What is Dragonchain (DRGN)?
Future of DRGN Cryptocurrency and know how to buy DRGN

#1 - What is Dragonchain

Dragonchain is one of the newly launched cryptocurrencies that is attracting crypto enthusiasts following its relaunch. The coin seems to be leading on the technology front irrespective of its market capitalisation trends, which is why it's also being anticipated to be Ethereum’s competitor.

Dragonchain: The Basics

  1. Dragonchain is a hybrid blockchain platform, where sensitive business logic and smart contract functionality is held by the owner. Its cryptocurrency is denoted by the symbol DGRN & has a total supply of 433,494,437 coins.
  2. Originally created as “Disney Private Blockchain Platform” in 2015-16, it was released as open-source software in October 2016. An initial coin offering from October 2nd until November 2, in 2017 distributed Dragonchain coins to investors.
  3. Dragonchain uses serverless smart contracts from its pre-built library. This feature is unique to this cryptocurrency, as it can create smart contracts, with or without cryptocurrencies.

 

#2 - What are the Benefits of Dragonchain?

Dragonchain Development

  1. Dragonchain was developed by Joe Roets who is its CEO and Chief Architect with a team of 4 core developers. The team is backed by a strong advisory board with Jeff Garzik on board who is established icon in the Bitcoin network.
  2. It was developed after exploration of 20 use cases and applications. It was released under the Apache 2 license in October 2016 to integrate real business applications onto a blockchain, protect business data and operations, currency agnosticism,
    and multi-currency support.
  3. The launch of Dragonchain Foundation, a non profit corporation, in January’17 maintains the ownership and responsibility of Dragonchain’s open source code.

  4. The developers are now working for the launch of Dragonchain, Inc., a commercial entity which will build a serverless architecture blockchain platform and an incubator.

Dragonchain Technology

  1. Dragonchain has introduced an Interchain Smart Contract platform to enable businesses to develop blockchains on DRGN. They enable automated frameworks for incentivization of behavior at the organizational level. This will allow interchain between private DRGN net and tie it with Ethereum and NEO.
  2. Its spectrum based approach to the blockchain gives flexibility for scalability and designated traffic flow . All the nodes are independent, so all transactions run separately from one another as private blockchain nodes coexist and interact with those of other public blockchains.
  3. It also offers context based verification to improve the handling of business nodes by allowing nodes to handle approval of transactions. There are 5 levels for verification and consensus:
    1. Business (Approval) Verification
    2. Enterprise ( Validation) Verification
    3. Network Diversity Verification
    4. External Partner (Notary) Verification
    5. Public Checkpoint Verification
  4. The serverless blockchain platform executes smart contracts in a traditional model and on a trusted node. The business logic rests on a trusted base level which lets the blockchain run independently. It is used to create and store smart contracts.

Features:

  1. Customizable turnkey solutions: Enterprises can easily design smart contracts in a variety of languages like Python, Node, C# & Java. The contracts can be specific to their business needs to include both private internal and public blockchain interactions.
  2. Swift transfer and retrieval of currency: The Currency Smart Contracts help organizations to retrieve and transfer specified currency amounts between wallet addresses and check balances which can be run on schemas like ERC20, ERC223, etc.
  3. Scalability: Dragonchain helps enterprises to leverage their models using blockchain by allowing development and integration before the economic model is known. Monetization can be applied after sufficient real data is available & system is functioning.
  4. Privacy: Privacy is Dragonchain’s USP - it provides a safe ecosystem through its 5 layer verification and consensus mechanisms. Explicit authorization by the owner of a node(s) is required to move data across the network in the business defined payload of a transaction.

#3 - How to Buy and Store Dragonchain?

How to buy Dragonchain

  1. DragonChain cannot be directly purchased with fiat currency, so the easiest way is to swap it with other cryptocurrencies like Bitcoin, Ethereum, etc.
  2. Since it is an ERC20 token running on the Ethereum network, Dragonchain mining isn’t possible either.
  3. Since it has been recently launched, there are a few exchanges offering DragonChain purchases like Fatbtc, Allcoin, Kucoin, Gate.io, BancorNetwork, EtherDelta, IDEX, Tidex, CobinHood & CoinExchange.

With the DGRN cryptocurrency being available over many exchanges, it can get difficult to get the best price for your transactions. Which is where CoinSwitch steps in.

  1. While cryptocurrency exchanges provide you a platform to buy or sell the Dragonchain cryptocurrency, CoinSwitch comes in to help you make the right decision by providing the prices for DGRN. It makes it possible for investors to invest in dragonchain coin and also store it securely using a dragonchain wallet. This way you can choose the best deal for you!
  2. With CoinSwitch you can also buy, sell and trade over 275 cryptocurrencies for dragon chain.

Dragonchain Storage

DRGN is an ERC-20 token, which can be stored in ERC-20 compatible wallets or Ethereum wallets. A Dragonchain wallet that you can pick up for storage can be any of the following:

  1. MyEtherWallet (MEW)
  2. Coinomi,
  3. Ledger Nano S
  4. Trezor
  5. MetaMask, etc.

 

#4 - What is the future of Dragonchain?

As of June 2018, its market capitalisation stands at $142 million. The total supply of the Dragonchain cryptocurrency (DGRN) is about 238 million DRGN,

With scalability, and agnosticism, Dragonchain is very well placed to be at the centre of the shift to capture the growing demand for cloud computing. Priced at around $0.666 at its launch, it rose with rapid pace to touch over $5.46 - giving its investors an impressive 800% returns just within 6 months.

Also Read: Complete Analysis of Dragonchain | Live Dragonchain (DRGN) Price Charts And Predictions

Date

Open*

High

Low

Close**

Volume

Market Cap

Jun 01, 2018

0.597985

0.728355

.580817

0.618595

841,058

142,573,00

May 01, 2018

1.21

1.21


1.04

1.11

3,786,850

287,689,000

Feb 01, 2018

2.24

2.35

1.73

1.97

3,899,860

533,771,000

Jan 01, 2018

1.392.221

1.371.96


1.37

1.96

10,405,1

330,635,000


#5 - How is Dragonchain different from other cryptocurrencies?

As discussed earlier in this post, Dragonchain has multiple standout features making it unique from most other cryptocurrencies.

  1. It allows users to retain complete control of their data.
  2. Faster: Dragonchain tokens allow founders to use them to incubate their projects. It helps developers to spin up nodes & create smart contracts in a short and fixed Length Block Time.
  3. Security of business data and processes and economic viability make it a preferred choice for enterprises.
  4. Its currency agnosticism feature allows blockchain creation without currency or with one or more currencies in place.

 

#6 - Should you invest in Dragonchain?

  1. DragonChain platform’s ability to scale will make it a strong rival to Ethereum. Its strong base due to its usefulness to scale businesses economically, security features and addition to existing blockchain platforms can make it investors choice.
  2. There is immense potential for growth of its market cap as its would be competitor Ethereum, stands at Dragonchains’ 120 times market cap.
  3. It’s availability in different languages will allow more developers to code using Dragonchain’s blockchain technology.
  4. Dragonchain’s association with Amazon’s cloud network for serverless deployment on Amazon AWS, will increase its acceptability. So, its future does look bright. Its developers have exhibited solid dedication to the project, with frequent updates and efforts to keep the platform thriving and secure.
Related Searches