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What 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 Amazon.com that provides on-demand cloud computing platforms).




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.




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”.




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.

Original Article click here

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Monero Surges 12% In A Crypto Recovery

The 11th largest cryptocurrency with a market cap of nearly $3.6 billion, Monero, jumped more than 12% over the past 24 hours, rising to a price of $233.74. The privacy-centric currency is now closer to the 10th-placed IOTA which has a market cap of more than $4 billion.

By gaining $1 billion this week, Monero has began the week with a price of $167.78 and a market capitalization of $2.66 billion. The cryptocurrency has recovered the capitalization it gave up over the past month – making the price reach $233 with a market cap of $3.732 billion.

However, experts say that Monero still has a way to go in order to reclaim the price that it had on January 20th  – $389 – with a market cap of $6 billion.

What’s interesting is that Monero was among the many cryptocurrencies that helped the market climb to $334 billion this week. While Bitcoin did not measure any specific growth, it was Monero and Ethereum that led the way to new gains.

If you are wondering what made this improvement in terms of price for Monero, there are a couple of factors. The most obvious one, however, is the fact that the cryptocurrency activated its semi-annual hard fork this April 6th, bringing a host of new upgrades. Still, one of the major upgrades threatens to split the network into two competing chains.

Earlier this year, Monero announced its intention to update its instance of the Cryptonight Proof-of-Work (PoW) mining algorithm – in order to prevent mining hardware manufacturers from developing Monero-compatible Application Specific Integrated Circuit (ASIC) miners.

Speaking of, ASIC chips maximize the efficiency to such an extent that mining with GPU miners becomes no longer profitable.

 

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Litecoin Price News: How Is Litecoin (LTC) Doing This Week?

We all know that Litecoin is one of the best performing cryptocurrencies on the market. For that, it is also linked to Bitcoin and seen as “the new Bitcoin”. However, over the past few months, the Litecoin price has been sinking (just like many other cryptocurrencies).

Fortunately, the cryptocurrency market has been trading well over the past few weeks – making Litecoin outperform many other digital tokens.

The 9.44% climb of Litecoin has tripled the gains of it – when compared to competitors such as Ripple and Ethereum. Currently, Litecoin is trading at $136.91, soaring above the rest of the pack.

Meanwhile, Bitcoin rose 1-2% to trade above $8,100 and Ethereum is trading at $523. Ripple is also seeing a strong trade at $40.669. However, Litecoin is growing above all of them and has been performing great lately.

With this in mind, we can safely say that 2018 has not been the kind of cryptocurrency market we expected. Just like most of the cryptocurrencies in the top 10 list, Litecoin has suffered a lot and had a poor first quarter – making more than 50% of its value to wipe off in just three months.

However, the situation now is a lot better – and the cryptocurrency is in good stead to continue on a bullish trend in the short-term. The founder Charlie Liee also cautioned buyers of the present risks on a volatile market and advised:

“If you can’t handle Litecoin going to the high, then don’t invest. Long term is good, short-term – no one knows!”

Litecoin is also available on more exchanges in 2018, after the South Korean exchange Korbit accepted the cryptocurrency among the ‘big fish’.

 

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Brazil’s Largest Investment Firm Plans To Launch A Crypto Exchange

The largest investment firm in Brazil, XP Investimentos, is now overlooking the crypto space and actively figuring out how to launch a cryptocurrency exchange. As a financial services company that manages over $35 billion for over 500,000 clients, the firm is not linked to cryptocurrencies in any possible way. However, this may change real soon.

According to Brazil’s Department of Federal Revenue, XP Investimentos recently registered XDEX INTERMEDIACAO LTDA – a company with around $7.3 million in registered capital.

The newly available data shows that this company was initially registered in August 2017. During the month of November, when most of the cryptocurrencies were surging, the exchange got its capital and turned to XDEX.

The local Brazilian news outlet Portal do Bitcoin confirmed this data and showed that this company is linked to XP Investimentos. However, there is still a lot that is unknown about this new cryptocurrency exchange. As Portal do Bitcoin states in a post on their website:

“It is not yet known what services the new exchange will provide. A source, who did not want to be identified, said that the action will be in the so-called over-the-counter market. That is: focused on movements of large volumes of capital and BTC.”

What’s most interesting in the entire situation is that XP Investimentos has been researching the crypto space for a while. In October 2017, they revealed that they registered the “XP Bitcoin” brand. One month later, they hired Fernando Ulrich who is a Brazilian cryptocurrency expert.

In Brazil, there are a lot of ‘rival’ associations in the crypto space. Even though associations are not yet certain on how cryptocurrencies should be regulated in the country, the president of one of these associations, Fernando Furlan, recently said:

“There is legal uncertainty. Depending on the purpose, it may be considered a means of payment or a financial asset. “

All in all, XP Investimentos’ move may come at the right time. After Brazil’s largest crypto exchange Foxbit went down for over 72 hours.

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Stellar Lumens (XLM) Price Analysis: Can It Stand The Test Of Time?

We are living in an era when the cryptocurrency market capitalization is coming down – and Bitcoin (BTC) is dominating the virtual currency game with the highest market cap. The tax deadline season is also right around the corner and finishing today.

It seems like the crypto market knows how to respond to periods and trends like this. On April 1st, the entire market cap dropped below $250 – but right now is more than $300 billion after Bitcoin had one of the biggest one-hour trade volumes in history.

However, we are focusing on a newcomer here which has been making headlines for some time now. Its name is Stellar (XLM) and currently, it is ranked at the 8th spot. The changes and price fluctuations for Stellar are minor – going around the $0.28 price.

The coin is apparently having a selling pressure which puts the price up and down. One Stellar investor from Queensland confirmed this online, stating that:

“Right now the coin is having a selling pressure with the RSI almost nearing to an overbought situation. The MACD indicators are moving towards a crossover which means that at that point a change in the trend can happen. Im not very sure about Stellar as of now. The support should hold the coin intact.”

More and more people continue to believe that Stellar (XLM) has a massive potential. Users and traders believe that $0.30 is the next milestone – with $0.38 to follow. For a long time, Stellar Lumens is an undervalued coin – and this needs to change.

With the current three-week surge in price, this may be more than just a reality. In a poll, 62% of Stellar respondents believe that the coin has already shown great potential but died out recently. 38% of them desire to wait for an uptrend that will kick in and ramp up the price of Stellar – to a dollar by the end of this year.

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