Dragonchain Cryptocurrency Review
3 min read

Ether Competitor Dragonchain Offers Unique Hybrid Blockchain Tech

By Editorial Team

The innovative Ethereum competitor known as Dragonchain has completed its ICO and its tokens are now available on the market. But what is Dragonchain, and how does it plan to compete with Ethereum?

Read on to learn more about this exciting cryptocurrency that was created by Disney at their technology lab in Seattle, Washington.

Cryptocurrency by Disney?

Dragonchain Cryptocurrency Logo
Image via Dragonchain

Oddly enough, a few years ago the Disney Corporation became interested in blockchain technology. As a result, they asked their team in Seattle to create some interesting blockchain software.

However, they ended up abandoning the project. The results of that project where than later spun off into an open source, nonprofit organization which is now in charge of Dragonchain.

Today, the nonprofit that controls Dragonchain has no official connection with Disney.

An Ethereum competitor

Ethereum works entirely on a public blockchain system. This can be a good thing, as it allows for widespread decentralization and transparency. While these can be valuable and useful attributes, they are not ideal for every situation.

For example, many established companies have large stockpiles of sensitive data. This could include customer information, credit card and bank information and so on. This is not the kind of thing you would want to put on a public blockchain.

Even if they were to encrypt the information before putting it on chain, due to the nature of blockchain’s data permanence, it would only be a matter of time until said encrypted data would be decrypted by an unauthorized party.

The alternative to an open public blockchain is a private blockchain. That being, a blockchain that is only accessible to those who are authorized to do so. Private blockchains, however, suffer from their own issues. Notably, they tend to be very centralized and thus prone to attack.

A hybrid chain solution

Dragonchain Cryptocurrency Explained

Dragonchain intends to offer a unique hybrid blockchain solution that allows for public and private chains to coexist and operate together. It is through this method and several other interesting initiatives that give Dragonchain its edge, or at least it’s distinction from Ethereum.

Additionally, the project aims to eventually support most all major modern programming languages for it smart contracts. While Ethereum smart contracts can only be programmed in a specific set of languages that are unique to Ethereum, allowing programmers and developers to write smart contracts in modern languages like Python or C# could be a game changer in its own right.

Technical solutions aside, Dragonchain’s intent is to foster an environment for startups to grow, and for existing businesses to enter the blockchain space. This is done in part through a process of what essentially appears to be staking of their own Dragon token.

Will Dragonchain replace Ethereum?

Dragonchain seems to be targeted at specific use cases, and for businesses that need a hybrid blockchain to secure private data. For blockchain projects that do not require this hybrid approach, Ethereum may be preferred. We also don’t know yet what sort of network or use fees will be seen on Dragonchain, or how Ethereum will handle its own scaling.

It is pretty clear that Dragonchain is offering something very interesting and that could appeal to many businesses around the world.

Featured Image via Fotolia

Editors at large. Posting the latest news, reviews and analysis to hit the blockchain.
View all posts by Editorial Team -> Best Crypto Deals ->

Latest Posts

Huobi Global Review
Huobi Global Review 2022: Good Exchange with DEEP Liquidity
Huobi Global Review

Huobi Global Review 2022: Good Exchange with DEEP Liquidity

June 29, 2022 37 min read
FTX vs FTX US Review
FTX vs FTX US: Which one is BEST for You?
FTX vs FTX US Review

FTX vs FTX US: Which one is BEST for You?

June 27, 2022 14 min read
Bancor Review
Bancor Review: Impermanent Loss Protector?
Bancor Review

Bancor Review: Impermanent Loss Protector?

June 22, 2022 15 min read
Bridge Mutual Review
Bridge Mutual: Insurance for your Crypto
Bridge Mutual Review

Bridge Mutual: Insurance for your Crypto

June 22nd, 2022 22 min read
Serum Review
Serum Review: Solana’s One-Stop DeFi Toolbelt
Serum Review

Serum Review: Solana’s One-Stop DeFi Toolbelt

June 16, 2022 17 min read
Raydium Review: Solana’s DeFi Liquidity Mammoth

Raydium Review: Solana’s DeFi Liquidity Mammoth

June 11, 2022 17 min read
crypto com
Crypto.com Exchange Review 2022: A World-Class Crypto Exchange
crypto com

Crypto.com Exchange Review 2022: A World-Class Crypto Exchange

June 14th, 2022 30 min read

Related Posts

Huobi Global Review
Huobi Global Review 2022: Good Exchange with DEEP Liquidity
Huobi Global Review

Huobi Global Review 2022: Good Exchange with DEEP Liquidity

June 29, 2022 37 min read
FTX vs FTX US Review
FTX vs FTX US: Which one is BEST for You?
FTX vs FTX US Review

FTX vs FTX US: Which one is BEST for You?

June 27, 2022 14 min read
Bancor Review
Bancor Review: Impermanent Loss Protector?
Bancor Review

Bancor Review: Impermanent Loss Protector?

June 22, 2022 15 min read
Bridge Mutual Review
Bridge Mutual: Insurance for your Crypto
Bridge Mutual Review

Bridge Mutual: Insurance for your Crypto

June 22nd, 2022 22 min read
Serum Review
Serum Review: Solana’s One-Stop DeFi Toolbelt
Serum Review

Serum Review: Solana’s One-Stop DeFi Toolbelt

June 16, 2022 17 min read
Raydium Review: Solana’s DeFi Liquidity Mammoth

Raydium Review: Solana’s DeFi Liquidity Mammoth

June 11, 2022 17 min read
Top Desktop Crypto Wallets
The 8 Best Desktop Wallets in 2022
Top Desktop Crypto Wallets

The 8 Best Desktop Wallets in 2022

May 30, 2022 16 min read