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Frequently Asked Questions

Table of Contents



Token Info

-----BEGIN BITCOIN SIGNED MESSAGE-----
Token Contract Address:  0x419c4db4b9e25d6db2ad9691ccb832c8d9fda05e
Symbol: DRGN
Decimals: 18
-----BEGIN ADDRESS-----
1DRA8KjFPZ62XdEGSmFEneRj8UqVVCAEnL
-----BEGIN SIGNATURE-----
H83Nf3Dn/SLleagPIi0FwQx6xC+vgFGafTxk81J5MJpYSCHqsDDKaKZlnsjtMCs8gF0qCR0fLauKtoudw1uvKC4=
-----END BITCOIN SIGNED MESSAGE-----

dragonchain.eth resolves to the Dragonchain Token Contract Address: 0x419c4db4b9e25d6db2ad9691ccb832c8d9fda05e

History + Disney

What is the relationship or association between Disney and Dragonchain?

Dragonchain was originally developed at Disney’s Seattle office in 2015 and 2016 as the Disney Private Blockchain Platform. Over 20 use cases and applications were explored and documented publicly via the W3C Blockchain Community Group. The platform was later released as open source software under the Apache 2 license in October of 2016.

The Dragonchain Foundation, a Non-Profit Corporation was created in January of 2017 to maintain ownership and responsibility of the open source code.

The Dragonchain team is now in the process of launching a commercial entity to build a serverless architecture blockchain platform. The combination of serverless and blockchain technologies is unique and tremendously valuable. The timing of the Dragonchain platform launch is highly strategic to benefit from explosive growth of cloud computing over the last few years and the emerging wave of Blockchain solutions entering proof of concept stage across enterprises.

See the Use Cases page for information made available from Disney to the W3C Blockchain Community Group in June of 2016.

Dragonchain is also currently listed on the official Disney Open Source site as a featured project (see below graphic).



Token Sale

What is the price for one Dragon?

Also: How much ETH per Dragon?

The price of a Dragon will be set by the market over the period of the sale. Participants will receive Dragons equal in value to the BTC or ETH contributed.

Basically direct conversion from Bitcoin or Ethereum to Dragons at the fairest price possible.

Market price for Dragons will be determined at close of sale based upon total amount raised (against fixed supply available in public sale [55% of total supply] = 238,421,940 Dragons]).

How does the market set the price? Please give an example.

  • Let’s say you put in 1 BTC.
  • Total raise is 10 BTC.
  • You get 10% of all dragons in public sale pool.

If contributing ETH, we convert to BTC based upon Bittrex hourly closing price of ETH/BTC at the time of contribution, and use that value in the calculation.

We do NOT consider USD price in the calculation.

What value will a Dragon have?

Dragons are modeled to reflect the value of Dragonchain fundamentals (i.e. platform + incubator + ecosystem) and we expect that value to increase as the ecosystem matures.

We have announced a powerful and valuable Board of Advisors and incubated projects to reflect that.

Do you have any contacts with amazon and google for implementing your services

Our architecture is a hybrid blockchain with levels of trust.

The base level where business logic lives is trusted and therefore allows running an independent blockchain.

This also allows us to host on a serverless or microservices cloud platform.

Our first integration will be on Amazon AWS, and we expect to follow with Google and other platforms.

Why aren’t my Dragons showing up in my wallet?

Also: When will Dragons be distributed?

Dragons will be distributed after the public sale is completed + enough time to complete at least one internal and independent external audit.

What are the wallet settings for DRGN / Dragons?

These details will be published before the distribution of Dragons.

What is the main Ethereum address?

The main Ethereum address is 0x8bA7408497883d3a569066FA3a331aa892138868

There are alternate ETH addresses used for marketing tracking and strategic referrals. They will all have signed messages available on the page below the QR code. You should verify the address before you send any ETH contribution.

Do not trust any address not signed by the BTC address: 1DRA8KjFPZ62XdEGSmFEneRj8UqVVCAEnL

See signature block below…

-----BEGIN BITCOIN SIGNED MESSAGE-----
This is an official URL and address from Dragonchain
https://dragonchain.com/tokensale
ETH 0x8bA7408497883d3a569066FA3a331aa892138868
-----BEGIN SIGNATURE-----
1DRA8KjFPZ62XdEGSmFEneRj8UqVVCAEnL
IPtQF/SjWlVe6emApKPHvFts809uv9XH06wAKAUL/n3TIdJsBeNPmAIRDfoUM63EWh9aiCADdcypBxM1jp05e2w=
-----END BITCOIN SIGNED MESSAGE-----

To verify the signature: https://tools.bitcoin.com/verify-message/

Demonstration video verifying the message: https://www.youtube.com/watch?v=OHUajNgvZt4

How much Gas should I use to send my ETH contribution? (Ethereum)

We are collecting contributions at an Ethereum address, not a smart contract.

