DragonChain Review

in #crypto7 years ago

This post is a share of a reddit post by Ilovegamingonsteemit (i know similar pseudo but not me). The review is really well writte.

Disclaimer - I hold some DRGN, obviously.

This post is intended to spread the word about Dragonchain, and how this American based "Blockchain of Blockchains" is the most innovative and easily-adaptable platform in the world. I am not advocating you go buy coins right now, but I am shocked at how little it is mentioned in the crypto space. So I want to share what I have learned over the last few months of quite obsessive research into it.

You should start by watching this video, its only a minute and a half:

Also, I found an article by Pink Panther that gives a tremendous overview, so I will share it here*:

What is the relationship Disney and Dragonchain?

Dragonchain was originally developed at Disney’s Seattle office in 2015 and 2016 as the Disney Private Blockchain Platform. Over 20 use cases and applications were explored and documented publicly via the W3C Blockchain Community Group. The platform was later released as open source software under the Apache 2 license in October of 2016.

The Dragonchain Foundation, a Non-Profit Corporation was created in January of 2017 to maintain ownership and responsibility of the open source code.

What is the problem DragonChain is attempting to solve?

Existing platforms restrict the creation of truly secure and scalable blockchain applications in real world business use cases.
Dragonchain™ offers:

Protection of Business Data & Operational Smart Contracts
Scalable system via Serverless Deployment
Creation of Smart Contracts with established, general purpose languages (Java, Python, NodeJS, C#)
Ecosystem for sharing and monetization of Smart Contracts
The Solution:

Security— Enterprise ready architecture; creates spectrum of trust

Development— Established language support for smart contract development (Java, Python, Node, C#)

Scalability — Serverless deployment on Amazon AWS

Protection of Business Data and Processes

Ease of integration

No Base Currency + Currency Agnostic + Multi-Currency Support

Interoperability with other Blockchains

Short, Fixed Length Block Time

*Source: https://medium.com/@kkv54419/fundamental-analysis-of-dragonchain-drgn-1463cc971e8f

The Token

So what does DRGN actually do? A Dragon is legally a micro-license for intellectual property on the blockchain. It therefore has many uses:

DRGN's are required by companies to access the Incubator. I am not sure how many DRGN's they have to hold to get access, but it will absolutely drive demand.

Also, all incubator projects must include a special discount during their ICO for DRGN holders. The quality of the discount will be determined by your Dragon Slumber Score. The DSS is determined by: Length of time your Dragons are held * Number of Dragons held. DSS is a great incentive to hold your tokens for some juicy ICO discounts..

DRGN's are required to pay for the turn-key products available in the Marketplace. Developers can determine the payment method (one time, subscription, a fee per API call, etc.). So companies will need to acquire DRGN's on a recurring basis to use the products on the Marketplace. Since Dragonchain is marketing early on towards lower resourced companies, there will be a very high demand for the products available in the Marketplace (since these companies won't be able to develop their own).

DRGN's will also be required to spin up nodes and to call / execute smart contracts. So even if a giant like Google adopts the platform, they will need to have DRGN's to do the basic blockchain functions.

Here is a great official video about how to use the tokens:

The Hype

Dragonchain is already launching it's first ICO -- Look Lateral, an online marketplace for high-end Art pieces -- in just a few weeks. By the time Neo launched it's first ICO -- it was already valued at over a billion dollar market cap. Before that, the idea of a smart contract platform which could potentially scale as well or better than Ethereum was an exciting investment opportunity to me and many others. In my opinion -- A BaaS has the biggest chance for globally disruption and adoption, just like the internet. Those of us who had the foresight to invest heavily in Antshares when it first hit Bittrex were handsomely rewarded. At the time, ANS was between $3 - 7 and the market cap was between $150 - 400 million (a high market cap to expect a 10x, but as we know, many quality BaaS coins sit above a $1bn market cap). The dBFT algorithm and the massive Chinese market drove most of the hype. Dragonchain will provide the vast American market with streamlined access to a blockchain platform in ways not seen before. They offer new solutions and services to all companies, even those with low startup resources. DRGN is currently ~$0.40 on Ether Delta with a market cap of ~$100 million. It is safe to say this coin can reach above and beyond a $1bn market cap -- in which case the price will be $4.19 (10x from now).

The Code

Go take a look at the GitHub and review the code / activity. I am not a programmer so I can't really comment on the code, but at this time there are: 243 commits, 13 branches, 1 release, 11 contributors, and is protected with a Apache-2.0 license.

In Plain English

Dragonchain offers each company their own blockchain. Each blockchain provides a spectrum of trust for the data, from private, to public. Each blockchain can scale up to Amazon level transaction volume. The token is required for companies to use the platform. It is also held by investors to get special discounts for ICO's on the platform. Do yourself a favor and read the white paper and also check out the architecture documentation for additional information:

https://dragonchain.com/assets/Dragonchain_Business_Summary.pdf

https://dragonchain.github.io/architecture

Also if you're interested in Look Lateral, check out the website, as you can see, they already an established site with many works of art for sale. This coin (will be called a LOOK) will be used as a currency on this website (it kinda compares to MonaCoin, but on a slightly smaller scale).