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New Blockchain Solution Dragonchain Has Been Made Open Source

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Blockchain enthusiasts were all too aware of how Disney is working on distributed ledger technology as well. The company has open sourced their dragon chain concept, which, in theory, makes it easier to integrate advanced blockchain features for third parties. Quite an exciting development, as integration existing systems with blockchain, has proven to be quite a challenge so far.

Dragonchain is officially labeled as a blockchain platform that encompasses everything one would need to integrate distributed ledger features. This internal blockchain platform provides a foundation to develop these features as the enterprise or user sees fit.Additionally, the project also offers a network-wide interface, an efficient data distribution model, and cryptographic capabilities.

Dragonchain Is A New Blockchain Contender

It has become apparent a lot of companies and institutions are looking at integrating blockchain into their existing infrastructure. That is much easier said than done, though, which explains why most blockchain projects use proprietary technology, to begin with. Groups such as the Hyperledger Project, Ripple, and the R3 Consortium are looking to create new standards which apply to industries as a whole.

To alleviate some of these concerns, Dragonchain is capable of making integration into real business applications much smoother. Simplified solutions are in high demand, yet that does not mean they are less powerful by any means. Dragonchain offers a lot of popular functionalities, including smart contract support and asset management.

While this solution has been made open source and should make it easier to integrate into existing systems, engineers will still need to be familiar with distributed systems. The architecture of Dragonchain has been simplified to allow for high flexibility, while still providing protection of sensitive data.

What is the bigger question is how this blockchain will be powered. In the Bitcoin world, proof-of-work is required to add more information to the blockchain and confirm transactions. For Dragonchain, it looks like a different system is being used, which always raises a few questions among blockchain enthusiasts.

In the end, it is good to see a simplified blockchain platform being open sourced. All of the proprietary ledgers in development right now will create new sets of problems iregardingcommunicating with one another. While it is too early to tell if Dragonchain is the answer to all of these problems, it is an interesting option to keep an eye on.

Header image courtesy of Shutterstock

JP Buntinx
JP Buntinx
JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.

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