DragonChain (DRGN) Review & Analysis – DragonChain Review

DragonChain

A New Era of Blockchain Technology

About DragonChain
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ERC20 Token

Dragonchain provides a commercial platform for application developers to rapidly and securely deploy Blockchain applications while maintaining existing language development environments (e.g. Java, Python, Node, C#, Go); a tremendous costing and speed to market advantage. The Dragonchain architecture is also designed to allow nodes to handle approval of transactions based upon five levels of network consensus to provide a spectrum of trust to data consumers; a level of security and flexibility unseen in the market by current blockchain solution providers.

Security – Independent verification nodes handle approval of transactions based upon five levels of network consensus. Sensitive business logic and smart contract functionality is kept proprietary; with Dragonchain you retain complete control of your data.
Cost Effective – As a cloud-based service, Dragonchain eliminates the need to maintain servers, implement patches, or upgrades; development resources can go towards creating applications and smart contracts. Start building immediately in any programming language.
Interchain Deployment – Watch and process transactions blockchains such as Bitcoin, Ethereum, Ethereum Classic, and NEO, and invoke business logic on Dragonchain and other public blockchains.

“Dragonchain didn’t build the company to build the technology. We built the company to serve human needs.”

Positives

At it’s core, DragonChain fits into what is usually called a BaaS platform (Blockchain as a Service). While there are many centralized parties involved with the inner workings of these projects, they’re absolutely essential to the adoption of Blockchain Technology in Enterprise Applications. Out of all of the BaaS projects we’ve covered here, Dragonchain is one of the most developed and feature rich projects we’ve come across. Just take a look at Dragonchains potential use-cases and you’ll realize how versatile BaaS projects can be. We’re not calling Dragonchain the be all and end all of BaaS platforms but it’s got some serious potential. Dragonchain works directly with clients to help them realize and develop ideas on how to create/optimize new or existing solutions using Blockchain Tech and breaks down the barrier for developers who aren’t familiar with languages such as Solidity by enabling the creation of Smart Contracts through Java, C# and other popular, well known coding languages. These projects are where adoption starts and as it stands today (November 2018), DragonChain is extremely undervalued.
We’ve got to include some fairly recent news in this review. Usually we don’t cover specific news events as “Positives” but with DragonChain recently securing their Interchain patent, it marks a huge step for the project and one that will ensure they stay ahead of the majority and at arms with direct competitors. Interchain in short enables DragonChain to interact with Blockchains such as Bitcoin, Ethereum, NEO, Hashgraph while opening up the possibility to interact with specific use-case blockchains such as Siacoin through community voting. Enterprise clients shouldn’t be burdened with Bitcoins scalability issues or the easily congested Ethereum Blockchain as this just introduces more barriers to entry which is a red flag for most companies. Being able to take advantage of multiple blockchains provides clients with a “no nonsense” experience and one that they don’t need to worry about. Interchain also ensures that sensitive data is kept private and in the hands of clients at all times. Although Blockchain Technology is secure and immutable, it’s also transparent in nature which (we imagine) would scare some clients off completely; Interchain keeps clients safe. Check out more on Interchain here
We love a solid token model and DRGN boasts a very interesting model with plenty of utility, especially with DDSS (Dragon Days of Slumber Score) coming in Q2 2019. Dragonchains DDSS model provides DRGN holders a score depending on the amount of DRGN held and how long those tokens have been held for. We’ll keep it short but the incentives for Clients, Investors and even Developers are plenty. Investors benefit from a tried and true Masternode model where they’re rewarded for providing operation & security to the network. Clients gain access to various marketing tools, discounted services, etc and Developers are given access to various applications and systems on Dragonchain. We’d recommend checking out this Infographic for a more visual look at how DDSS will work. While DDSS is just one aspect of the DRGN token model, we’re especially excited to see it implemented in mid-2019. With DDSS, DRGN will have one of the more unique token models compared to other BaaS platforms out there where Everyone involved in the ecosystem has an incentive to own the DRGN token, and you can’t ask for much more than that. Take a look at some of the recently launched & upcoming Dragonchain projects in this article by CryptoSlate or on Dragonchains “Marketplace” page.
If you’re an investor who considers a strong Team to be absolutely essential, you’re in for a treat. Joe Roets (Founder & CEO of Dragonchain) has over 20 years of experience in software architecture focusing on security and scalability and has led or contributed to projects in the space since 2010 at companies such as Overstock, Coinbase, Symbiont, & the Walt Disney Company. | Chris Jones (President of Dragonchain) brings over 20 years of marketing experience and has previously held key executive roles with Adidas America, Mattel, and Boost Mobile. | We could go on here but it’s better if you take a look for yourself. The Team behind Dragonchain is of an A+ caliber.
We’ll go further into this point in our “Price Prediction” section but we’ve got to mention the current value of DRGN as a “Positive” solely based on the potential upside the token has when observing its All time high compared to where it sits today at around $0.10 USD. Peaking at around $5.00 USD at the top of the 2017 bull run, DRGN experienced an insane amount of hype which has resulted in it being one of the hardest hit in this recent bear market (November 2018). From an investors point of view, DRGN is a steal at these prices and we’d have to agree. If you’re prepared to hold through plenty of resistance on the way back up, you’re looking at a 50x increase if DRGN can climb back up to it’s previous high. There WAS a reason for the hype back in 2017; Dragonchains Community is absolutely relentless and is by far one of the best marketing tools the project has. It’s hard to scroll through Twitter or Reddit without seeing news or recent developments regarding Dragonchain at some point. You may have your opinions on whether Dragonchain is overly “shilled” but at the end of the day you can’t deny that Dragonchains community is by far one of the most dedicated out there.

