Image taken from Dragonchain Website
"Unlike existing platforms, with Dragonchain you retain complete control of your data. Sensitive business logic and smart contract functionality is kept proprietary.“
-Joe Roets, Architect, Founder, CEO
Courtesy: Coinmarketcap
Hello everyone! It's another Shilling Sunday Series! Now I'm gonna talk about a platform that doesn't have that much attention as of now. Everybody's talking about the rest of the top 100 cryptos existing, but I haven't seen a lot of post on this gem.
Enter the Dragon(Pun intended)
Dragonchain is a public/private hybrid blockchain platform developed originally by a group inside of the Disney Company in Seattle. In 2016, Disney open-sourced the project as the Dragonchain Foundation, a non-profit that manages the upkeep of the Dragonchain.
Honestly, when I first saw the words 'Dragon' and 'Disney', I didn't hesitate and bought some at the spot price on Etherdelta. It didn't matter for me what was the use and whatever the price action was, and it's hard to chart tokens that are on Etherdelta, honestly. It was typically a hunch that it was going big - and it did.
Basically, Dragonchain, Inc. is a company that helps startups or other companies incorporate blockchain technology into their businesses. Using the Dragonchain platform, they provide the serverless ecosystem that allows startups to start using blockchain applications with increase ease, privacy and security. From their own whitepaper, 'Dragonchain simplifies the integration of real business applications onto a blockchain and provides features such as easy integration, protection of business data and operations, currency agnosticism, and multi-currency support.' Now, Dragon tokens exist as an ERC-20 Token but in the future, they plan to create their own blockchain and separate themselves from the Ethereum Network.
Dragonchain Ecosystem
The Dragonchain Ecosystem is subdivided into three parts: The Platform, The Incubator, and The Marketplace.
Dragonchain Platform
The Dragonchain architecture is also designed to allow nodes to handle approval of transactions based upon five levels of network consensus to provide a spectrum of trust to data consumers; a level of security and flexibility unseen in the market by current blockchain solution providers. These design attributes position Dragonchain for exponential growth.
The platform is where developers can create smart contracts with ease and security. Currently the Dragonchain Platform is on Early Access Program which requires 500 Million DSS(we'll talk about this later). The five levels of consensus given are: Business (Approval), Enterprise (Validation), Network Diversity, External Partner (Notary) and Public Checkpoint Verification. These verification levels of blocks increase the security and reduces the risks. The platform also includes access to Amazon Web Services.
The Dragonscale Incubator
Dragonchain will provide project incubation as well as professional services with strategic partnerships to develop successful tokenization ecosystems focusing on long term value.
The incubator allows the companies to start using blockchain applications, following Dragonchain's process. Companies and startups under the Dragonchain Incubators also get access to advisory, legal and experts of the dragonchain team. For investors, this reduces the risks on investing on projects that would bring no value to the blockchain ecosystem, and avoid scam projects that will just run away with your crypto. The businesses would get a 'boost' on their projects when they get incubated in the Dragonchain Ecosystem, allowing business projects to launch and start producing market value faster. In return, Dragonchain will benefit from licensing fees and token ownership of the Incubatees under the Dragonchain Platform. Currently there are 5 Incubatees under the Dragonscale Incubator.
I am still holding my Dragons, and I would prefer participating in ICOs under incubation in Dragonchain to minimize the risks involved in investing. And a one-time KYC which allow you to participate in the incubator projects under the Dragonchain platform, which reduces the risk of your personal data on being used on shady purposes, and it gives you convenience on investing, too. I am no big investor so I hedge some 'safe' projects in the high risks I take in both trading and ICO participation. I'm not saying that there would be no more risks involved, this is crypto. And we know we're all here in a market that is still in the highest risk-reward category.
The Dragonchain Marketplace
an ecosystem of verified subject matter experts across disciplines such as crypto, marketing, legal, software development, and recruiting. Also included in the marketplace are libraries of pre-built smart contracts monetized by developers for reuse.
The marketplace is pretty much where you could also compare incubated projects and engage with the Dragonchain community. The marketplace could also be put as an exchange, using Dragon tokens to purchase services.
The Token
Dragons will be used by developers and organizations to interact with the Dragonchain commercial platform products and services (e.g. launch nodes, provision smart contracts, access incubator dashboard, etc.). As a tokenized license with value in utility service rights, the tokens will further allow individuals or organization to be rewarded in an open market for running public or private nodes for network consensus.
The token is defined as a tokenized micro-license to access all services across the Dragonchain Platform and Ecosystem. It is a utility token that could also be used in supporting the projects under the DragonFund Incubator. Dragons are also used as incentives for the contribution of developers on the open source project and related projects.
Dragon's total supply 433,494,437. The token is not mineable and currently an ERC-20 token. Now, the tokens are listed in some exchanges like Kucoin and Bancor. A list of available exchanges can be found here.
Dragon Days Slumber Score
Yes, they reward you when you HODL your dragons! Holding dragons and not transferring them from one wallet to another increases the wallet address' slumber score. The longer you HODL them, the higher it gets. It gives the address access to some features in the Dragonchain ecosystem such as the marketplace, platform and discounts on token sales of incubated projects!
Technical Analysis-ish
Currently, the price of Dragons are dropping as the days are passing, while some other alts have been rising. So we could see some sort of a relief rally in the future. But for long term plans, Dragons will surely stay. In the daily candles, the current price is sitting near the cloud support and has a higher probablilty of bouncing back up than going down. The daily RSI is also near the bottom.
Checking the shorter time frames, it seems that it has started rising up.
Thanks for reading and have a great day! If you liked it, be sure to leave a thumbs up! What do you think about this token? Let me know in the comments!
Wanna buy Dragons? Buy at Kucoin!
Interested in trading and haven't traded yet? Try Binance. They trade STEEM too! (Please always check the url and don't get phished!)
Feeling ballsy and wanna do leverage? BitMEX allows up to 100x! Don't get burned though, or else the bot will quote your order.
Disclaimer: All information found here, including any ideas, opinions, views, or cryptocurrency picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. I am not your financial advisor. Please don't sue me if you follow my picks and lose money.
Sources:
https://bitcointalk.org/index.php?topic=2096284.0
https://en.wikipedia.org/wiki/Dragonchain
https://coincentral.com/what-is-dragonchain/
https://coinmarketcap.com/currencies/dragonchain/
https://twitter.com/dragonchaingang
Whitepaper
Resources:
Kucoin
.gifs are taken from giphy
