Talking about an improved commercial blockchain built for swift creation and deployment of applications on the blockchain, we are bringing up Dragonchain, a serverless ecosystem that enables businesses to utilize blockchain apps in a private, secure and easy environment. The Dragonchain coin is Disney-developed and it brings a fresh breath into the blockchain space with its hybrid blockchain. We will be looking at what is Dragonchain, Dragonchain partnerships and the best way to make a Dragonchain exchange at the best rate.
What is Dragonchain?
Dragonchain network is a hybrid blockchain of its own built for developers, enterprises, and small businesses. Joe Roets initially built the protocol in 2014 inside Walt Disney as a private closed project before it was then changed to an open-source project in 2016 to be managed by the Dragonchain Foundation. The Dragonchain blockchain network is a public/private hybrid that is built to allow the integration of APIs, supply chain, IoT, third party oracles as well as other business data. Also, it allows the integration of legacy systems and external blockchains through Interchain™.
The interoperability of the Dragonchain has been proven in 2016 through the use of its Interchain™ to link up external blockchains like Binance Chain, Bitcoin, Ethereum Classic, and Ethereum. It allows the easy migration from off-chain to on-chain at the same time maintaining GDPR capability.
Dragonchain crypto also proved its high-performance capability on January 7, 2020, live streaming more than 250 million transactions that it handled in 24 hours, which is an average of 1500 transactions per second. The use case of the Dragonchain cryptocurrency further expanded in 2020 when Medek Health launched Covid SafePass using Dragonchain network solutions. The organization collaborated with the City of Apopka and followed the FDA Covid-19 guidance on Digital Health policies and Public Health Solutions.
Many solutions have now been built by Dragonchain on its blockchain network including solutions like Den, which is a decentralized social media, Lyceum – on-chain training courses and certificates, Dragon Factor – a decentralized identity app, Eternal – an app for archiving predictions, and legal proof, and lastly Provably Fair Contest System – an app for giveaways, casinos, contests, and lotteries.
The Dragonchain token went through a two-stage token sale. The first stage of DRGN 1 was the pre-sale that occurred in August 2017 followed by a 30-days public sale that finished on November 2, 2017. Dragonchain DRGN was able to secure $13.7M in funding through its Dragonchain token sale during both pre-sale and public sales. Funds were received in either ETH or BTC. The protocol didn’t put any cap on the token sale as every contributor that participated got tokens proportional to their contribution in BTC.
A total of 433.5 million Dragonchain DRGN tokens were created, of which 238.4 million DRGN were made available to the public. The development team was allotted 86.7M DRGN, subjected to a two-year release schedule. Both Dragonchain Inc. and Dragonchain Foundation got 43.3M DGRN tokens.
The foundation will use its assigned tokens to provide support to developers via training and programs as well as offer support to the open-source codebase of the Dragonchain blockchain. The DragonFund incubator will distribute the remaining 21.7M DRGN tokens to participating projects. The token sale was a global sale where anybody could buy the token including users based in the United States. This is in line with the Dragonchain mantra “all humans welcome”. An internal audit of the token sale was done by the protocol and an external audit was said to have been carried out before token distribution.
Key features of the project
High Performance and Affordable fees
We all know a thing or two about insanely high transaction fees. Just ask Ethereum users. On Dragonchain, the transaction fees are predictable and deterministic, going for as low as $0.0000025. That is incredibly cheap for a blockchain that processes transactions instantly completing a block in just 5 seconds.
By using Docker containers, you can implement high-performance and secure blockchain solutions.
On Dragonchain blockchain, each app runs as its own non-homogenous private blockchain that combines certain public blockchain capabilities when required.
Containerized Smart Contracts
Dragonchain provides the room to write smart contracts in any coding language of your choice and deploy them without testnet.
The Dragonchain is interoperable with several external blockchains and traditional systems while protecting sensitive business logic and remaining GDPR/HIPAA capable.
It is dubbed the first hybrid blockchain that allows businesses to invent using several levels of verification. Taking you through verification levels such as basic transaction verification to public verification on blockchains like Ethereum or Bitcoin to present a proof of existence or an independent witness.
On the Dragonchain blockchain, there is no mining of tokens. Instead, each member of the Dragonchain community acts as a Dragonchain node that offers a decentralized notary, diversity, and validation service. To show how much Dragonchain emphasizes reward and loyalty, the protocol has a patent that revolves around it.
So, as businesses create their apps at the private level 1 business node, the community, and chosen partners operate their own level 2 validation, level 3 diversity, and level 4 notary Dragonchain nodes. The next nodes are the level 5 nodes, which serve as the point of call to link external chains like Binance Chain, Bitcoin, and Ethereum. The Dragonchain master node can run and manage the level 5 nodes or the responsibility could fall on a specific blockchain via partnership to make interoperability with all chains possible.
Rewarding members of the Dragonchain community operating nodes on the blockchain is dependent on the TIME spent by each node operator at a specific level. The loyalty score added to the DRGN token is called TIME and the more TIME a member spends on L2, L3, or L4 nodes then the higher their reward when their node is chosen via the matchmaking procedure. Also, on every DGRN token staked in a non-exchange wallet, a 1 TIME loyalty score is assigned daily.
Dragonchain partnerships are impressive with notable names like Crosschain Capital, Octachain Capital, 42 Fund, Aritisian Capital Partners, Royal Venture Capital, Token Research Group, and cp0x involved in the project. With this impressive list of partnerships, it can be suggested that Dragonchain future has a good standing.
How to perform a Dragonchain exchange on Swapzone?
Dragonchain exchange is easy; just visit Swapzone, a Dragonchain exchange aggregator for the best DGRN value in the market by presenting the best exchanges with the best price.
On Swapzone, you can select any DRGN pair from the list of tokens then the site will pull up all the Dragonchain exchanges with good value for your money.
Input the amount of DRGN tokens you want to exchange.
Select the exchange that suits you by clicking on the exchange button.
Input the address where you want to receive the DRGN. There is also an option for a refund address, which is the address where your asset will be refunded to incase of any issues.
Click on proceed the exchange button to carry out the Dragonchain exchange.
Leave a review and rate your exchange experience.