Dragonchain is a commercial-grade blockchain designed for rapid development and deployment of enterprise blockchain-based applications. The Dragonchain blockchain was build and deployed by the Dragonchain Foundation, a U.S.-based organization. Dragonchain aims to optimize for speed in development and deployment by introducing a unique context-based consensus mechanism that allows users to choose the level of verification they need for a transaction. Dragonchain’s consensus mechanism technology was originally developed at Disney as the Disney Private Blockchain Platform before being released as open source software.
Dragonchain was also built to support an incubation service atop it called DragonFund. Dragonchain’s DragonFund helps start their businesses by means of launching a token and offering legal, technical and marketing advice. \
The Dragonchain beta was released on April 9, 2018.
Dragonchain utilizes existing development environments in Java, Python, Node, C# and Go making it easier and potentially less expensive for companies to build and deploy new services. The platform also operates a serverless model, where all users are required to host and run smart contracts through Amazon Web Services.
Dragonchain introduces the concept of context-based verification as its consensus mechanism. The platform operates through two subsets, commercial and open-source, giving users a choice on the level of security they wish to use. Overall the architecture is better described as a “blockchain of blockchains” with five different levels of consensus available depending on how a user wishes to process transactions. The higher the consensus level the more secure a transaction should be.
The five levels of consensus defined by Dragonchain are: business verification, enterprise verification, network diversity verification, external partner verification, and checkpoint verification. Business verification provides local approval of transactions at the business level. Enterprise verification expands the approval process to the entire network and checks for block and individual transaction validity. Network diversity verification expands on this by ensuring that validations are coming from a sufficiently diverse set of sources. External partner verification has a third party cryptographically sign the records from the previous step. The final level, checkpoint verification, is planned to be used for clients that need to interact with public blockchains like Ethereum or Bitcoin.
Dragonchain's context-based verification mechanisms are meant to allow users to adhere to personal risk tolerance levels and ensure businesses can trust local data or incrementally accept data from partners and foreign nodes.