Dragonchain Celebrates 10 Years of Satoshi Nakamoto’s Vision with Proof-of-Existence
Dragon Net expands capabilities with Proof-of-Existence to record transaction hashes to Bitcoin, NEO, Ethereum, and Ethereum Classic
On the 10 year anniversary of Satoshi Nakamoto’s white paper, Dragonchain has expanded its Dragon Net capabilities, with Proof-of-Existence to Bitcoin, NEO, Ethereum, and Ethereum Classic. By using Proof-of-Existence, businesses can prove that a transaction occurred or that a transaction didn’t occur.
Blockchain Delivers Transparency and Efficiency
Today, most everyone has heard how blockchain will disrupt the world. For businesses, transforming day to day operations with blockchain technologies can create substantial value: transparency, increased efficiency, and a reduction in operating expenses, which can translate into agility and better scale. To reach this value, blockchains can connect two parties in order to transact in a verifiable and permanent way, even without established trust. Most companies use individual ledgers across business units and functions. The problem is, reconciling transactions across individual ledgers takes a lot of time and is prone to error.
Dragonchain-as-a-Service
Dragonchain is a fully-managed cloud platform for businesses to build blockchain applications and smart contracts in a way that is fast, flexible, and secure. Delivered as a service, Dragonchain enables businesses to realize the benefits of blockchain technology faster, while simplifying integration and overcoming security challenges with a hybrid public/private approach to security. The Dragonchain platform has been developed to help businesses build blockchain solutions faster and Interchain blockchain to blockchain.
Dragon Net
Blockchain transactions on Dragonchain are verified using Dragon Net. This community network is made up of 5 layers of independent nodes that are ran by Dragonchain users. This network could commonly be referred to as a consensus network. Payload data remains private on level 1 nodes, and verified by layers of Dragon Net. Dragon Net serves as the gateway between the Dragonchain platform and public blockchains. When a transaction passes through level 5, it can then be recorded on a public chain like ETH, ETC, NEO, or BTC―using Interchain capabilities.
Proof of Existence
By connecting data across private and public blockchains, you can provide transparency and real-time sharing, thus boosting efficiency and minimizing risk. Using a public / private Interchain for Proof-of-Existence allows for business to demonstrate transactions in a public and decentralized way, while keeping their data private and secure. By using Proof-of-Existence, businesses can prove that a transaction occurred or that a transaction didn’t occur. The next time someone asks you, “If a tree falls in the woods, did it really fall?” with Proof-of-Existence, you’ll know the real answer.
If you’d like to start utilizing Dragonchain’s secure hybrid blockchain for your business, contact us at: sales@dragonchain.com
This article appeared first on Dragonchain’s blog: https://dragonchain.com/blog/proof-of-existence-10-years-satoshi-nakamotos-vision
