Beginners Guide: DragonChain Review

Welcome to this DragonChain review.

If you are wondering what Dragonchain is, and why it is getting so much hype, you are at the right place.

In this review, we will be sharing a honest assessment of the platform and everything else there is to know about it.

Without wasting much time, let’s jump right in!

dragonchain

Source of the image: https://dragonchain.com/

An Overview Of Dragonchain

Dragonchain is an interesting project with a strong team of crypto enthusiasts behind it. Initially, the project was Disney’s private Blockchain platform released as an open source application.

However, in 2017, the platform was taken over by the Dragonchain Foundation.

We will cover more about the technology behind this platform at later stages of this review, but just to give you a head start, Dragonchain is a Blockchain platform that seeks to create an environment that is completely business-ready.

In other words, the platform’s purpose is to make it easy, and safe, for business applications to integrate with a Blockchain.

Dragonchain provides businesses with their own secure and flexible Blockchains. And what is more? They have great future plans for their users.

Let us listen in as the CEO of Dragonchain explains the gap they intend to fill in the crypto space.

There have been speculations that Dragonchain is still owned by Disney – well, there is no doubt that they are still closely related to the company, but only because a lot of the founding members came from Disney.

That being said, let us find out who the faces are behind this unique Blockchain solution.

The Team Behind Dragonchain

Dragon chain is made up of a large team of highly experienced professionals. Here are a few of the project’s top members.

dragonchain team

Source of the image: https://dragonchain.com/team

The full list of the team members can be found right here.

How to buy the Dragonchain ICO

In late 2017, the Dragonchain team launched their ICO and as imagined, the response was nothing short of amazing.

The number of tokens would be split up as seen below

dragonchain ico

Source of image: https://dragonchain.com/

Dragonchain raised over $13 million from the issuance of their ICO back in 2017.

Known as “dragons”, the Dragonchain tokens can be purchased using either Bitcoin or Ethereum.

What is the Dragonchain ICO Price?

Currently, one dragon goes for $0.2407. However, the participants of the ICO received their tokens in the form of Bitcoin and Ethereum since the platform does not support the use of fiat currencies. The amount to be received will simply be converted from the ETH or BTC invested, into its equivalent number of dragons.

Is There A Limit On Token Sales?

Dragonchain has the capacity to supply up to 433 494 473 dragons, and there are no limits as to the number of tokens that can be sold so long as they are within the stated amount.

How Private Is The Dragonchain Platform?

Dragonchain works with smart contracts, and through the use of these programs, they plan to enhance their platform with the utmost privacy. For those who may not know it yet, smart contracts are certain programs stipulating specific conditions that are only triggered when all conditions are met.

Since the contracts operate entirely on the Blockchain network, they are totally decentralized and cannot in anyway be manipulated by an individual or an organization.

The data contained in the smart contracts is quite sensitive. Dragonchain always tries to keep the information as confidential as possible, even as they allow the data to be accessed and used.

What You Need To Understand About Dragon And The ICO

The Dragon token is available on cryptocurrency exchanges. As it may be seen in the image above, 55% of the tokens were offered to the general public, representing about 238 million dragons.

The team behind the token received 20%, which represented about 86 million tokens, with the remaining 10% and 5%, represented by 43 million and 21 million dragons, each going to the Dragon Foundation and the Dragon Fund respectively.

However, the company agreed that the tokens belonging to the team would be issued over a period of two years.

Compared to most, the company conducted its ICO process a bit differently.

They did not agree in advance on the selling price of the tokens – rather, they decided to determine the price after the sale was concluded.

And, this is what happened…

Everyone who participated in the ICO would be allocated a proportion of the tokens offered to the public during the sale; that is, the 55% represented by 238 million tokens. So, for instance, if an investor made a contribution equivalent to 5% of the funds raised during the ICO, he/she would be allocated an equivalent of 5% of the amount received from the sale of the 238 million tokens.

This was meant to ensure a fair distribution of the sales proceeds, and it sure did.

Dragonchain has been quite successful in raising funds, even before the ICO – back in August 2017, the team issued a pre-sale that ended up raising a whopping $1.4 million, which was used for the marketing and development of the dragon token.

Indeed, the value of each dragon is expected to reflect the various aspects of the Dragonchain platform including the incubator and the ecosystem. And, as the ecosystem continues to mature, the Dragon team is confident that the value of its digital assets will continue on an upward trend, making it an ideal long-term investment.

What is good about the Dragonchain Platform?

  • It does not require the use of fiat currencies to trade; Ethereum and Bitcoin users can easily buy tokens on the platform.
  • It offers hybrid features in the sense that it allows businesses to create their own blockchains on the platform.
  • The platform is compatible with a number of programming languages including Python, Java, C#, and Node.
  • It is compatible with multiple cryptos on a single chain.

Conclusion

There you have it, and we hope you found this Dragonchain review useful.

Dragonchain has an awesome team behind it, and they still have some interesting things in the works, we are excited even as we turn our focus to the project’s next move.

We will certainly be keeping you posted on the latest developments from the Dragonchain team so stay tuned.

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