Dragonchain

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Discover Dragonchain's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Dragonchain?

Dragonchain (DRGN) is a utility token for a hybrid blockchain platform designed for enterprises and developers. It allows for the rapid deployment of blockchain applications while maintaining existing language compatibility. The platform features a unique consensus mechanism, scalability, and quantum-safe capabilities, making it suitable for various business use cases.

How is Dragonchain used?

Dragonchain (DRGN) is a cryptocurrency used on the Dragonchain platform, which is a hybrid blockchain system designed for businesses. The platform provides a range of features and tools to simplify the integration of real-world business applications onto a blockchain. Here are some key ways DRGN is used:

  1. Interacting with Commercial Services: DRGN tokens are used to interact with the commercial products and services offered on the platform. This includes accessing various business applications and tools that leverage blockchain technology.

  2. Node Operations and Consensus: DRGN tokens are rewarded to users or organizations that run public or private nodes, contributing to the network consensus. This incentivizes participation in maintaining the blockchain network.

  3. DragonFund Incubator: DRGN tokens support projects in the DragonFund Incubator, which provides early access to technology and data from incubating projects. Long-time Dragon holders have priority access to token sales launched on the platform through a "slumber score" loyalty program.

  1. Developer Incentives: DRGN tokens are used to reward and incentivize developers who contribute to Dragonchain's open-source codebase and related projects. This encourages adoption and development within the developer community.

Overall, DRGN tokens play a crucial role in facilitating interactions, incentivizing participation, and supporting the growth of the Dragonchain ecosystem.

How do I store Dragonchain?

To store Dragonchain (DRGN) tokens, you can use the Dragonchain Wallet App, which is available for both desktop and mobile devices. This wallet allows you to manage your DRGN tokens along with other cryptocurrencies like Ethereum, XRP, Litecoin, and over 1000 other coins and tokens. The app is trusted by over 5 million users worldwide.

How to buy Dragonchain?

To buy Dragonchain (DRGN) tokens, follow these steps:

  1. Choose an Exchange: Select a reliable cryptocurrency exchange that supports DRGN, such as gate.io, Uniswap V2, or StealthEX.

  2. Fund Your Account: Deposit funds into your exchange account using a method such as Tether (USDT) via P2P trading to avoid fees.

  3. Select DRGN: Navigate to the exchange's DRGN market and select the amount you wish to purchase.

  1. Complete the Purchase: Confirm your purchase and wait for the DRGN tokens to be credited to your exchange wallet.

Alternatively, you can also use a decentralized exchange (DEX) by connecting your crypto wallet and trading Ethereum for DRGN.

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History of Dragonchain

Dragonchain, represented by the token DRGN, has a rich history that began within The Walt Disney Company. The project was originally known as the Disney Private Blockchain Platform and was developed in Disney's Seattle office in 2014 and 2015 by Joe Roets and his team of developers. In 2016, Disney open-sourced the platform, marking a significant milestone in its evolution.

Following its open-sourcing, the Dragonchain Foundation was established in 2017 to onboard commercial launch partners. The same year, Dragonchain conducted a highly successful token sale, raising approximately $13.7 million in bitcoin and ether. This sale laid the groundwork for the project's rapid growth, with its market capitalization reaching over $1.1 billion by January 2018, making it one of the fastest-growing blockchain platforms at the time.

Dragonchain's hybrid blockchain platform is designed for small businesses, enterprises, and developers, offering a range of features such as interoperability with external blockchains, quantum encryption, and smart contracts that can be written in various programming languages. The platform has been used in several real-world applications, including Covid-19 tracking and supply chain management.

The Dragonchain community plays a crucial role in the platform's validation and notary services, with node runners earning rewards based on their participation. The project has also been involved in various partnerships and collaborations, including with notable companies like Goldman Sachs and Morgan Stanley.

Today, Dragonchain continues to evolve and expand its capabilities, solidifying its position as a significant player in the blockchain industry.

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How Dragonchain works

Dragonchain (DRGN) is a hybrid blockchain platform designed to simplify the integration of real-world business applications onto a blockchain. It provides a commercial platform for application developers to rapidly and securely deploy blockchain applications while maintaining existing language skills. Here are the key aspects of how it works:

Incubator and Marketplace

Dragonchain offers an incubator and marketplace ecosystem where developers can access pre-built library smart contracts, qualified vendors, specialized experts, and incubated projects. This ecosystem supports the development and deployment of blockchain applications.

