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Blockchain is the digital ledger where transactions are recorded publicly and it can be accessed by all the people available on the network. In this, a user is not having complete control over the data as it is available in the public ledger which can be visible to all the users if any changes or manipulation is made by any of the individuals on the network.
For this purpose, Dragonchain coin came into picture which provides the flexibility to the user to have complete control over the data which is being shared on the network. It is highly recommended for those who are more concerned about security and are dealing with sensitive data to overcome frauds/scams. It is highly used in real estate and law to maintain the privacy of the data. Apart from that, it has started being used by the gaming industry too.
It is created to resolve the issues of Bitcoin and Ethereum which are not issues but with the use of it, it makes it much simpler and easier to use.
What is Dragonchain coin??
It is a flexible public/private hybrid blockchain platform that was developed by Disney in 2014 which is a blockchain based company and ecosystem. So, Research and development were started in the year 2014 and they were initiated with the project “Disney Private Blockchain Platform” Later they were available for use at the open-source level in the year 2016. The launch of Dragonchain Foundation & Dragonchain Inc. was done in the year 2017 and once they complete the rollout, it will be available for commercial use in the year 2018 but dates are not yet finalized.
It deals with sensitive data and based on smart contracts functionality.
The team behind Dragonchain coin
Their team involved eight members, including Joe Roets as the CEO and Chief Architect. He worked as a full-time employee for Disney and was later involved completely in the full-time development of the DRGN platform.
Apart from that, the rest seven members involved four core developers and three business and marketing professionals. Also, they involved board members who are available as strong supporters. Two strong members in that board of which one is, Jeff Garzik who is experienced in blockchain technology and another one are, Ed fries worked as VP of game publishing at Microsoft and co-founder of Xbox.
Benefits of the Dragonchain coin
– Privacy
– Coding Flexibility
– Open Source
– Easy to use
– Secured platform
What makes DRGN unique to other coins?
It could be many things but the points mentioned below are the ones which grabbed all users attention and hence makes DRGN unique.
– Limited Exposure to Smart contract data
– Secured for sensitive data
– Serverless System via Amazon Web Services ( AWS )
– Scalability
– High-Level currency implementations
– It owns incubator and marketplace
– Multiple currency support on one chain
How does Dragonchain work??
It consists of three components which include:
– The platform
It is the platform where developers can deploy blockchain applications rapidly and securely along with maintaining the existing language development environments such as Java, Python, C# etc. It involves five levels of network consensus to maintain the customer trusts.
– Crowd-scaled Incubator
It is the place where companies develop blockchain projects and then these projects are reviewed by crowds from different places and that crowd involves investors and experts from different places. Due to this, the project is able to make their own value in the market by launching itself via these processes.
– Marketplace
It leverages the ecosystem as it is the place to access and enter the library which includes all the pre-developed smart contracts. It allows access to critical resources such as qualified vendors, specialized experts, and incubated projects.
Where to buy and store the coin?
It can be available at the below exchanges from where investors can purchase it.
– KuCoin
– EtherDelta
– CoinExchange
– Gate.io
– Tidex
– Bancor network
– Token Store
To store DRGN which is an ERC-20 token, a user can use MyEtherWallet or MEW and if the user wants to save these coins offline then the hardware wallet named Trezor or Ledger Nano S can be used.
Future of Dragonchain Coin…
Though, Dragonchain coin has some challenges such as Technology and marketing due to which it’s difficult to get adopted by a huge amount of users and acceptance of the coin is also challenging when already major competitors are available in the market such as Bitcoin, Ethereum, Litecoin etc.
It is built in Seattle which is one of the most developed technology hubs all over the world and they raised the funds out of which 55% are raised via ICO’s and the rest 20% from the team, 10% from the foundation, 5% from the Dragonfund and remaining 10% from the Reserve. It is a developer-friendly platform that provides security due to a non-profit feature that will soon become commercial. It will be interesting to see how it grows in the coming future.
Image courtesy: Dragonchain
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Disclaimer: At CoinTopper, we like to cover interesting products and share them with our community. This article is for educational purposes only and is not sponsored or endorsed by the project team.