Question 1

What is it?

Accepted Answer

Dragonchain is a blockchain platform initially developed at Disney in 2014. It's a hybrid blockchain, meaning it accommodates both private (business) and public (external) operations. Uniquely, Dragonchain separates business data from the actual proof on the blockchain, ensuring enterprise data privacy and securing transactions through combined networks like Bitcoin and Ethereum.

Question 2

What is used for?

Accepted Answer

Dragonchain's foundational structure, Dragon Net, epitomizes a revolutionary "blockchain of blockchains" approach, decentralizing transaction verifications to enhance block security and ensure the integrity of the data they contain. Network participants receive Dragons, credits within the ecosystem, as rewards, underscoring the central role of its native cryptocurrency, Dragon (DRGN), in influencing smart contract functionalities and incentivizing engagement. The platform's unique "TIME" concept encourages DRGN retention by offering transaction fee reductions, fostering continuous involvement and ecosystem investment. Dragonchain excels in its versatility, engineered specifically for effortless integration with existing enterprise applications, thereby simplifying blockchain adoption irrespective of individuals’ expertise in cryptography or distributed systems. It prioritizes data security and confidentiality by uniquely separating validation proof from actual data, ensuring business information remains protected during external interactions. Its advanced Interchain technology promotes secure, versatile transactions and communications across multiple blockchains, not only facilitating asset transfers but also harnessing each chain’s unique security protocols and functions. Beyond its blockchain compatibility, Dragonchain extends its reach into traditional infrastructures, injecting enhanced security and functionality into sectors like accounting, human resources, and healthcare. This holistic approach significantly amplifies the breadth and security of digital operations across various industries.

Question 3

How does transaction verification work?

Accepted Answer

Dragonchain introduces a five-level verification system for transactions, enhancing security and validation at each step. The levels range from initial business verification and approval to network diversity checks and external notary verifications, culminating with a public checkpoint that records a hash of the transactions on public blockchains like Bitcoin and Ethereum.

Question 4

Who created it?

Accepted Answer

The Dragonchain Foundation, established in January 2017, is a non-profit organization dedicated to overseeing the ownership, stewardship, and upkeep of the Dragonchain open-source software. Joe Roets, the mastermind, founder, and CEO of Dragonchain, boasts over two decades of expertise in software design, emphasizing security and scalability. A veteran in establishing and guiding tech startups, Joe is a recognized innovator in the blockchain sector. His contributions span across renowned companies including The Walt Disney Company, Lockheed Martin, Overstock, Coinbase, and Compuware.