Blockchain Technology

Dragonchain is an ERC-20 token, which means it runs on the Ethereum blockchain. This allows it to leverage the security and scalability of Ethereum while providing its own unique features. The platform aims to launch its own blockchain in the future.

Key Features

Dragonchain offers several key features that make it attractive for businesses:

  • Easy Integration: It allows developers to integrate blockchain technology into their existing applications without requiring extensive blockchain expertise.
  • Data Protection: Dragonchain provides protection for business data and ensures that sensitive information remains secure.
  • Fixed 5-Second Blocks: The platform processes transactions in fixed 5-second blocks, ensuring fast and efficient processing.
  • Currency Agnosticism: Dragonchain supports multiple currencies, making it versatile for various business needs.
  • Interoperability: It enables seamless interaction between different blockchain networks.
Token and Wallet

The DRGN token is the native cryptocurrency of the Dragonchain platform. It can be stored on ERC-20 compatible wallets such as MyEtherWallet and the Ledger Nano S. The token was distributed through an initial coin offering (ICO) in 2017.

Trading and Exchanges

Dragonchain tokens can be traded on various cryptocurrency exchanges, such as Kucoin and Beaxy. To purchase DRGN, users typically need to first buy another cryptocurrency like Ethereum or Bitcoin and then exchange it for DRGN.

Business Applications

Dragonchain offers a range of business-ready applications and solutions, including a learning management system, decentralized identity management, and anti-fraud and compliance tools. These solutions aim to provide transparency, security, and efficiency for various industries.

Overall, Dragonchain is designed to make blockchain technology more accessible and user-friendly for businesses, providing a robust platform for developing and deploying decentralized applications.

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Dragonchain's strengths

Dragonchain (DRGN) is a cryptocurrency that offers several strengths:

  1. Hybrid Blockchain: Dragonchain is a hybrid blockchain that combines elements of both public and private blockchains, allowing companies to adopt blockchain technology while safeguarding sensitive data.

  2. Serverless System and Smart Contracts: The platform supports a serverless system and smart contracts, which can be written in various programming languages such as Java, Python, Node, C#, and Go. This makes it more accessible and scalable for developers.

  3. Scalability and High Performance: Dragonchain is designed to handle high transaction volumes and provides instant processing of all transactions, making it suitable for large-scale applications.

  1. Security and Spectrum of Trust: The platform offers a unique security protocol that adds multiple levels of trust onto the blockchain, creating a 'spectrum of trust.' This ensures that transactions are secure and reliable.

  2. Quantum Safety: Dragonchain provides quantum-safe capabilities to safeguard sensitive data well into the future, ensuring that the platform remains secure even with the advent of quantum computing.

  3. Business-Ready Applications: The platform offers business-ready applications and developer-friendly integrations, making it easier for companies to integrate blockchain technology into their operations.

  1. Lower Development Costs and Faster Speed to Market: By using existing programming languages, developers can reduce development costs and deploy blockchain applications more quickly.

  2. Advanced Currency Implementation Options: Dragonchain provides advanced currency implementation options, making it more versatile for various use cases.

  3. Currency-Agnostic: The platform is currency-agnostic, allowing it to support multiple currencies and making it more adaptable to different business needs.

These strengths position Dragonchain as a robust and versatile blockchain platform that can cater to a wide range of business and development needs.

Dragonchain's risks

Dragonchain (DRGN) is considered a relatively high-risk investment. According to InvestorsObserver, the token's risk score indicates that it can be manipulated by analyzing the amount of money required to shift its price over a 24-hour period, along with recent changes in volume and market capitalization. This assessment suggests that investors should be cautious due to the potential for significant price fluctuations.

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Did Dragonchain raise funds?

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Dragonchain’s team

  • Joe Roets: CEO and founder of Dragonchain, with over 25 years of experience in software development design and architecture. He formerly served as Disney's senior software architect and lead blockchain architect.
  • Eileen Quenin: Vice president of strategic alliances and president of the Dragonchain Foundation, with a wealth of UX expertise from work at GE, Disney, and Amazon Payments.
  • George Sarhanis: Chief Business Officer (CBO), with nearly 20 years of experience in business management, strategy, finance, and partnerships.
  • Paul Sonier: Chief Technology Officer (CTO), with close to 20 years of experience in software engineering and involvement in the early stages of Dragonchain.

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