DRAGONCHAIN
I think this project is quite interesting. It has a real utility, is backed by a great team and so far go quite well with the ICO.
According to their website, "the Dragonchain platform attempts to simplify integration of real business applications onto a blockchain. Providing features such as easy integration, protection of business data, fixed 5 second blocks, currency agnosticism, and interop features, Dragonchain shines a new and interesting light on blockchain technology"
This is a fairly simple video with some basics about technology:
The team is and their advisors are strong enough to believe in this project.
Joe Roets (Chief Architect, Founder, CEO at Dragonchain)
John Joseph Roets is a successful Software and Systems Architect, having served as architect and designer on numerous successful and long lasting systems. As Chief Architect of createTank, he was responsible for several advanced software R&D projects, including the premier open source SOA framework, elemenope. His forward thinking and advanced software architectural concepts have proven themselves for years in production environments. He is responsible for the architecture and implementation of several critical commercial and federal government projects deployed to 24/7 production environments since the mid-90's. Mr. Roets is considered an expert in Service Oriented Architecture, Enterprise Architecture, Software Design, and Software Team Leadership.
George Sarhanis (Chief Bussines Officer)
Bejamin Israelson (Lead Dev)
Brandon Kite (Lead Dev)
Among advisors we can find Jeff Garzik (Co-Founder Bloq), Ed Fries (Co-Founder x-box), Tom Bush (Fmr assistant director-FBI CJIS Division) and Matthew Roszak (Co-founder Bloq)
Timeline:
Token Sale:
Token Info:
Token name: Dragon
Ticker/symbol: DRGN
Token model: Tokenized Micro License (patent pending)
Token standard: Ethereum ERC20
Country of origin: USA
How to buy?
The ICO ends in 28 days. So far they have raised 6029.51 ETH and 177.11 BTC for a total of $ 2,555,812.39 USD. I think it's a pretty significant figure
You can buy Dragons with ETH or BTC. Once the initial sale is complete, the Dragons will be transferred to a wallet that supports ERC20 tokens. They recommend MEW https://www.myetherwallet.com/
In the web page, we find quite interesting answers:
#History + Disney
#What is the relationship or association between Disney and Dragonchain?
Dragonchain was originally developed at Disney’s Seattle office in 2015 and 2016 as the Disney Private Blockchain Platform. Over 20 use cases and applications were explored and documented publicly via the W3C Blockchain Community Group. The platform was later released as open source software under the Apache 2 license in October of 2016.
The Dragonchain Foundation, a Non-Profit Corporation was created in January of 2017 to maintain ownership and responsibility of the open source code.
#What is the price for one Dragon?
#Also: How much ETH per Dragon?
The price of a Dragon will be set by the market over the period of the sale. Participants will receive Dragons equal in value to the BTC or ETH contributed.
Basically direct conversion from Bitcoin or Ethereum to Dragons at the fairest price possible.
Market price for Dragons will be determined at close of sale based upon total amount raised (against fixed supply available in public sale [55% of total supply] = 238,421,940 Dragons]).
How does the market set the price? Please give an example.
Let’s say you put in 1 BTC.
Total raise is 10 BTC.
You get 10% of all dragons in public sale pool.
If contributing ETH, we convert to BTC at least daily based upon Bittrex closing price of ETH/BTC and use that value in the calculation.
We do NOT consider USD price in the calculation.
What value will a Dragon have?
Dragons are modeled to reflect the value of Dragonchain fundamentals (i.e. platform + incubator + ecosystem) and we expect that value to increase as the ecosystem matures.
We have announced a powerful and valuable Board of Advisors and incubated projects to reflect that.
Do you have any contacts with amazon and google for implementing your services
Our architecture is a hybrid blockchain with levels of trust.
The base level where business logic lives is trusted and therefore allows running an independent blockchain.
This also allows us to host on a serverless or microservices cloud platform.
Our first integration will be on Amazon AWS, and we expect to follow with Google and other platforms.
Why aren’t my Dragons showing up in my wallet?
Also: When will Dragons be distributed?
Dragons will be distributed after the public sale is completed + enough time to complete at least one internal and independent external audit.
What are the wallet settings for DRGN / Dragons?
These details will be published before the distribution of Dragons.
What is the Ethereum address?
The Ethereum address is 0x8bA7408497883d3a569066FA3a331aa892138868
Do not trust any address not signed by the BTC address: 1DRA8KjFPZ62XdEGSmFEneRj8UqVVCAEnL
See signature block below…
-----BEGIN BITCOIN SIGNED MESSAGE-----
This is an official URL and address from Dragonchain
https://dragonchain.com/tokensale
ETH 0x8bA7408497883d3a569066FA3a331aa892138868
-----BEGIN SIGNATURE-----
1DRA8KjFPZ62XdEGSmFEneRj8UqVVCAEnL
IPtQF/SjWlVe6emApKPHvFts809uv9XH06wAKAUL/n3TIdJsBeNPmAIRDfoUM63EWh9aiCADdcypBxM1jp05e2w=
-----END BITCOIN SIGNED MESSAGE-----
To verify the signature: https://tools.bitcoin.com/verify-message/
Is there a whitelist?
Also: Is there a KYC process?
There is no whitelist - anyone can join.
There is no KYC process or pre-registration to participate.
**How are you planning to stop big whales from buying and dumping coins when DRGN comes out?
If you receive no discount and put in say 1000 BTC - you will receive 1000 BTC worth of Dragons - what would make you dump?**
If everyone else received proportional shares in the same manner, what would cause them to dump? The risk of dumping is in the team distribution where they have not put in money - which is why we are distributing team & partner tokens slowly over 2 years.
