Dragonchain

Understanding Dragonchain (DRGN): The Hybrid Blockchain Solution

Dragonchain (DRGN) represents a unique hybrid blockchain platform that combines the benefits of both public and private blockchain technologies. Developed originally by Disney in 2014 and later open-sourced, Dragonchain offers businesses a flexible, scalable, and secure way to integrate blockchain technology into their existing systems.

What is Dragonchain (DRGN)?

Dragonchain (DRGN) is a blockchain platform designed specifically for enterprise use, focusing on easy integration, protection of business data, and simplified development processes. Unlike purely public blockchains like Bitcoin or Ethereum, Dragonchain operates as a "hybrid" blockchain, allowing businesses to maintain sensitive data privately while still benefiting from the security of public blockchain verification.

The DRGN token serves as the native cryptocurrency of the Dragonchain ecosystem, powering transactions and providing utility across the platform. As a business-oriented blockchain solution, Dragonchain enables companies to create blockchain applications without extensive technical expertise in cryptocurrency development.

How Does Dragonchain (DRGN) Work?

Dragonchain's architecture is built around a five-level consensus model that provides increasing levels of security:

• Level 1: Business verification (approval of business logic)
• Level 2: Enterprise verification (validation network)
• Level 3: Network diversity verification
• Level 4: External partner verification
• Level 5: Public blockchain verification (Bitcoin, Ethereum, etc.)

This structure allows businesses to process transactions privately at Level 1, with subsequent levels providing additional security and verification. The platform also features "smart contracts" called "smart transactions" which are written in common programming languages like Java, Python, and Node.js, making blockchain development more accessible to traditional developers.

DRGN Staking and Mining: What You Need to Know

Dragonchain (DRGN) doesn't utilize traditional proof-of-work mining like Bitcoin. Instead, the platform implements a unique verification system called "Proof of Time" through its Dragon Net technology. This system allows DRGN holders to participate in the network's verification processes.

As for staking, DRGN offers a form of staking through its "Time" mechanism. DRGN holders can earn rewards by providing verification services to the network. The platform's TIME component rewards long-term holders and network participants based on their contribution to the ecosystem's security and operation.

Additionally, Dragonchain's Interchain functionality enables DRGN token holders to participate in securing transactions across multiple blockchains, potentially earning rewards for providing this service to the network.

What is DRGN Used For?

The Dragonchain (DRGN) token serves multiple purposes within the ecosystem:

• Accessing and utilizing Dragonchain platform services
• Deploying smart contracts ("smart transactions")
• Participating in the verification process through the Dragon Net
• Commercial licensing fees for business applications
• Marketplace transactions within the Dragonchain ecosystem
• Incentivizing development and improvement of the platform

Businesses can leverage DRGN to build customized blockchain solutions while maintaining control over their sensitive data. The token enables interactions between different components of the Dragonchain ecosystem, including its decentralized marketplace.

DRGN Token Distribution and Launch

Dragonchain (DRGN) conducted its token sale in October-November 2017. The initial distribution of DRGN tokens was structured as follows:

• 55% allocated to the token sale participants
• 10% reserved for the Dragonchain team and advisors (with vesting periods)
• 10% allocated to the Dragonchain Foundation
• 25% reserved for development and future ecosystem growth

The token sale raised approximately $13.7 million, with a total supply of 433,494,437 DRGN tokens created. Unlike many cryptocurrencies, DRGN has a fixed supply with no additional tokens to be mined or created in the future.

Trading Dragonchain (DRGN) with Cryptohopper

Investors interested in Dragonchain (DRGN) can easily trade this cryptocurrency on various exchanges using Cryptohopper's automated trading bot. Cryptohopper provides tools for implementing strategic trading approaches for DRGN and other cryptocurrencies, allowing both beginners and experienced traders to optimize their cryptocurrency portfolio management through automated trading strategies.

Key Benefits of Dragonchain (DRGN)

Dragonchain (DRGN) offers several distinct advantages for businesses and developers:

• Data Privacy: Businesses can keep sensitive data private while still benefiting from blockchain security
• Interoperability: Connections to multiple public blockchains through Interchain capabilities
• Developer Friendly: Support for common programming languages instead of specialized blockchain languages
• Scalability: The hybrid architecture allows for high transaction throughput
• Flexibility: Customizable blockchain solutions for various business needs
• Disney Heritage: Originally developed by Disney's Seattle engineering team, bringing enterprise-level quality

As blockchain adoption continues to grow across industries, Dragonchain (DRGN) remains positioned as a business-oriented blockchain solution that bridges the gap between traditional enterprise systems and blockchain technology.