You should generally use the default Gas value that you wallet provides (e.g. myetherwallet).

Was there a Dragon presale?

There was a very limited presale in August 2017 with a strategic partner network. It raised approximately $1.4MM USD (152.25 BTC & 2357.53 ETH) in the course of a week for use in marketing and development.

This was a strategic relationship with a closed group of crypto analysts and investors to provide ongoing feedback and support for the project and communications. This was a very early relationship and it was remarkably effective in preparing for the ICO. As such there was a 30% discount provided (25% to individuals and 5% to the group) which will be distributed out of non-public pools.

We’ve modeled the sale to incentivize holding Dragons in general with no discounts and with Dragon utility. The presale occurred before we had the complete model in place and was in fact helpful in determining the final model. The presale participants and participants in the public sale are incentivized to hold Dragons as they will provide early access to incubated projects and utility token sales for the owner.

When is the public token sale/ICO?

The public sale of Dragons is live -

It began on October 2, 2017 at 8:00 AM US PDT (UTC-7), and will end on November 02, 2017 at 5:00 PM US PDT (UTC-7).

Please watch the token sale page for further information.

Is the sale open to US Citizens?

YES. The Dragon token is a tokenized micro-license (PATENT PENDING) for interaction with the Dragonchain commercial platform and related services. The token captures legal guidance regarding US Securities Law.

US based sale + US purchase allowed.

Are contributions accepted from non-us citizens?

YES, contributions are accepted from non US citizens.

YES, contributions are accepted from US citizens.

YES, contributions are accepted from anyone.

All humans are welcome!


Is there a whitelist?

Also: Is there a KYC process?

There is no whitelist - anyone can join.

There is no KYC process or pre-registration to participate.

How are you planning to stop big whales from buying and dumping coins when DRGN comes out?

If you receive no discount and put in say 1000 BTC - you will receive 1000 BTC worth of Dragons - what would make you dump?

If everyone else received proportional shares in the same manner, what would cause them to dump? The risk of dumping is in the team distribution where they have not put in money - which is why we are distributing team & partner tokens slowly over 2 years.

For a good explanation and an exploration of ICO modeling and how Dragonchain compares, read our latest mention in VentureBeat: What Vitalik Buterin’s new ICO proposal gets wrong.

Is there a cap for the token sale?

There is a fixed supply of 433,494,437 Dragons. There is no cap on contributions and Dragons will be distributed proportionally based upon Bitcoin value contributed per sending address.

Is there a hard cap?

There is no hard or soft cap.

Can I send BTC or ETH directly from an exchange to participate in the ICO?

Never send from an exchange.

Send from your personal wallet where you own the private keys.

See the Token Sale Guide for more detailed information.

Why no cap on contributions?

The Dragon sale is NOT an uncapped ICO where tokens are purchased at an arbitrary price and minted as money comes in, with no way to determine how many tokens will be created or how much money raised.

We’ve capped the token count, and want the market to set the price.

How is the value of ETH determined for the distribution equation?

Dragons will be distributed proportionately based upon Bitcoin value contributed per sending address. For this measure, contributed ETH will be valued at Bittrex Exchange Hourly Closing Price for the time of contribution.

Considering how substantial this uncapped raise might be, do you happen to have an investment allocation plan for a large raise?

The platform and incubator will scale with the raise.

A large raise will allow us to expand the features and number of projects that can be incubated early.

We may also be able to more quickly support Google, MS, and other platform integrations.

Can people minie for Dragons after the sale? Will no more be created in the future?

We are planning or considering several sidechains to provide mining and other proof based security for Dragonchain and related projects, but no more Dragons will ever be created.

What is the total distribution of Dragons?

See the Token Sale document for a pretty table and diagram.

Category Percentage Dragons
Public 55% 238,421,940
Team 20% 86,698,887
Foundation 10% 43,349,444
Dragonchain Reserves 10% 43,349,444
Dragon Fund (Incubator) 5% 21,674,722



All team tokens will be locked and released over 24 months.

When will the Dragons be distributed to purchasers?

After public sale and audit.

Are you in discussions with any exchange platforms to be listed?

We are not commenting on exchange listings at this time.

With the BTC hardfork around the corner , is it best to wait to invest, as BTC may be higher now than it will be in 3 weeks?

Actually, the BTC/USD price will not be a factor -

We are doing all calculations for token distribution based upon BTC price with no consideration for USD or other fiat pricing.

1 BTC on Oct 2 = 1 BTC on Nov 2.

I accidentally sent ETH from Coinbase/Gemini/Jaxx etc..

