two factors drive Bitcoin trading: one, there is pressure to purchase Bitcoin using local currency before it loses even more value; and two, there is a need to redeem for the local currency either past purchases or purchases made outside the country by friends/family, enabling residents to cope with rising prices. This results in an increase in Bitcoin trading in the local currency.’’
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Trading Platform Giant Binance Announces The Launch Of Venus

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Trading platform giant Binance announced the launch of the new Venus cryptocurrency which as explained is the regional version of Libra so let’s find out more in the altcoin news below. The world’s trading platform giant Binance will launch Venus saying it is an independent regional version of Libra according to the announcement made earlier today. Binance noted that it is going to launch Venus because it has a presence in several countries and has its own blockchain Binance chain in place as well as the goal to break the financial hegemony and reshape the entire financial system of the world:
 “We believe that in the near and long term, stablecoins will progressively replace traditional fiat currencies in countries around the world, and bring a new and balanced standard of the digital economy. We hope to achieve a vision, that is, to reshape the world financial system, allow countries to have more tangible financial services and infrastructures, protect their financial security and increase the economic efficiency of countries.”
Venus is an open blockchain project that will develop localized stablecoins and digital assets pegged to fiat currencies so Binance will start providing full process technical support, compliance risk control and multi-dimensional cooperation network in order to build the new cryptocurrency but also will leverage its existing infrastructure and regulatory establishments according to the co-founder of Binance. The exchange also noted that they welcome more governments, companies, and organizations that have a huge influence on a global scale in order to collaborate with it for the new Venus initiative. Facebook’s cryptocurrency Libra has a similar structure. The goal is to serve the unbanked people and to facilitate low-fee money transfers around the world. Libra is expected to go live in the year 2020 but it has already faced scrutiny from many banks and politicians around the world. Facebook has stated recently in a risk disclosure filed with the Securities and Exchange Commission that Libra will never launch because there is no significant regulatory scrutiny. Binance, on the other hand, stated that it believes that Libra will grow at an exponential rate and will, therefore, reshape the world financial system. They also noted that Libra could bring changes more than the Internet did as per the announcements that we have in the latest cryptocurrency news:
“Instead of resisting change and losing the opportunity, it is better to embrace change. […] At the same time, ‘Libra’ needs to be developed in an orderly manner under the regulatory framework.’’
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Bitcoin Breaks Resistance As Other Altcoins Awaken This Monday

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Bitcoin Breaks
Bitcoin breaks resistance as this new week starts and forms a totally different pattern after spending the entire weekend consolidating above $10K. Now the altcoins as well are making all the moves to the upside so in today’s altcoin news we find out whether this could be the start of the big revival for the cryptocurrencies. For the larger part of the past 24 hours, the bitcoin price remained sideways at about $10,000 and has kept it above the 50-hour moving average but now below the 200 where the next level of resistance lies. There are also no moves back into the four figures field since the slight dip below $10 on Saturday. When the Asian trading session started in the afternoon, bitcoin has started to move with it with a further push to the upside. Over the past hour, bitcoin has lifted out of his previous position and touched the 200 MA on the hourly timeframe. This has taken the number one cryptocurrency up to a five day high of $10,700 according to tradingview.com. On the 4-hour chart, BTC has touched the 50 moving average which is about to start the death cross over the slower 200 if the downtrend continues. The indicators are currently providing the resistance point. In a rare move, the altcoins actually started making plans before bitcoin’s run-up to the next resistance level. Bitcoin breaks the resistance and Ethereum is now chasing down the $200 again in a 7% surge on the day. The Further gains are looking as if Bitcoin has now started to also run-up. XRP made some gains of about 8% on the day taking it to the $0.288 so now it only has to reclaim the $0.30 position and hold the gains before any bigger upswings occur. On the other hand, Litecoin also did very well today adding about 7% to reach $78 as it successfully got out of the LTC dusting attack. Most of the altcoins which are in the top ten list, added more than 5% at the moment as total market capitalization reached up to $277 billion at the time of writing as we saw in the latest cryptocurrency news.
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