Soon after the launch of bitcoin blockchain in 2008/09, a number of cryptocurrencies were founded in different parts of the world. One of the cryptocurrencies blockchains is the dragonchain cryptocurrency blockchain developed by the Disney company in order to ensure more data privacy in comparison to other existing cryptocurrency blockchains like bitcoin and Ethereum etc. The dragonchain, like other cryptocurrency blockchains, created a highly advanced and transparent ledger technology that provided secured and sophisticated means to digitally track the transfer of materials as well as tracking the ownership of the account holder. Initially, the dragonchain kept the dragonchain technology and application limited to its own internal use in 2014. Later, the dragonchain discontinued its internal project and released the dragonchain cryptocurrency blockchain for open source. If you are interested in cryptocurrency blockchain, contact the most reliable bitcoin agency the Paychain.ca in order to avail bitcoin and secured transactions of your bitcoins.
After the open sourcing of dragonchain in 2016, the dragonchain foundation maintained the protocol through dragchain Inc to promote the commercial interests of other enterprises through dragonchain. In the year 2017, dragonchain Inc launched the DRGN coin which raised 13.7 million USD in the process.
Like the bitcoin and another cryptocurrency blockchain, the blockchain of dragonchain delivers several technological applications like secure protection of business operations and data, currency agnosticism, support to multi-currency, easy and fast integration with various business applications etc. The dragonchain also works on a combination of context- based and basic verification system which utilises several nodes. The basic verification system utilises 5 primary levels of nodes along with the level X category. The level X categorised proprietary context verification node is utilised to enable the business through the implementation of additional verification besides the base levels.
The 5 dragonchain base level of nodes are level one to level five respectively dealing with different utilizations. Accordingly, the 5 levels comprise: level one the business node deals with the processing of transactions and either declining or approving the transactions. The second level is the enterprise validation node towards determining the validation of data decisions provided by the level 1 node. The third is the network diversity node that works to check errant nodes which may further compromise by ensuring numbers of information sources and validate them. The fourth level of a node is the external partner node which is for verifying the third-party, and the final fifth level of a node is the public checkpoint node that operates to interact with other blockchains like bitcoin and other similar public blockchains for providing external evidence of existence for further commitment of blocks within the dragonchain.
