The market has been incredibly generous this past month to low cap altcoins with many in the community seeing some great returns on projects that had been sitting in accumulation on exchanges like TradeOgre. The coin we’re looking at today is not one of those coins but and older one that I covered in my original string of articles back in April of this year.
I am of course talking about Dragonchain, a project that began with that special Disney magic and then saw a precipitous decline in value during the 2018 bear market. Today in this article I’ll be talking about the major announcements and improvements that DRGN has been making during this sideways Summer.
Before I hop straight into the article I want to provide a brief primer about Dragonchain and what it’s all about in case you haven’t bothered looking at it until now. In brief, Dragonchain is a platform offering services to help launch and grow other company’s blockchain products.
DragonChain aims to provide these projects with an environment for optimal growth and feedback for the production of their blockchain based projects as well as a marketplace for expert assistance and pre-developed smart contracts that can be deployed on the company’s blockchain. For more information regarding how DragonChain functions please see my original article from April.
The past 5 months have been quite eventful for Dragonchain to say the least. Here with this update I’ll be going through three events I’ve selected from the summer to give a picture of what Dragonchain has been up to for those months. To start with I’ll be hitting the major negative piece of news for DRGN the Iagon Pre-Sale Refund and then the project’s response and development following.
Iagon was one of the five projects that Dragonchain had in its “incubator” for growth and was at the end of it’s token pre-sale when the news came out that the sale was paused and that investors would be receiving their money back for their contributions. The decision had come from the Dragonchain team and not the Iagon team who had apparently been just as surprised as everyone else about the ending of the sale.
The Iagon pre-sale cancellation marked it as the third project to have issues while launching on Dragonchain and this setback created an air of uncertainty around the long term viability of the Dragonchain vision. Looking back on the attitude of the crypto market around May the reaction makes a lot of sense. Bitcoin had dropped off a cliff and many were calling for a 3K price along with a multi-year bear market. Coupled with the SEC rumors that they were going to start cracking down on ICOs (Dragonchain is an American blockchain project) many believed they had seen the writing on the wall for Dragonchain.
What followed was a steady decline for the Dragonchain price from 13K Sats in April to a 2K bottom in August. During that time however the Dragonchain team produced several updates to the project and relaunched the Incubator. It’s because of those updates and changes that I’m writing this article and why I currently have a bag of DRGN. Now that the sad stuff is out of the way, let’s cover all the awesome updates that the team has produced since cutting Iagon.
On June 20th, Dragonchain relaunched Dragonscale which was the fancy name for its incubation service and features. This relaunch marked the return of Dragonchain to the ICO world and means that it can begin to help grow and launch projects within the United States.
The manner in which Dragonscale was closed was never really divulged by Dragonchain. Many (including myself) speculate that this closing was due to issues Dragonchain saw with the original Dragonscale’s regulatory compliance and wanted to fix those in order to avoid any legal issues in the future. This relaunch to me means that the team is at this point confident they can offer these growth and launching services to companies in a US regulatory environment.
That is a huge selling point for Dragonchain and has the potential in my eyes to attract projects to this platform for launching and assistance. Being able to confidently say that your project can be incubated and launched with the help of a US based company and US based connections could open a lot of investment doors for a new blockchain project. This relaunch combined with the launch of the marketplace makes Dragonscale a potentially attractive platform for projects to once again launch off of.
One of the final components of the Dragonchain platform is its marketplace. The marketplace itself was launched on September 26th and developed with idea of creating a “one-stop shop” for a business or developer to find and offer products and services to blockchain projects. With this system a business will have access to a pre-built library of smart contracts that can be used, qualified vendors for services, experts, and other incubated projects.
The idea for this service came from market data that showed multiple companies and CEOs were aware of blockchain and the potential business applications, but only half of those aware of the benefits had begun implementation. Dragonchain believes that disconnect in the implementation and recognition of blockchain’s use is due to a lack of education, services, and professional resources. With Dragonscale and the marketplace all of these can be offered through one platform.
Within the marketplace companies will have the ability to buy and sell various services. For a company launching a new blockchain based project these services can be used to help streamline their launch and receive expert opinion. Because of those offerings Dragonchain hopes to have companies launching regardless of their technical and blockchain expertise as they will be able to outsource work and have a simple to use interface for blockchain production.
The other large feature of the marketplace are smart contracts. Within the marketplace a company is able to buy and sell smart contracts including Dragonchain’s own interchain contracts, currency contracts, and custom contracts as well as other pre-built smart contracts. These contracts are made to be reusable by multiple companies, but customization for specific business needs is an option. It’s my understanding that these smart contracts bring about a “build-a-blockchain” (™) service where companies can pick and choose features and services they wish deployed on their blockchain.
Through this marketplace and the support system of Dragonscale any company should be able to launch their own blockchain based product or service.
To learn more about Dragonchain please see the following links:
Website — https://dragonchain.com/
Twitter — https://twitter.com/dragonchaingang
Medium — https://medium.com/@dragonchain
Each company is not without its own setbacks. Dragonchain had issues with many of its incubated projects but they pushed forward. They went ahead and relaunched their growth and incubation platform in this bear market and continued to deliver with the launch of their marketplace. That relaunch and launch completes the main services that they wish to offer companies and I believe they have set themselves up for future success with these products and services.
Thank you for reading today’s article! As always follow me on here or on Twitter @thant1194 or on InvestFeed @thant11 in order to stay up to date on all my articles as I release them. I am not associated with the DRGN team and am a holder of their token. Thank you again for reading. I have to return some video tapes.