The DragonChain project has quickly taken the world by storm in the past few months. This Disney-backed blockchain venture has a lot of potential, assuming the team can get their business in order. The project has been lauded as being the “most secure, flexible, and business-ready blockchain platform.” It is quite a high expectation to live up to, but there is no reason to think this particular project can’t succeed.
DragonChain in a Nutshell
There are a lot of business opportunities to explore when it comes to blockchain technology. DragonChain positions itself as a solution which allows users to retain complete control of their data. Sensitive business logic and smart contract functionality will be kept proprietary, for obvious reasons. The platform will operate in a scalable and serverless fashion where established programming languages are compatible from day one. This will certainly be appealing to developers looking to get involved with DragonChain and its features.
Taming the Mighty Dragon’s Technology
Even though DragonChain seemingly advertises itself as a magical blockchain platform, its end goals are far more down-to-earth. In a perfect world, DragonChain will compete with the likes of Ethereum. Though it is not a blockchain platform powered by actual dragons, the functionality it provides will pack quite the punch. Considering that this project has been around since 2014, it is evident that a lot of research was done beforehand.
Disney’s blockchain platform was developed throughout 2015 and 2016, before it was eventually launched as an official business-backed venture in 2017. The platform is not fully ready as of right now, but we do know there will be a strong focus on business-oriented use cases and smart contracts. These use cases may include digital identity systems, ticketing, voting, auditing, and payments.
It also seems DragonChain can be used in connection with some of the more innovative financial products. This includes building new peer-to-peer financial derivatives such as futures, bonds, and interest rate swaps. Once all of the technology is in place, we will quickly find out whether or not any of this is actually possible. With the smart contract protocols and APIs currently being developed, DragonChain will reach its full potential sooner rather than later.
The Future of the Dragon-powered Magical Blockchain
The DragonChain roadmap still has plenty of things waiting to be completed. Unlike other projects, the team focuses heavily on training, developing academic programs, and so forth. In March, we will see the commercial version of DragonChain launch on AWS, which will be an interesting stress test. Later this year, the team will implement a reference proof of work algorithm, introduce Heroku add-ons, and launch the commercial Dragonchain dashboard and marketplace. If everything goes according to plan, these features should become accessible by July.