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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.
You can buy, sell or trade Dragonchain on many exchanges. To find the right fit, compare exchanges by supported fiat currencies, deposit methods and more.
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:
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.
This means the following:
Put together, Dragonchain says these features can theoretically offer some of the following:
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.
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