For a good explanation and an exploration of ICO modeling and how Dragonchain compares, read our latest mention in VentureBeat: What Vitalik Buterin’s new ICO proposal gets wrong.
Is there a cap for the token sale?
There is a fixed supply of 433,494,437 Dragons. There is no cap on contributions and Dragons will be distributed proportionally based upon Bitcoin value contributed per sending address.
Is there a hard cap?
There is no hard or soft cap.
Can people minie for Dragons after the sale? Will no more be created in the future?
We are planning or considering several sidechains to provide mining and other proof based security for Dragonchain and related projects, but no more Dragons will ever be created.
What is the total distribution of Dragons?
See the Token Sale document for a pretty table and diagram.
Category Percentage Dragons
Public 55% 238,421,940
Team 20% 86,698,887
Foundation 10% 43,349,444
Dragonchain Reserves 10% 43,349,444
Dragon Fund (Incubator) 5% 21,674,722
Are you in discussions with any exchange platforms to be listed?
We are not commenting on exchange listings at this time.
With the BTC hardfork around the corner , is it best to wait to invest, as BTC may be higher now than it will be in 3 weeks?
Actually, the BTC/USD price will not be a factor -
We are doing all calculations for token distribution based upon BTC price with no consideration for USD or other fiat pricing.
1 BTC on Oct 2 = 1 BTC on Nov 2.
TECHNICAL INFO
What makes Dragonchain different / better?
-It’s a hybrid system that lets a business (enterprise or startup) have its own chain and achieve enterprise consensus in stages all the way to one or more public blockchains (eg BTC or ETH).
-The architecture allows a project to control exposure of sensitive business data and smart contract logic.
-It doesn’t require the use of a currency (full trust at first layer).
-It can support multiple currencies on one chain.
-We have successfully demonstrated that a project can start without full knowledge of its economy and monetize activity or assets late in the process.
-The commercial platform utlizes serverless architecture to enable simple and powerful scaling.
-Developers may code smart contracts in Java, Python, Node, or C#.
-There will be an incubator and marketplace for new projects.
-Much, much more - please read the architecture document and the business summary document.
-Why is Dragonchain needed, or why aren’t Bitcoin and Ethereum good enough?
-We would never say that Bitcoin (especially Bitcoin) or Ethereum are “not good enough” - in fact, our architecture specifically calls to leverage the massive and unprecedented value of public blockchains (especially Bitcoin with its hash power). This may be hard to quickly explain, but we want to make integration of legacy and new systems with blockchain much easier and less risky than it currently is.
As an example, currently, if you want to build a blockchain backed system with Bitcoin, you will need to both (1) create a wholly complete internal and centralized system to maintain your customer/private data and (2) have enough knowledge of Bitcoin to integrate that system with Bitcoin tokenization or other PoE capabilities.
With Ethereum, you will also need advanced Ethereum knowledge, and though you can now use more capable smart contracts than are available in the Bitcoin ecosystem, you will have to take some risk in the unknown unknowns with the network, as well as the known risks of community forking.
At the same time, an entirely private blockchain or permissioned ledger has many weaknesses.
We consider the Dragonchain architecture to offer a spectrum of risk from simple and total internal trust, up through various verification contexts, and all the way to a public bridge to a proof of existence/checkpoint into Bitcoin (or other) public blockchain.
We’re attempting to mix a “tried and true” classical software architecture (security and scalability) with a decentralized blockchain system, with simplified integration for those without blockchain experience, whilst allowing an organization to retain complete and explicit control over its data, processing, and network without worry about the community or public network.
Is the Dragonchain code forked from another project?
The platform was built from scratch in Python at Disney.
What language does the platform use for writing smart contracts?
User may code in Java, Python, Node, or C# for smart contract development.
How are Dragons used?
Dragons are used for access to any part of the platform (eg spinning up a node, provisioning smart contracts, subscribing to data feeds, access to advanced smart contract libraries, access to incubated projects, and early/discounted access to incubated project tokens)…
So is dragonchain, in essence, making it easier/simpler for companies to utilize blockchain with existing tech/apps and then also foster growth?
Yes… And also new apps.
We take some of the learning curve and rare expertise out of the early process. And make the currency/economic modeling questions more flexible.
** For more info go to:**
https://dragonchain.com/#hero
https://dragonchain.com/faq
https://dragonchain.github.io
In conclusion, it seems to be a fairly serious ICO, with applications of very high potential in the real world, backed by a strong team and well-known companies.
I think it can be an interesting investment. If they can meet all the proposed objectives, there is no doubt that the price will rise significantly. I consider it a long-term investment.
Great ICO glad i invested
Yes, i took a risk with 1 ETH, wish I would have bought more during the ICO. The team is great, and communication is awesome! Everything has gone smoothly so far. Already in the top 100 coins on CMC!
I'm in
You definitely deserve more upvotes for this review! You got mine, thanks!
Thanks!
LOOL COPY PAST the FAQ of the website. How is that a review ?
Thanks for reading the post. Many people do not know the website nor the currency. If someone is interested, they can go deeper into the website. Thats why I put the link for.
Wow nicely laid out ICO review. I have followed you. I dont really invest in ICOs but might watch this one once it hits the exchanges.
Feel free to check out my first post here on steemit!
Thank you very much! I also did not participate in ICOs but this one caught my attention. This would be my first time but I see a lot of potential and I trust the project.
Great review -- thanks! It helped me get around their token distribution model. How many tokens you get per BTC depends on how many total BTC they raise in the sale. I guess that one result of this model will be that many investors will wait until the very end of the period before making a decision on how much to invest.
User may code in Java, Python, Node, or C# for smart contract development - I think this is the best point we can invest in.
But its too late for us to enter in now.?already in rank 80, 100k million market cap