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.
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.