In its infancy, blockchain solutions offered encryption, immutability, and some form of distribution. As time went on, we saw new features added including advancements in tokenization, interoperability, and more recently, a surge in Decentralized Autonomous Organizations (DAOs).
The next era in blockchain solutions has begun and with it comes advancements in parallel technologies such as artificial intelligence (AI), the Internet of Things (IoT), and decentralized identity solutions. Over the coming decade, these technologies will be intertwined to create enhanced blockchain solutions that will offer businesses more security for data integrity, accurate analytics, and provable truth.
Although these enhanced Blockchain as a Service features are broadly still being built by other platforms, Dragonchain has been offering several enhanced blockchain solutions for many years. Our enhanced Blockchain as a Service platform can interop with any blockchain and/or traditional business system to bring a more holistic value to businesses that go beyond dollars and cents. Let’s explore some of Dragonchain’s enhanced Blockchain as a Service capabilities.
Interoperable business systems still elude most blockchain service providers. The prevailing thought is that most blockchain networks and traditional business systems are unable to connect and the ones that do are often highly restrictive and complicated for the end-user. Additionally, most interoperability protocols focus solely on token or asset transfers. This limited scope ignores most the real-world challenges facing businesses today.
Dragonchain’s patented interoperability technology, Interchain, focuses on fundamentally connecting any system to a blockchain. Since every business system has its own blockchain, Interchain on Dragonchain makes it possible for businesses to leverage any blockchain network for a specific use case while also retaining their existing operational systems.
We use customizable smart contracts to connect traditional systems that are typically not compatible. These smart contracts, which can be integrated on separate blockchains, interact with each other to automate any process. The system is flexible and can be adjusted over time to ensure a future-proof blockchain system.
With Dragonchain's interoperability technology, businesses can finally connect disparate and siloed systems and networks across their organizations by using their existing engineering resources who already know their business, their customers, and their unique business situations to deliver value to the market sooner with less risk of a failed deployment.
Whether transferring assets, harnessing specific utility, connecting traditional business systems or leveraging multiple blockchains for security, Dragonchain’s four-dimensional approach to interoperability provides the utmost flexibility and usability for businesses to leverage blockchain technology.
Enterprise Smart Contract Orchestration
Smart contracts can be used to define workflows and automate processes within an organization. These programmable contracts create a more efficiency for business operations however, they are a challenge to orchestrate. Due to the limiting file size of each smart contract, multiple smart contracts must be created to account for complex workflows. This creates a rigid environment that lacks the flexibility needed for businesses to adjust to their ever evolving needs.
Dragonchain’s patented Smart Contract Orchestration system uses RESTful architecture to easily add smart contracts to ledged steps in a workflow process. This allows businesses to add, update, or delete any step without a complete rewrite of the smart contract system. Each step is provable before and after changes are made to the smart contract workflow and brings flexibility to business operations.
Blockchain Trilemma: Solved
Creating a scalable and secure blockchain while remaining decentralized presents challenges for most blockchain platforms today. This blockchain trilemma often results in platforms sacrificing one component and focusing on the other two. When it comes to these foundational pillars, Dragonchain does not compromise on security, scalability, or decentralization as these elements are built right into the architecture.
Current blockchain implementations are unable to adequately scale to Enterprise levels and often rely on expensive specialized hardware which becomes prohibitively expensive as the business grows. These systems have not yet been able to meet the necessary transaction volume seen in global businesses today. Additionally, these platforms are often met with network congestion and increased fees as other businesses use the platform.
Whether it’s from obsolete technology, an increased volume of transactions on the network, or growth within the business platforms that scale with hardware will have to be replaced. This is such an issue that in 2019, Gartner predicted that 90% of the current Enterprise blockchain platforms in operation at the time will require replacement by 2021. It’s 2022 and most blockchain platforms in use today still scale through hardware.
Dragonchain’s Scalable Architecture
Dragonchain takes a unique approach to scalability. We use our patented architecture to scale horizontally as well as vertically. Every business blockchain independently interacts with Dragonchain’s verification platform, Dragon Net. Dragon Net is a network of decentralized independent blockchains each used to verify and validate every business transaction through five levels of consensus known as Context-Based Verification.
