Dragonchain

Dragonchain is a cryptocurrency blockchain protocol originally developed by the Disney company to allow for more data privacy than other existing blockchains like Ethereum and Bitcoin. As with other forms of blockchain, Dragonchain s distributed ledger technology is designed to provide a transparent and secure means for digitally tracking the ownership and transfer of assets.

While Dragonchain originated as an internal project within Disney in 2014, in 2016 Disney discontinued its involvement in the project and released it to open source. The Dragonchain Foundation formed following this change to maintain upkeep of the protocol, and it now operates Dragonchain Inc. as a commercial business to help other enterprises get up and running using blockchain.

In late 2017, the Dragonchain startup launched an initial coin offering (ICO) as DRGN, and it raised approximately $13.7 million during a two-stage token sale.

Dragonchain

How Dragonchain Works

Dragonchain’s blockchain technology delivers key capabilities like the secure protection of critical business data and operations, multi-currency support, currency agnosticism, and easy integration with business applications.

Dragonchain also relies on a combination of basic and context-based verification systems that utilizes five base levels of nodes as well as a Level “X” type proprietary context verification node when desired that enables businesses to implement additional forms of verification on top of the base levels. The five base levels, or types of nodes, in Dragonchain are:

What Makes Dragonchain Different from Other Blockchains

One of Dragonchain’s key differentiating features is its flexibility in enabling smart contracts to be utilized and built using programming languages like Java, Python, C# or NodeJS. Dragonchain has been developed with the intent to make it easy to share and monetize these smart contracts.

It also enables Dragonchain to act like a “blockchain of blockchains,” wherein third-party providers can develop their own market solutions and applications that integrate with existing Dragonchain implementations while adding new functionality for specific use cases.

Forrest Stroud
Forrest is an experienced, entrepreneurial and well-rounded professional with 15+ years covering technology, business software, website design, programming and more.

Top Articles

The Complete List of 1500+ Common Text Abbreviations & Acronyms

Text Abbreviations reviewed by Web Webster   From A3 to ZZZ we list 1,559 SMS, online chat, and text abbreviations to help you translate and understand...

Windows Operating System History & Versions

The Windows operating system (Windows OS) refers to a family of operating systems developed by Microsoft Corporation. We look at the history of Windows...

How to Create a Website Shortcut on Your Desktop

Website Shortcut on Your Desktop reviewed by Web Webster   This Webopedia guide will show you how to create a website shortcut on your desktop using...

Generations of Computers (1st to 5th)

Reviewed by Web Webster Learn about each of the 5 generations of computers and major technology developments that have led to the computing devices that...

How to Indent in...

Microsoft Word is a graphical word...

Webcam

A webcam, short for web camera, is a piece of video hardware that...

Binary System

The binary system in computing uses the base 2 number system to power...