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Dragonchain – Disney’s Block Chain Competing with Ethereum

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A relatively unknown concept was introduced by a Satoshi Nakamoto. Until that period in 2008, he was not known anywhere in the digital space. Reports specify that the name was merely an alibi as the true identity of block chain’s developer was masked. Nonetheless, the separate concepts “block” and ‘chain” used by Satoshi would form basis for disruption in the digital community. Later in 2016, the concept was merged and regarded as one word.

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Haven enjoyed massive rapport with investors; the block chain became the envy of many. While many posed strict restrictions on it, futuristic investors and companies sought for partnerships with the technology. At the moment, it had been deployed to many scenarios.

Disney took interest

It was perhaps a shock that the Walt Disney Corporation took interest on the block chain. Before now, Walt Disney had been reputed as the largest media outfit in the world. Headquartered in California, USA, the company has fingers in many mass media pies.

In the year 2015, a few technocrats in the company’s Seattle branch made headway into the block chain technology. In later months particularly in 2016, the platform was nicknamed the Disney Private Blockchain Platform.

It is important to clarify Disney’s interest on the block chain. Haven watched its rapid rise and implementation across multiple platforms; some member of Walt Disney at Seattle opted to throw in their hat to the technology. The idea of creating the Dragonchain was to allow interested businesses enjoy privileges of the block chain.

A Foundation took over

Probably to distance itself from the project and to allow for easier access, the team behind Dragonchain handed it over. In October 2016, the project was converted to open-source platform running on Apache 2 License. Thus, it will function as open-source software.

Soon after, the team created a Non-Profit Corporation known as Dragonchain Foundation. Established in 2007, the Foundation will oversee the running of the platform.

Businesses at receiving end

Tons of companies and businesses are littered over the world today. Before now, digital marketing had been major source of their distribution. Soon after the block chain was launched, most investors and businesses took interest. Of particular interest was the security and transparency of the platform.

However, many are at a loss on its functionality. Dragonchain under the auspices of the Disney Corporation aims at making the block chain as seamless as possible. In the long run, it is expected that interested businesses will make foray into the technology. The undertone to Dragonchain’s development was to make block chain use easy for intending businesses.

Applications are one out of many products most businesses offer. However, the block chain uses special programming languages. Dragonchain’s goal towards this is releasing conventional programming languages for use. Hence, businesses on the platform can create applications and formulate smart contracts using the C++ and Java programming languages. However, the platform is codified with the Python programming language.

Block Chain becomes a Service

In previous chains, we saw many protocols in motion. Dragonchain features a new block chain protocol. The protocol will propel the block chain as service provider. To this end, Dragonchain deploys a new protocol known as Blockchain as a Service (BaaS). The protocol opens the pathway that allows developers and businesses develop applications on the block chain. BaaS is in line with the platform’s goal of integrating the block chain in untouched use cases.

Coming up, the protocol will forge allegiance with traditional programming languages such as Java and Python. It will be cloud-based. Thus, developers’ scope will be development of smart contracts and dApps.

Multiple Blockchain – Solution to Ethereum’s Downside

There are three core variations of block chain. The former comprising public and private chains seemed problematic. The hybrid block chain was perhaps the best out of these. Public chains are permission-less. Thus, many took advantage of this have access to data belonging to other users. Ethereum and Bitcoin are fingered in this allegation as their platforms were public chains. Private chains secured users’ data by restricting permissions.

The downside was difficulty in data transmission. With these two meeting dead ends, the hybrid chain was formulated. Hybrid chains integrate former chains. This many believe fosters trust among its users. Hence, Dragonchain uses the Hybrid block chain as solution to issues on Ethereum. It can however be viewed as posing stiff competition to Ethereum.

Trinity in Dragonchain’s Ecosystem

Ecosystem is at the heart of every chain. Dragonchain’s is quite spectacular as it features impressive upsides. The platform is at the peak. It allows creation of applications and smart contracts using easier programming languages. The platform supported by the Amazon Web Service is scalable and does not require servers.

The incubator that is crowd-scaled allows for creation of decentralized applications. It allows you access to new projects though this is dependent on your slumber scores. Slumber scores are valuations of a user’s token stake and the longevity of such tokens with the user.

The marketplace is one-stop corner for all services offered on the platform. You can access built-in smart contract library while interacting with professional vendors. In related development, the marketplace is the primary channel for clients who wish to have access to quality materials. The marketplace provides critical resources needed for application developments.

The Competition is Rife

Despite having its token backed by Ethereum, Dragonchain leaves no stone unturned in tossing Ethereum to the cold. Haven gathered tri-chains; it offers much scalability than Ethereum. What’s more? You can create applications and smart contracts using easier programming languages. This is lacking on Ethereum and that’s what positions Dragonchain as stiff competitor to Ethereum.

Disclaimer: This essay has been submitted by a student. This is not an example of the work written by our professional essay writers. You can order our professional work here.

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