Dragonchain’s Economic Scalability
To economically scale blockchain networks against fee volatility, Dragonchain applies a scarcity model based on the passage of time. TIME is staked against a business node to configure and lock a deterministic fee level for every business transaction to ensure that the business is independent of other networks on the platform and will not see any increase in network fees or congestion from other businesses.
For user’s who operate verification nodes, TIME also determines how much of the transaction fees from every business transaction block are awarded to all competing verification nodes.
We demonstrated the system’s infinite scalability in January 2020 when we held a 24-hour live demonstration in which a quarter of a billion (250 million+) transactions were executed fully on an operational network. The demonstration was of a single business system, and any user could scale this further, by running multiple systems simultaneously.
Dragonchain scales the deployment of Enterprise blockchain solutions by leveraging its patented interoperability technology. Interchain is drawn from the same models used for the operation of the Internet, RESTful architectural pattern, and Linux/Unix systems. Our architecture allows businesses to deploy to Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform (GCP), and any standards based cloud platform. We offer businesses an environment where their existing developers can flexibly deploy and scale smart contracts and blockchain-based systems using resources and tools with which they are already familiar (e.g. Linux, Docker, etc). This gives businesses more flexibility and control in the implementation and deployment of blockchain systems.
Hybrid Blockchain Architecture for Security and Proof
Businesses need functional systems that put security first. Protection of business data is and always has been a primary objective for the Dragonchain platform. Because of that objective, we can confidently say Dragonchain is the most secure platform on Earth.
Dragonchain uses a hybrid blockchain architecture to leverage private blockchains for privacy and multiple public chains for measurable security and transparency. Businesses can secure their private and proprietary data on their own private blockchain and send only the proof of the transaction for decentralized verification. This architecture allows businesses to selectively segregate data to reduce the risks associated with data breaches.
An important side note. Unlike other blockchain platforms, this architectural approach to data segregation allows businesses to maintain GDPR and CCPA regulations and safeguards sensitive data such as personal identifiable information (PII).
Dragonchain is exponentially more resilient to a 51% attack than a single blockchain alone. To affect the information in just one transaction, a nefarious actor would have to breach the business’s blockchain, over 1,200 blockchains on Dragonchain’s consensus network Dragon Net, and every integrated public Interchain (currently Bitcoin, Ethereum, Binance Smart Chain).
Quantum Encryption Integration
Dragonchain offers quantum-safe encryption and signing capabilities integrated at the core of our hybrid blockchain architecture. With our quantum encryption capabilities, businesses can ensure that their data is secured at rest on their private blockchain, when being validated on public blockchains, and when shared with partners.
Dragonchain’s Decentralized Blockchain Platform
Dragonchain takes a hybrid approach to decentralization. As mentioned earlier, each business leveraging the Dragonchain platform integrates its own private blockchain. This blockchain is centralized to the business and can be configured to the business’s process and goals. The private business blockchain is necessary to mitigate the risk of sensitive business data being distributed across an uncontrollable decentralized network. With Dragonchain, a business can decide whether and where decentralization is valuable to their system.
Decentralized verification is still crucial for a robust blockchain system. For that reason, the architecture allows the business to selectively choose what information to send for decentralized verification. Dragon Net, Dragonchain’s network of independent distributed decentralized verification blockchains validates proof of every business transaction and is secured by every public blockchain network connected via Interchain (e.g. Bitcoin, Ethereum, and Binance Smart Chain). Businesses can reference this measurable proof for each and every transaction without releasing private or proprietary information.
Tokenization and Enterprise NFTs
Dragonchain offers businesses the ability to use customizable tokens that can transfer assets with more security, faster settlement times, and decreased costs. These programmable tokens can be internal or external and can be mapped to a standard legal agreement through smart contracts.
