Interchain Between Blockchains and Traditional Systems

What is Dragonchain

DDSS was always about TIME, and this change makes it easier for everyone to explain. For the community, TIME equals the amount of Dragons held in a wallet multiplied by the number of days held. Every Dragon held in a wallet gains 1 TIME per day, with a “last-in-first-out” accounting method. It is a loyalty score now usable in pooled nodes to earn rewards in Dragons. This only marks the beginning of TIME, as users will be able to apply this loyalty score in various ways.

  • With this compatibility, businesses are able to build their own smart contracts on the DragonChain platform using common programming languages.
  • The main updates are in place and the first deployment was the which has been running over 2.5 months.
  • The DRGN platform is the primary one where data between this blockchain network and its clients is stored and secured.
  • The team behind Dragonchain pointed out many characteristics of this platform and ecosystem that give it an advantage over other systems.
  • In a nutshell, the first-mover advantage is evident in the solutions to interoperability from Dragonchain’s Interchain™.

Although token swaps are interesting from a technology standpoint, blockchain companies focusing solely on this myopic approach to interoperability are unlikely to drive adoption. The business world doesn’t understand What is Dragonchain blockchain and cryptocurrency enough yet to want to use it. Unfortunately, full blockchain adoption is still far away, and understanding how token swaps work is typically for the crypto community.

Which Industries Does DragonChain target?

Another example further demonstrating this is the Captured Time Lending Contracts, also known as CTLC. Yet another exists in a user’s ability to spin up their own L1 dragonchain, and pay a transaction fee proportional to their TIME for each transaction broadcast through Net. Inside the community console account, users may lend TIME to developers and enterprises via CTLC, allowing them to decrease transaction costs significantly. After the end of the contract, the full amount of TIME lent returns, along with an additional reward in Dragons.

What is Dragonchain

Users can easily hold their DRGN coins in an ERC-20 compatible wallet. The more DragonChain coins a user holds and the longer they are kept in possession, the higher that user’s Slumber Score will rise. Because DRGN is currently trading on smaller platforms, the DragonChain price could spike higher in the event that a larger exchange like Binance or Poloniex began offering a trading pair including DRGN. As of January 2018, the DragonChain team is raising funds and finishing development of the platform. Although the exact date is currently unannounced, the DRGN platform is expected to fully launch later this year. DRGN is an ERC-20 token so there are several options for where to store it, namely in an ERC-20-compatible wallet.

Context Based Verification

A Lair ownership process is expected to roll out soon to beta participants, which will allow users to propose and own Lairs in various subject areas. Dragon Den further expanded the beta and had major updates in both the frontend and backend. The blue paper for Dragon Den has also been updated with new information. Development of their crypto aware social platform is ongoing and expected to be spun off and launched this year.

It is built on a scalable platform that is also server-less and features built-in protection for all business data thanks to established programming languages. This protection also helps make it friendly for developers, whether you prefer C#, Node, Java, or Python. The Dragonchain Foundation, which is a nonprofit, began in January 2017 with the goal of maintaining and owning the open-source code. Think of Dragonchain as a catalyst for dozens upon dozens of other disruptive blockchain platforms, making the tools easier and more accessible to developers and innovative minds.

This Is How Interchain Works

It is also important to note that a limited presale took place in August 2017 as part of a strategic partner network. The approximately $1.4 million USD raised was earmarked for development and marketing. Regarding the Slumber Swap solution, users should consider that the official site has been shut down. The reason behind it was a dispute with one of the owners of this project that left Dragonchain. Now, the community is waiting for a new solution related to the Dragonchain Slumber Swap solution. The Dragonchain Slumber Score provided by Dragonchain has been working over the last years.

The platform is also scalable which makes it a strong rival to Ethereum which has many unresolved scaling issues. However, the DRGN platform needs more developers to build on the platform and also financial muscle. In the future, new products, solutions and services could be added to this platform. This would certainly have a positive impact on the community and the entire blockchain ecosystem.

The End of EAP: Pooled Nodes, Applying TIME, Console Updates, and Effects of Open Source:

For these smart contracts, Dragonchain intends to offer high levels of privacy. These “smart contracts” trigger when a condition is met, and are stored on the blockchain, making them totally decentralized. But these contracts contain sensitive information, including customer records — so Dragonchain aims to keep the information private, whilst making it accessible and usable. Dragonchain is among a small number of cryptocurrencies and blockchain-related projects that are open to United States citizens as well as international residents. In fact, the sale is U.S. based, and purchases within the country are allowed.

What is Dragonchain

Sorry, the comment form is closed at this time.