When I first saw Dragonchain and its’ logo it looked more like something related to a kid’s video game rather than a sophisticated Blockchain project. However, after diving deeper and looking into the project a bit more, I uncovered that the project originated from a team at Disney (they are no longer affiliated) that sought to create a private Blockchain platform.
When thinking about potential Blockchain platforms to develop on, Ethereum is generally the first to come to mind for most people. Ethereum is definitely the most widely used and accepted platform for creating different tokens and cryptocurrencies. However, what Dragonchain is currently working on with Private Blockchains is not a feature that is currently available on the Ethereum Network.
The main issue presented with Ethereum is that if many large corporations were to use their platform, it could leave a lot of their sensitive data out in the open. Data for most companies is by far one of their most important assets, and allowing others to potentially gain access to it leaves a huge red flag; there is where Dragonchain comes in.
Dragonchain Blockchain Example
For starters, the founders of Dragonchain want their product to be a “turnkey” platform that will allow for companies with little to no Blockchain experience to easily create a product on-top-of Dragonchain.
With their platform, companies would be able to dictate which data is private or public. This type of flexibility would incentivize companies to try their service because they know that their information would not be at stake.
In their short existence, Dragonchain has already secured support by a minority interest purchase from Red Violet Blockchain and Analytical Solutions, which is a subsidiary of Cogint Inc. (NASDAQ: COGT) who is considered a leader in performance marketing solutions. Their ability to acquire early partnerships definitely speaks volumes about their team and product.
If the concept of Dragonchain is intriguing to you and you do decide to purchase it, there are some perks associated with owning the coin. If you hold your Dragonchain in an Ethereum wallet you would receive what the company calls “Slumber Score Points”. The longer you hold onto the coin; the more points you can accumulate. The benefit from gaining these points are listed on the graphic below:
How can you buy DRGN?
You first need to buy Bitcoin or Ethereum on Coinbase and then transfer it over to your account at KuCoin to exchange it for DRGN. For reference, check out our guide –Cryptocurrency Investing: How to Buy Altcoins. If you get stuck or need help, send us a message through our Facebook page or use our contact page and someone on staff will walk you through the process.