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Dragonchain Project To Return Collected Funds

The growth of Blockchain adoption attracts more enterprises to look their ways for the implementation of the features of this new technology and due to which there is need of such platforms for the implementation which are easy and secure. Dragonchain is one such platform that seems poised to handle part of this demand.

An interesting counterpart to Dragonchain would be Simple Token, as they are both looking to target a similar market.

They have the needed industry and business experience across their employees and advisors to become an established, leading business going forward.

The Platform

The platform also offers people access to Amazon Web Services and makes available on-demand cloud computing services.

The Crowd-Scaled Incubator

The Dragonchain Marketplace acts as a support structure for user companies. The Dragonchain platform comes with other features like:

  • Privacy
    • Dragonchain brings privacy into smart contracts
  • Coding Flexibility
    • The primary coding language of the platform is Python, but with the smart contracts functionalities, the platform also supports the following languages:
      • Java
      • Python
      • Node
      • C#

The DragonChain CEO/founder is Joe Roets. Paul Sonier, Eric Hartford, and Alex Benedetto are on the development team. DRGN was first distributed by an ICO that ran between October and November 2017. 55% of Dragons coins are distributed by ICO while others are:

  •         20% to the Dragonchain fund
  •         10% in reserve
  •         10% to the Dragonchain foundation
  •         5% in the Dragonfund
  •         The thing worth noting is, DRGN has increased in value by 600%.

What makes Dragonchain Special?

  1.      Hybrid System that allows businesses to have their chain
  2.      Limited exposure to smart contract data
  3.      Multiple currency support, on one chain
  4.      Multi-language smart contract interactivity
  5.      Serverless architecture via Amazon Web Services (AWS)
  6.      Its incubator and marketplace

For instance, to release code on the Ethereum blockchain, one must learn Solidity. To create a contract on Stellar’s network, you have to learn their SDK. The more powerful the language, the more dangerous the bugs are which can be potentially released into your code. Having your business logic exposed is undesirable and would be a massive compromise for any organization that needs to maintain data privacy while also using the blockchain for security and validation. Should these internal business transactions need to be made public, they can be done so in a private manner by storing secure hashes of their data on public blockchains.

On the lines of this, some developers are making efforts to make it easy for a less technology-oriented business to get involved commercially.

The idea was to develop a secure Asset Management System to be used internally. However, in 2016 Disney decided to make it open source. Apart from this, it is built on a much simpler architecture. Disney originally developed the project under the name ‘Disney Private Blockchain platform’ and opened its Public Initial Coin Offering (ICO) started on October 2, 2017.

Dragon Chain platform is a public and private, i.e. hybrid solution of blockchain, as explained on the website, as explained on the project website, and it enables all the companies for the maintaining the full control over the internal data which is sensitive, also will provide a bridge  for bitcoin and other blockchain which is public.

A commercial platform is being built by developers that will run on the top of the blockchain and also provide companies with the turnkey products of blockchain which includes pre-coded smart contracts.  Developers had maintained the Dragon Tokens as utility tokens not as securities and also this can be used for the payment for such commercial elements of the platform.[/vc_column_text][/vc_column][/vc_row]