Receive all Cointelegraph news immediately in Telegram.
New Ethereum challenger previously incubated in Disney tech department aims to provide hybrid immutable digital ledger.
As of late September 2017, the nonprofit group Dragonchain Foundation is planning to commercialize the Blockchain technology-based Dragonchain in order to compete against enterprise-oriented Blockchains like Ethereum.
The foundation has also established the commercial company called Dragonchain Inc. to assist other firms in adopting the technology quickly and easily.
According to Dragonchain Inc CEO, Joe Roets, the Dragonchain platform features a built-in encryption and obfuscation technology that resolve the real world issues hindering public Blockchain.
"We realized some of the real world problems are that companies have access to traditional engineers, but they don't necessarily have a crypto background. If you go even further into Blockchain, you need an economist or a game theory expert."
In 2014, the technology-focused office of Walt Disney Company in Seattle, Washington commenced the development of the Dragonchain Blockchain protocol. The protocol was designed to be more private than the leading Blockchains such as the Bitcoin and the Ethereum protocols. The project aimed to create a secure asset management system that will be used by the company in its internal operations.
However, in 2016, Walt Disney decided to abandon the project and opted to make Dragonchain an open source platform. The Dragonchain Foundation was then established by a group of former Disney staff to manage the upkeep of the protocol. The group is now eyeing to look for funds to finance the commercialization of the protocol.
Dragonchain aims to be the digital ledger that employs complex algorithms to record transactions in a way that cannot be easily altered. But unlike the Bitcoin and Ethereum protocols that are public, the Dragonchain protocol is hybrid, meaning that some of its information is private and some is public.
Follow us on Facebook
For updates and exclusive offers, enter your e-mail below.
Thank you for contacting us! We will reply to you as soon as possible.
Thank you for your interest in our franchise program.
We are considering your request and will contact you in due course. If you have any further queries, please contact: