Connect with us

Altcoin News

What is DragonChain?



Uploaded ToWhat is DragonChain?

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 that provides on-demand cloud computing platforms).

(adsbygoogle = window.adsbygoogle || []).push({});

DC2 - What is DragonChain?

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.

DC3 - What is DragonChain?

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.

DC4 - What is DragonChain?

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

DC5 - What is DragonChain?

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.

(adsbygoogle = window.adsbygoogle || []).push({});

DC6 - What is DragonChain?

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.

DC7 - What is DragonChain?

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:

DC8 - What is DragonChain?

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
  • 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”.

(adsbygoogle = window.adsbygoogle || []).push({});

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.

DC9 - What is DragonChain?

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.

Original Article click here

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at

Continue Reading

Altcoin News

Bitcoin Gold Rich List Is What Is Influencing The Current BTG Price




bitcoin gold rich list
As we reported last month, a single whale is holding a significant portion of Bitcoin Gold (BTG) which is put to circulation - and this whale is directly influencing the price of BTG. There were two blockchain re-organizations on the Bitcoin Gold blockchain so far, due to a secret 51% attack that took place recently. However, one glance at the Bitcoin Gold rich list shows that a new soft fork concept known as the  “Cross-Chain Block Notarization Protocol” (CCBN), was recently introduced to prevent further attacks. Basically, the Cross-Chain Block Notarization Protocol (CCBN) leverages the Notary Chain. Here, the Notarizations consist of complete BTG block headers, including the solution hashes which cannot be faked. So, when a secret miner notarizes the blocks, it becomes public and if the mining entity does not notarize, it will publish the secret chain. An attack, therefore, will be prevented due to the low weight. Additionally, the Bitcoin Gold rich list made it possible for all of these changes to be implemented. A research found that roughly 11 million BTG is either lost forever or inactive. This is mainly due to the fact that a lot of BTC (nearly 10.7 million or more) has not been moved ever before. Anyways, the Bitcoin news and Bitcoin Gold news are what is catching the attention of the crypto community for some time, mainly because of these reasons. And because of all this, researchers have estimated that there is nearly 7 million BTG in the market. However, the true value is somewhere near 4 to 5 million.
Sydney Ifergan, the crypto expert, tweeted:  “A Bitcoin Gold (BTG) rich list probably is considered to influence the price.  Researchers opine that small fishes should follow the big whales to avoid getting bitten.” The organization Bitcoin Gold recently tweeted:
 “$BTG is a community project, you decide what matters, and we listen to you. Many have asked about a #USDT pair in #Binance. Together we can make it possible, help us by signing the petition. We want 5000 signatures!” Also, the Bitcoin Gold network will halve at 210,000 blocks. The BTG halving event is expected to take place on Saturday, April 18 2020, at the block height of 630,000. The network block rewards will go down from 12.5 to 6.25 coins after the halving event.
Continue Reading

Altcoin News

Venezuelan President Airdrops Petros To Doctors Amid Collapse




venezuelan president airdrops
Nicolas Maduro is the Venezuelan president known as the former bus driver and one of the most radical leaders of the country. As of recently, we can see that the country has taken steps to protect itself against the coronavirus but also award the doctors in the same way. In that manner, the Venezuelan president airdrops one Petro (the national cryptocurrency) to each doctor. The 'Doctors of the Homeland' initiative will see each Venezuelan doctor getting one Petro air-dropped by the administration's oil-backed Petro cryptocurrency tokens, as an April 2 tweet published by a government official showed. The tokens will be distributed through the 'Patria System' that Venezuela uses - or a platform which is launched by the government to bypass the nation's failing banking system and issue bonuses and subsides using the cryptographic token. In the cryptonews, Petro tokens are purportedly pegged to the price of one barrel of Venezuelan oil. Following a crash down to 18-year lows during March, the price of oil bounced 20% in the past day to currently trade at around $27 per barrel. While the Venezuelan president airdrops Petro to the doctors in the country and claims that one such coin is worth roughly $60, the exchanges and trading platforms used by Venezuelans currently list the token for roughly $20 to $26. However, given that the monthly minimum wages in the country equate to $3.61 plus $2.89 in food stamps, doctors are estimated to earn a little more. In a scenario like this, one Petro could equate to several months of work. As many analysts said in the altcoin news lately, the fact that the Venezuelan president airdrops Petro is a good move - but perhaps a better option would be to hand the coins directly to Venezuelan Hospitals, most of which are ill-equipped to cope with the coronavirus pandemic. On April 1, a report from Vice showed that soap and disinfectant are "luxuries" at the Caracas University Hospital. The shortages in protective equipment will certainly make the staff overwhelmed as the number of confirmed COVID-19 cases grows. “My fear is that we won’t have supplies next week when cases are expected to spike,” said the university’s head of infectious diseases, Maria Landaeta.
Continue Reading

