(DRGN) — Dragonchain-Beginners Guide | Cyber Lion Weekly
What is DRGN?
Dragonchain was developed from 2015 until 2016 at Disneys Seattle offices. During this time over 20 use cases and applications were explored. The platform was released as open source software under the Apache 2 license. In January of 2017, The Dragonchain Foundation, a Non-Profit Corporation was founded to maintain ownership and responsibility of the Dragonchain project. Currently, the focus of the project is to launch a commercial entity to build a serverless architecture platform as well as an incubator.
Dragonchain will help companies which are looking to integrate blockchain technology into their business applications in a quick and efficient manner. Many companies interested in this transition can benefit from increased efficiency, transaction security, and cost reduction from fraud to name a few. Due to the serverless ecosystem companies will be able to use blockchain applications in a private, secure, and relatively easy way. Meaning businesses will now be able to engineer their own smart contracts using common programming languages like Python, C#, and Java on the DragonChain platform.
The commercial platform Dragonchain will provide various benefits to application developers by helping to rapidly and securely deploy blockchain while still allowing developers to program in widely used programming languages such as, Java, Python, Node, C#, and C++. This translates into a tremendous costing, and speed to market advantage.
DragonChain addresses the problem in existing blockchain platforms that restrict the creation of truly secure and scalable blockchain applications in real-world business use cases.
Dragonchain offers solutions in the form of:
Protection of Business Data & Operational Smart Contracts
Established language support for smart contracts (Java, Python, Node, C#, Go, etc.)
Serverless Scalability via Amazon AWS and Google deployments
Secure — Protection of business data and operations
Advanced currency implementations
Smart contract libraries
Dragonchain Platform Benefits
Lower development cost utilizing existing development languages
Faster speed to market
Significantly higher levels of security
Dragonchain will also act as a project incubator that offers professional services, and strategic partnerships to help new companies successfully tokenize the long-term value of their ecosystem. Companies will undergo a standard process for blockchain incubation. They will also be provided with access to legal, technical marketing, and economic experts for advice and support. While the Dragonchain team will help by modeling digital economies that align with a tokens business model. Overall these services will assist tokens to expedite their launch cycles within a sustainable token marketplace.
Dragonchain platform security
Dragonchain network architecture is designed to allow nodes to handle approval of transactions based on five different levels of network consensus that will provide trust to data customers. These levels of security and flexibility are very unique in the blockchain market currently. Dragonchain security structure adds another dimension to the blockchain model. Business nodes will handle transaction approval based upon local and proprietary business logic. The five standardized levels of consensus within the Dragonchain architecture are:
– Business (Approval) Verification –
Provides localized approval and operates primarily on a trust basis.
– Enterprise (Validation) Verification –
Checks for block and individual transaction validity in form, signature, and required data elements.
– Network Diversity Verification –
Ensure that validations of transactions are coming from a sufficiently diverse set of distributed sources.
– External Partner (Notary) Verification –
Cryptographically signs any level 3 verification records that it receives.
– Public Checkpoint Verification
Provides a bridge to one or more public blockchains and allows clients to interact with them.
As the verification level increases for a block, security increases, risk decreases, and measure of risk becomes possible.
Dragonchain has an all-star team with lots of relevant market experience. A majority of them have worked together in the past meaning there’s an established teamwork system between these individuals.
– Maria Smith, vice president of partnerships and payments, Starbucks
Maria serves as the VP of Partnerships and Payments at Starbucks and has over 20 years of financial executive experience. She was previously part of Disney’s Corporate Treasury team, where she oversaw the global consumer payments acceptance relationships.
— Ed Fries, tech industry advisor, and co-founder, Xbox
Ed joined Microsoft in 1986 and, as a vice president, spent 10 years as one of the early developers of Excel and Word. He left the Office team to pursue his passion for interactive entertainment and created Microsoft Game Studios. Over the next eight years, he grew the team from 50 people to over 1200, published over 100 games, and co-founded the Xbox Project, making Microsoft one of the leaders in the video game business.
— Tom Bush, former assistant director, FBI CJIS Division
Tom is a national security, homeland security and law enforcement subject matter expert with over 33 years in federal law enforcement and owner of Tom Bush Consulting.
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This Research Report was originally published at Cyber Lion Weekly