Dragonchain represents a unique hybrid blockchain platform designed specifically for small businesses, enterprises, and developers. Originally conceived within The Walt Disney Company by Joe Roets in 2014 in Seattle, it became open-source in 2016. This platform, which marries public and private blockchain elements, facilitates integration with both external blockchains and legacy systems via Interchain™. It can incorporate third-party oracles, APIs, IoT, supply chain, and other business data seamlessly. In 2016, Dragonchain demonstrated its interoperability and presently uses its Interchain™ to link with Bitcoin, Ethereum, Binance Chain, and Ethereum Classic. The platform allows for straightforward migration from off-chain to on-chain while still being GDPR compliant. Developers have the flexibility to code smart contracts in any language they prefer, such as C++, Go, JavaScript, Java, Python, Ruby, Shell, C#, Hy, Rails, PHP, and many others, enabling them to create decentralized blockchain applications either on-premise or in various cloud environments. Noteworthy features include quantum encryption and signing, behavioral systems, a social forum and governance marketplace, predictive analytics, and complexity science for managing supply chain systems, as well as environmental tracking and accounting.
On January 7, 2020, Dragonchain showcased its ability to handle over 250 million transactions during a 24-hour live-streamed event, achieving an average of more than 1500 transactions per second. Later in the year, Medek Health introduced Covid SafePass in collaboration with the City of Apopka, utilizing Dragonchain's blockchain solutions in accordance with FDA guidance on Digital Health Policies and Public Health Solutions for COVID-19. Dragonchain has also developed several in-house solutions atop the open-source platform, including Dragon Factor (decentralized identity), Den (decentralized social media), Provably Fair Contest System (for contests, casinos, lotteries, giveaways), Lyceum (training courses and certificates on chain), and Eternal (for archiving, legal proof, and predictions).
How to ‘mine’?
Mining is not part of the process. Instead, the community functions as a decentralized service that handles validation, diversity, and notarization. One of Dragonchain's patented innovations pertains to loyalty and rewards on the blockchain. Enterprises build their applications on a private Level 1 Business node, while the Dragonchain community and selected partners operate their own Level 2 Validation, Level 3 Diversity, and Level 4 Notary nodes. Level 5 nodes serve as public checkpoints to external blockchains like Bitcoin, Ethereum, and Binance Chain. These Level 5 nodes can be managed by Dragonchain or by the associated blockchain itself through a partner program, facilitating interoperability across all blockchains.
For those in the Dragonchain community running nodes, the rewards they receive are influenced by the amount of TIME they allocate to a specific level. TIME acts as a loyalty score atop the DRGN token. For each DRGN held in a non-exchange wallet, a user automatically earns 1 TIME loyalty score per day. The greater the TIME applied to an L2, L3, or L4 node, the higher the rewards when the node is selected through the matchmaking process. Community members who secure Dragon Net’s five levels of trust can either join pooled nodes or operate their own unmanaged nodes.
