Dragonchain hatched inside Disney in 2014 and moved out in 2016 when Disney cancelled the project. It raised US$13.7 million in a late 2017 ICO, enjoyed some prominence during the crypto-mania at the end of 2017 then started serving as an incubator for other blockchain startups, some of which then launched entirely new public ICOs of their own via Dragonchain.
These rapid and persistent fundraising efforts put Dragonchain squarely in the path of the ensuing ICO crackdown. By mid 2018 it was tangled in a regulatory web, and quickly fading from prominence.
The project and token continued though. In 2020 its founder appeared on the Discovery Channel show Open Source Money to discuss his experiences with the US regulatory environment.
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific
provider, service or offering. It is not a recommendation to trade.
- Register for an account with an exchange like Coinswitch.
- Verify your account.
- Search for Dragonchain or DRGN.
- Check the price and confirm the details.
- Choose your payment method.
- Confirm your purchase.
Where to buy, sell and trade Dragonchain Dragons (DRGN)
How does Dragonchain work?
Dragonchain’s original mission was to make blockchain solutions available across all industries, especially in areas where they might otherwise go unused. The Dragonchain token is called Dragon (DRGN), and it was intended to be more like a certificate than a coin since it was designed to function as a licensing system for the use of Dragonchain systems.
Dragonchain Inc. is basically a commercial enterprise that offers commercial blockchain solutions to support new and existing businesses, and the DRGN coin is basically a license to use Dragonchain.
The total supply is set at 433,494,436 Dragons, and there will never be any DRGN mining or token creation.
Owning Dragons lets people use Dragonchain systems to develop their own blockchain solutions. This means they get a quick and easy way to access the full benefits of a blockchain system, which they can tailor as needed.
According to Dragonchain, its features include the following:
- Dragonchain uses serverless blockchain systems provided by Amazon Web Services and Google cloud computing for decentralization, reliability, scalability and security.
- Dragonchain uses smart contracts with established language support for Java, Python, C# and other common programming languages. This essentially means that developers without any specific blockchain experience could create their own systems, including smart contracts, easily. It also comes with a smart contract library to let businesses immediately start using exceptionally useful features.
- The Dragonchain system has built-in protection for business data and operations for more reliability and security.
The multi-layer consensus system
One of Dragonchain’s technical features is a multi-layer consensus system. Essentially, a user can run systems across any of the five layers as needed.
Each block can be run at a different layer for an extremely granular degree of control over individual transactions.
- Business verification. This is the most basic layer, and it’s basically secured by trust. It doesn’t offer any of the usual blockchain validation mechanisms because this layer should only be used for already-trusted data.
- Enterprise verification. Data on this level is verified by form, signature and required data elements. This layer essentially just ticks the boxes as needed for a rudimentary level of validation.
- Network diversity verification. This layer checks that everything on level two was validated by appropriately diverse sources. It prevents tampering of information from outside sources.
- External partner notarization and verification. This adds an external notarization function to the level three diversity check for demonstrably secured data.
- Public checkpoint verification. This layer connects to public blockchains, such as the bitcoin or Ethereum chains. It verifies to the levels required to seamlessly bridge with those chains.
This means the following:
- Users can prove the security of individual transactions, which may be required to satisfy a business partner or different regulations.
- Users can get a measurable risk level for each layer to make more informed decisions about which layer to operate on.
- Users can trust the validity of external data to specified levels or levels required by regulation.
- Users can bridge with public blockchains to integrate a wide range of features from outside chains.
Put together, Dragonchain says these features can theoretically offer some of the following:
- Lower development costs
- Faster speed to market
- High security
- Multi-currency support across fiat and supported cryptocurrencies
- A longer period of no-monetization to encourage riskier projects
- The ability to create a novel and powerful blockchain solution without needing developers that have specific experience with the technology
How to sell or trade Dragonchain (DRGN)
- Visit the exchange platform where you have your Dragonchain. If it’s in a digital wallet, then you can choose any platform from the list above to complete your transaction.
- On the platform, follow the instructions to sell or trade your Dragonchain.
What to consider before buying Dragonchain
Blockchain has vast applications. However, it’s hard to say how much a Dragon should be worth or how exactly the tokens will work. It’s a fairly unconventional token, and these questions should probably give holders pause.
Other than the prices on exchanges, the closest thing to an official valuation is Dragonchain’s assertion that “Dragons are modeled to reflect the value of Dragonchain fundamentals.”
Its developers have also suggested that there might be side chains in the future that may come with their own mining or inflation systems.
It’s also worth noting that as of January 3, 2018, Dragonchain is still relatively hard to get and is only found on a handful of exchanges. Cryptocurrencies have tended to balloon when they get introduced to a wider audience, and buyers will need to decide if the same will happen with Dragonchain.
Blockchain-as-a-solution is becoming increasingly common, and Dragonchain has a lot of competition from both inside and outside the cryptocurrency space.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.