Note: This piece was ghostwritten for a client. It is uploaded here purely for portfolio purposes.
DragonChain is a blockchain platform that enables companies to move their standard applications on to the blockchain framework easily. It is a serverless network that plugs into Amazon Web Services. While still in its early stages, DragonChain is compatible with current programming languages like C++, Java, and Python. Unlike Ethereum and other blockchains, where developers must learn new languages, DragonChain allows them to use these standard languages to build their smart contracts.
Moving applications over to a blockchain provides increased protection of data, faster speeds, and a reduced cost when dealing with clients. DragonChain also offers a space for startups to work on new projects with assistance from experts in the marketing and cryptocurrency industries.
What Makes DragonChain Work?
The DragonChain network has three systems: the platform the incubator, and the marketplace.
The platform is where developers write and store their smart contracts. It is scalable, meaning that any applications will be compatible with Amazon or Google cloud services. All of the information here is entirely secure due to DragonChain’s built-in protection features.
The second stage is an Incubator for blockchain developers to work on new projects and startups. Here they are assisted in developing ecosystems with the potential for long-term success. Once a project is ready, it is shown to the world for review. Upon favorable review, the Incubator offers services to help speed up development and exposure. Think of it as a “starter-kit” for promising startups. Anyone can apply to start their project on the DragonChain website.
The marketplace is a space for clients to access a group of experts from all across the board – each happy to help a startup market, organize, and further develop their projects. Also, developers will find access to a library of pre-made smart contracts for reference.
All of this is funded by the Dragon Coin (DRGN). It is used as a sort of license for each stage of the application development process.
How Is DragonChain Unique?
Unlike most blockchains, DragonChain is “currency agnostic,” meaning that teams can choose to have multiple currencies or not to have one at all.
Initially, DragonChain was funded by Walt Disney Co.’s Seattle campus from 2015 to 2016 before spinning out into the DragonChain Foundation. It currently runs as a non-profit, but it will launch commercially as DragonChain Inc. upon platform launch.
Ethereum runs similar to DragonChain, providing users systems to write smart contracts and develop applications. However, the Ethereum network puts users data at risk of exposure. Smart contracts are open by nature to provide complete clarity and encourage trust between two parties.
DragonChain implements a 5-layer security system to protect clients data:
- Business (Approval) Verification
- Where a business decides to make a transaction with another one.
- Enterprise (Validation) Verification
- Validates the information between the two businesses.
- Network Diversity Verification
- Requires three separate entities to sign for the transaction.
- External Partner (Notary) Verification
- An unrelated third-party that ensures diversity in signatures during the previous step.
- Public Checkpoint Verification
- A node will provide a bridge for clients to interact with other public blockchains and make the transaction.
Each step represents a higher verification level for blocks. This system allows clients to read a generated report on a foreign interaction before making a decision. It encourages trust between consumers and provides a safe way to engage in transactions.
DragonChain is considered a “hybrid system” because it is an open-source platform with enough security to ensure information stays private.
DragonChain’s advanced security features make it a worthy new platform in the crowded cryptocurrency space. The 5-stage security system, compatibility with previous languages, and solutions to scalability are poised to revolutionize traditional blockchain tech. Potentially giving Ethereum a run for its money, the DragonChain platform aims to launch later this year.