Dragonchain was created by entertainment giant Disney and was originally intended to provide an easy way to integrate business applications on a blockchain.
Blockchain-as-a-Service refers to using a blockchain primarily to run applications via smart contracts. These programs can serve many different purposes. The main use cases include:
- Booking and reservation systems
- Digital identity management
- Transaction and payment processing
- Data storage and protection
The technical operation can be studied in more detail on the project’s documentation. A short video also explains how “Dragons” can be used in a concise way.
Founded in 2014 within Disney, Dragonchain separated from the company at the end of 2016 and is now managed by the Dragonchain Foundation. The chain is designed for both private and enterprise use. Because it allows smart contracts to be written in common programming languages, the range of potential applications is broad.
Dragon Token serves as the gas to execute smart contracts and currently exists as an ERC-20 token on the Ethereum network. Tokens are still available through Dragonchain’s ICO. At the time of writing, a Dragon Token costs approximately €1.38, roughly a quarter of its all-time high of €4.58 per token in January 2018. With a market capitalization exceeding €329 million, Dragonchain ranks among the top 50 cryptocurrencies by market cap.
The flexibility of blockchain technology is one of its greatest strengths. It can be used by individual users and businesses without forcing either party to expose sensitive data. Dragonchain supports multiple programming languages, including Java, Python, Node.js and C#, which makes development accessible to many teams.
Another notable aspect of Dragonchain is its roadmap, which includes launching several “Dragonchain Incubator Projects” each year. An incubator project in this context means providing the opportunity for teams to issue a token using Dragonchain’s existing infrastructure.
Overall, Dragonchain is an intriguing project with real-world potential, but its practical advantages remain to be fully demonstrated. At present, it is one among many projects in the crypto market and, in our assessment, does not yet show a distinct, decisive advantage over comparable platforms.
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