Concerns

Brushing the obvious FUD produced by investors who “bought the top” aside, we really only have a few small concerns regarding DragonChain. First off; DragonChain isn’t the first BaaS to provide interoperability solutions, there IS competition in this space and it’s pretty fierce. The deciding factor that will set these BaaS platforms apart from each other will be their ability to attract big clients. We’ve called it a “race to the top” when reviewing other BaaS Projects and it applies here too. We’ve been following Dragonchain for a while now and it’s evident that the Team is much more concerned with building a platform that is “good to go” from the start, rather than slowly improving a half built solution in a rush to onboard as many clients as they can. We like that approach.
Secondly, the only other real concern we’d have is for the future of ICOs on the Dragonchain platform. With the bad taste left in retail investors mouths after the fall of many hyped up ICOs in late 2017, there’s hardly any confidence in new projects which is a shame. We’ve seen several projects on Ethereum and NEO fail to gather the funding they need to build on their vision despite being extremely impressive from a fundamental point of view. This is less of a concern with Dragonchain in particular and more of a concern for the “ICO” space as a whole. With that being said, if we do see another “ICO craze” you can bet Dragonchain will be making their presence known. It’s worth noting here that Dragonchain isn’t dependent on an ICO/Crowdfunding model. It won’t fail if ICOs are to become a thing of the past.
Regarding the proposed “Ecosystem for sharing and monetization of Smart Contracts”, there seems to be a developing discussion about BaaS platforms as a whole concerning the legal liability developers/companies may or should have when it comes to developing Smart Contracts/Blockchain Solutions and who would be responsible for a critical error in a contract should these contracts be used in major ways such as enterprise applications. Yes, most BaaS platforms including Dragonchain plan to audit the Smart Contracts available to their clients but who would be responsible for the potential damages caused by a bug in a Smart Contract or slow transaction times caused by network congestion? It’s a developing space with potential future issues that will no doubt be encountered. We won’t pretend that we have a solution because we don’t, we’re sure Dragonchain has plans in place. No other concerns here.

Price Predictions

Please note: This Price Prediction section was a feature voted on by our community on Twitter. We do not stand by any of the following statements, we are merely speculating. We have been known to be pretty bullish on most projects we review, so take our predictions and DYOR.
As always, we like to take a step back and look at projects from a purely investment based perspective. DRGN will no doubt see a ton of organic price growth through exchange listings and planned marketing in the future. To be honest, we’re not entirely sure why DRGN isn’t on more exchanges yet. any investments now would have a pretty good chance of appreciating from these catalysts, although any investment comes with risk. Now sitting at around a $25m Market Cap after coming down from an All Time High market cap of a massive $1.2b back at the peak of the bull market (Dec/Jan 2018), DRGN still has a huge amount of growth potential in the long term based on fundamentals and some insane upside potential assuming we see a return to those 2017 levels. With the endless possibilities that Blockchain Technology presents to Businesses, Organisations and other Enterprise clients, the value of DRGN could skyrocket if we see a number of big Clients take advantage of Dragonchains services. Once Blockchain Technology can separate itself from the typical “Cryptocurrency” buzzword, these BaaS services will become more legitimate in the eyes of those who aren’t familiar or don’t want to deal with Bitcoin, etc.
Short term (< 3 Months) We think DRGN could be sitting anywhere from a stable $0.15 to $0.30 taking the current market conditions into consideration.
Mid Term (6 – 12 Months) we think DRGN could be a stable $0.50 to $1.00, especially if the market turns around in the next few months.
Anywhere past 12 months would be impossible to accurately speculate on but we’d be confident on a $3.00 to $4.00+ DRGN in 1+ years, especially if we see clients start utilizing the Dragonchain Platform. We’ve already seen how DRGN performs in a bull market and there’s not much doubt about whether we’ll see another bull run in the next year. The current DRGN supply is just under 240,000,000 Million (November 2018), so a $4.00 DRGN would see a return to that $1B+ valuation. Keep in mind that BaaS projects can be EXTREMELY lucrative if they garner adoption and are designed to cater for various industry sectors. Plenty of potential clients in the future.
As with any investment, you absolutely must do your own research. We are by no means providing financial advice. Be smart!