We can’t guarantee we’ll be able to recover your Dragons if you don’t own the keys used to send the Ethereum. The more details you’re able to provide via this form the more likely we’ll be able to help.

DRGN Recovery Form

Technical

What makes Dragonchain different / better?

  1. It’s a hybrid system that lets a business (enterprise or startup) have its own chain and achieve enterprise consensus in stages all the way to one or more public blockchains (eg BTC or ETH).
  2. The architecture allows a project to control exposure of sensitive business data and smart contract logic.
  3. It doesn’t require the use of a currency (full trust at first layer).
  4. It can support multiple currencies on one chain.
  5. We have successfully demonstrated that a project can start without full knowledge of its economy and monetize activity or assets late in the process.
  6. The commercial platform utlizes serverless architecture to enable simple and powerful scaling.
  7. Developers may code smart contracts in Java, Python, Node, or C#.
  8. There will be an incubator and marketplace for new projects.
  9. Much, much more - please read the architecture document and the business summary document.

Why is Dragonchain needed, or why aren’t Bitcoin and Ethereum good enough?

We would never say that Bitcoin (especially Bitcoin) or Ethereum are “not good enough” - in fact, our architecture specifically calls to leverage the massive and unprecedented value of public blockchains (especially Bitcoin with its hash power). This may be hard to quickly explain, but we want to make integration of legacy and new systems with blockchain much easier and less risky than it currently is.

As an example, currently, if you want to build a blockchain backed system with Bitcoin, you will need to both (1) create a wholly complete internal and centralized system to maintain your customer/private data and (2) have enough knowledge of Bitcoin to integrate that system with Bitcoin tokenization or other PoE capabilities.

With Ethereum, you will also need advanced Ethereum knowledge, and though you can now use more capable smart contracts than are available in the Bitcoin ecosystem, you will have to take some risk in the unknown unknowns with the network, as well as the known risks of community forking.

At the same time, an entirely private blockchain or permissioned ledger has many weaknesses.

We consider the Dragonchain architecture to offer a spectrum of risk from simple and total internal trust, up through various verification contexts, and all the way to a public bridge to a proof of existence/checkpoint into Bitcoin (or other) public blockchain.

We’re attempting to mix a “tried and true” classical software architecture (security and scalability) with a decentralized blockchain system, with simplified integration for those without blockchain experience, whilst allowing an organization to retain complete and explicit control over its data, processing, and network without worry about the community or public network.

Is the Dragonchain code forked from another project?

The platform was built from scratch in Python at Disney.

What language does the platform use for writing smart contracts?

User may code in Java, Python, Node, or C# for smart contract development.

How are Dragons used?

Dragons are used for access to any part of the platform (eg spinning up a node, provisioning smart contracts, subscribing to data feeds, access to advanced smart contract libraries, access to incubated projects, and early/discounted access to incubated project tokens)…

So is dragonchain, in essence, making it easier/simpler for companies to utilize blockchain with existing tech/apps and then also foster growth?

Yes… And also new apps.

We take some of the learning curve and rare expertise out of the early process. And make the currency/economic modeling questions more flexible.

General

What is the difference between dragonchain or a sidechain in terms of interoperability?

Dragonchain is a platform, and can act as a sidechain with many many interop methods…For example, the system can checkpoint into Bitcoin (or one or more other blockchains), it can also allow you to wrap transactions or blocks into dragonchain transactions (experimental). Standards could also be developed for such wrapping. With the checkpoint, we will provide a way to calculate risk of counterfeit and extrapolate that risk to a dollar value.

Bitcoin (or other) public addresses can also be used as a way to interoperate with other systems and parallelize tokens between the public and private networks.

What are Dragonchain’s thoughts on Blockchain standardization?

Components proposed by Joe Roets and the Dragonchain team whilst at Disney via W3C for standardization (not necessarily up to date) - Blockchain Standardization Notes

Thoughts on blockchain vs traditional data

Blockchain is a groundbreaking technology that has proven radical value in real applications in industry over a relatively short time. In the over 25 years of my software technology career, I’ve seen no other technology platform approach such power and promise as blockchain and cryptocurrency other than the Internet itself. The combination of decentralized secure and provable state along with system currency features provides unique capabilities that when considered holistically, stand alone among competing technology. That is, it is wrong to consider blockchain vs. database or blockchain vs. caching. One needs to consider the full capability of the platform and how dissimilar applications and services may use a subset of the common platform capabilities to their benefit and interoperate in ways not possible today.






Copyright © 2017 Dragonchain, Inc.

Licensed under the Apache License, Version 2.0 (the "License");
you may not use this file except in compliance with the License.
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