Altcoin News

Judge Denied Request To Issue Gram Tokens To Non-US Investors




judge denied
A federal judge denied the request to issue the gram tokens to non-US investors as Telegram wanted. In our crypto news below, we see what’s the reason behind the decision. The US District Judge denied the request by Telegram and wrote that the claims of the platform to issue tokens to investors but ensure these tokens don’t end up in the US, were quite unconvincing and therefore he rejected the request, wanting to clarify the earlier preliminary injunction preventing the issuance of gram tokens. The order came with the latest developments of the six-month-long court battle between Telegram and the US Securities Exchange Commission which asked the court to stop the launch of the messaging app of the TON blockchain project and prevent Telegram from issuing more tokens to the buyers of the 2018 token sale. With the lack of SEC’s jurisdiction over the Non-US investors, telegram suggested they will implement security measures to protect the investors from reselling Grams to US purchasers in the future. The platform aimed to do that by including a condition that the non-US investors will only receive Grams if they are not going to resell them in the US:
 “Focusing upon the Initial Purchasers and their Gram Purchase Agreements misses one of the central points of the Court’s Opinion and Order, specifically, that the 'security' was neither the Gram Purchase Agreement nor the Gram but the entire scheme that comprised the Gram Purchase Agreements and the accompanying understandings and undertakings made by Telegram, including the expectation and intention that the Initial Purchasers would distribute Grams into a secondary public market.”
The Judge also didn’t like the proposed measures and wrote that Telegram didn’t explain how this could prevent the secondary sale of the tokens:
 “... [F]undamentally, the TON Blockchain was designed and is intended to grant anonymity to those who purchase or sell Grams. Investors "could simply disclaim having a U.S.-based address.’’
The order also pointed out the jurisdiction of the SEC which was not raised by Telegram before. The blockchain attorney Gabriel Shapiro explained that the judge understands the nature of the technology and outlined the importance of Telegram’s underplaying the importance of request for clarity:
"I think it's clear that Judge Castel agreed fully with the SEC that Telegram's post-injunction arguments about extraterritoriality are 'too little, too late. His response to Telegram's 'request for clarification' also displays admirable technological savvy and skepticism, as he recognized that Telegram's offer to KYC-gate the TON wallet does not fundamentally limit the distribution of GRAMs through other possible wallets built on the open-source TON blockchain protocol."
Continue Reading

Altcoin News

Maker Raised $5.3 Million To Restore DAI Deficit




maker raised
Maker raised $5.3 million in MKR coins in an auction to restore the DAI deficit as we are about to find out more in the MakerDao news. Maker raised the money to negate the Dai deficit that was caused by ‘’Black Thursday’’ but despite the successful auction, MakerDAO still faces a hard time ahead to regain the users’ trust after the harsh market conditions during March. After the auction, the MakerDAO raised enough money to negate the protocol’s debt since the Free collateral auctions on the ethereum network congestion period were the ones that caused the deficit in the first place. The auction that was conducted by the MakerDAO platform was meant to sell the MKR tokens to anyone that wanted to bid the highest for it. if more bidders took part in the auction, trying to secure some coins would have been a signal that the investors still trust the ability of the platform to dominate DeFi.  Paradigm which is a crypto-based investment firm and MKR holder announced that they won 72 of the 106 auctions which represent 68% of the total number of actions. The Block also found that the Maker Foundation won 33 rounds of the auction. This means that Paradigm and the Maker Foundation won 105 out of 106 auctions together leaving only one auction left. We still don’t know if both entities bid to win the auctions aggressively or if nobody else was willing to match their bid prices. There were 33 unique addresses that bid in the MKR auction and many of them belonged to a single entity. The last auction received a bid for 3,090 DAI per MKR while the second signs were that the confidence in the system had not returned yet. Since March, DAI Dropped below $1 and has traded between the $1.01 and $1.04 levels ever since. This provides unique arbitrage opportunities but it is also risky since a stablecoin that doesn’t follow its peg is unhelpful. MakerDAO governance actions aim to incentivize the users to sell DAI in the open market and to restore the parity but failed to generate meaningful results.  The governance is now in the hands of MKR holders since the Foundation transferred the totality of its power to the token.
Continue Reading


For Updates & Exclusive Offers
enter your email below



cryptocurrency review
FO5F93F47156 - What is DragonChain?


Medium Rectangle 300 200 2 Animated - What is DragonChain?


oasistrade banner


300 250 - What is DragonChain?
FO710FC3F2305 1 - What is DragonChain?


300 600 3 - What is DragonChain?

Trending Worldwide