Businesses looking into Non Fungible Tokens (NFTs) but are concerned about high fees can leverage Dragochain’s scalable Enterprise NFT (ENFT) model. Every business can create any number of unique ENFTs to motivate the behavior of their employees, partners, and customers to follow a process such as being regulatory compliant, submitting KYC, or reducing their carbon footprint. Businesses can also use these ENFTs for access control and to track events along a supply chain for full data integrity.
Through Den.social, Dragonchain has minted more than 160 million NFTs since January of 2021. Even with this scale, these NFTs are interoperable with any public blockchain and offer a real bridge to Web3 integration for traditional businesses.
Provably Fair Technology
Businesses or organizations that conduct contests and giveaways can leverage Dragonchain’s provably fair technology for transparency and fairness. The system uses the future block hash of Bitcoin and Ethereum to determine a winner in a contest.
The provably fair technology can also be applied to gaming and esports to provide proof that the game or event is fair. We can use the technology to map future gameplay, track character traits and performance as well as prove, in real-time, gameplay and events in a transparent and auditable way.
To minimize the liability of holding sensitive data and ensure privacy capabilities related to GDPR/CCPA are maintained, businesses should use a decentralized identity system. Dragonchain’s decentralized identity solution, Factor, allows for verifiable and measurable proof that a user is not a bot and is in fact the person they claim.
Factor helps businesses protect the identity of their customers and their employees by separating identifying information into individual components called factors. (e.g. first name, last name, physical address, Social Security Number (SSN), birth date, etc.)
Once these factors are verified, proof of each factor can be distributed to interested parties without exposing the actual data. This mitigates the risk of repeatedly collecting and validating identifying information during the Know Your Customer (KYC) process.
Factor technology is also used to prove the identity of Internet of Things (IoT) smart devices. Systems accessed by IoT devices can verify and authenticate that the IoT device is as expected and has not been altered. This security measure will ensure that the systems the IoT device accesses are protected and shielded from nefarious actors.
Artificial Intelligence and Machine Learning Capabilities
Dragonchain’s patented interoperability technology can combine blockchain and smart contracts with advanced artificial intelligence (AI) and machine learning (ML) algorithms to produce powerful results.
AI/ML training data can be stored on the blockchain for measurable proof while also providing automated reproduction of results. This can reduce or eliminate liability in the application of AI/LM for high-risk use cases such as healthcare or safety applications of AI/ML technology.
Supply Chain Applications
Dragonchain’s robust Line-of-Sight supply chain capabilities can be combined with AI/ML to analyze vast amounts of data, understand relationships, provide visibility into operations, and support better decision making.
Dragonchain’s unique scalable architecture makes it possible to capture all AL/ML actions on-chain even if said action seemed unimportant at the time. Businesses can look back at previous AI/ML actions and independently prove their true state at any time in the past. This enables the ability to provide a deep analysis of the complete historical system state with extreme confidence, as well as provide pathways to improve AI/ML training itself.
Dragonchain combines AI/ML driven health applications with blockchain to analyze data from fitness devices, genome data, medical data, etc for better Health and Wellness recommendations and outcomes in a provably ethical manner.
AI/ML powered blockchains can also provide a smart second opinion, wherein prescribed medications or procedures could be validated by the smart contract with a full on-chain knowledge base. Dragonchain’s proof system can be used to distribute results to multiple healthcare professionals without releasing excessive personally identifiable information.
AI/ML Personalization Behavior System
Unique to Dragonchain is the ability to combine our patented behavior mapping system with AI/ML to create a powerful personalization platform. This platform can be used to incentivize the behavior of users to follow a process to improve outcomes for them as well as gain valuable feedback for platform analytics.
The technology can even incentivize AI/ML to take specific actions. In a process similar to incentivizing human behavior, AI/ML can be programmed to compete in a defined process and then rewarded when it completes that process in the fastest most accurate way possible. The end result is a more efficient and accurate AI/ML powered system.
Dragonchain offers an enhanced blockchain as a service platform for businesses to adopt any emerging technology while leveraging multiple public blockchains for measurable proof and security. Our solutions support multiple clouds and multiple protocols and services for applications. Contact us today to learn more!