Blockchain solutions were able to offer encryption, immutability, and some distribution in its early days. We saw more features being added over time, including tokenization and interoperability. There has also been a rise in Decentralized Autonomous Organisations (DAOs) in recent years.
The next generation of blockchain solutions is here and it has brought with it advances in parallel technologies like artificial intelligence (AI), IoT (Internet of Things) and decentralized identity solutions. These technologies will be intertwined over the next decade to provide enhanced blockchain solutions for businesses that offer more security, data integrity, precise analytics, and provable fact.
These enhanced Blockchain as a Service features can still be built by many other platforms. Dragonchain however, has offered several enhanced blockchain solutions over the years. Our enhanced Blockchain as a Service platform is able to interop with any traditional business system and/or blockchain to provide a greater value for businesses beyond just dollars and cents. Let’s take a look at some of Dragonchain’s enhanced Blockchain-as-a-Service capabilities.
Most blockchain service providers still struggle to create interoperable business systems. Most blockchain networks and traditional business systems cannot connect, and those that can are often difficult to use for end-users are restrictive. Interoperability protocols tend to focus on asset or token transfers. These protocols are too narrow to address the most real-world problems facing businesses today.
Dragonchain’s patent interoperability technology is focused on connecting all systems to a single blockchain. Interchain on Dragonchain allows businesses to use any blockchain network in a specific application case, while retaining their operational systems.
To connect systems that are not normally compatible, we use customized smart contracts. These smart contract can be integrated onto separate blockchains and interacted with each other to automate any task. This system is flexible and easily adaptable to make sure a future-proof system.
Dragonchain’s interoperability tech allows businesses to connect siloed and disconnected systems and networks within their organization. This is possible by using existing engineering resources that already know their customers and business to provide value to the market faster and with less risk.
Dragonchain’s four-dimensional approach provides maximum flexibility and useability to businesses looking to leverage blockchain technology.
Enterprise Smart Contract Orchestration
Smart contracts are used to automate and define workflows within organizations. Although these programmable contracts provide greater efficiency in business operations, they can be difficult to manage. Multiple smart contracts are required to accommodate complex workflows due to the small file size of smart contracts. This rigidity makes it difficult for businesses to adapt to changing business needs.
Dragonchain’s patent Smart Contract Orchestration software uses RESTful architecture to add smart contracts to ledged tasks in a workflow process. Businesses can add, modify, or delete any step in a smart contract system without having to rewrite it. The smart contract workflow allows for each step to be shown before and after any changes are made. This gives businesses flexibility and allows them to add, update or delete steps as needed.
Blockchain Trilemma Solved
Most blockchain platforms face challenges in creating a secure and scalable blockchain that is decentralized. This blockchain dilemma can lead to platforms having to sacrifice one component in order for the platform’s focus on the two others. Dragonchain is a foundational pillar that does not compromise security, scalability or decentralization. These elements are integrated into the architecture.
Blockchain implementations currently in use are not able to scale up to Enterprise level and often require expensive hardware that becomes prohibitively costly as the business grows. These systems are not capable of handling the volume of transactions required by global businesses. These platforms often face network congestion and higher fees when other businesses use them.
It doesn’t matter if it’s obsolete technology, increased transactions on the network or growth within business platforms that scale with hardware, this will need to be replaced. This is so important that Gartner predicted in 2019 that 90% of Enterprise blockchain platforms currently in use will need to be replaced by 2021. It’s 2022, and most of the blockchain platforms that are in use today still scale via hardware.
Dragonchain’s Scalable architecture
Dragonchain has a unique approach for scaling. Our patented architecture allows us to scale vertically and horizontally. Each business blockchain interacts independently with Dragonchain’s verification platform Dragon Net. Dragon Net is a network made up of independent, decentralized blockchains that verify and validate each business transaction using five levels of consensus called Context-Based Verification.
Dragonchain’s Economic Scalability
Dragonchain uses a scarcity model that is based on time to economically scale blockchain networks and avoid fee volatility. TIME is used to stake a business node. This allows it to set and lock a fixed fee for each business transaction. This ensures that the business is not dependent on other networks and does not experience congestion or increase in fees.
TIME determines the amount of transaction fees that are paid to each business transaction block by users who run verification nodes.
In January 2020, we demonstrated the system’s infinite scaling ability by holding a 24 hour live demonstration where a quarter of billion transactions (250 million+), were completed entirely on an operational network. This demonstration was for a single business system. However, any user can scale it further by running multiple systems simultaneously.
Dragonchain’s patented interoperability technology allows for the rapid deployment of Enterprise Blockchain solutions. Interchain draws its inspiration from the same models that are used to operate the Internet, RESTful architecture pattern and Linux/Unix system. Businesses can deploy to Amazon Web Services, Microsoft Azure, Google Cloud Platform and other standards-based cloud platforms using our architecture. Our environment allows businesses to have their developers deploy smart contracts and other blockchain-based systems quickly and easily using tools and resources they already know (e.g. Linux, Docker, etc). This allows businesses to have more control over the deployment and implementation of blockchain systems.
Hybrid Blockchain Architecture to Secure and Prove Your Identity
Functional systems must be designed to ensure security for businesses. Dragonchain’s primary goal is to protect business data. Dragonchain can be confidently said to be the most secure platform in the world.
Dragonchain employs a hybrid blockchain architecture that combines private blockchains to protect privacy with multiple public chains to provide transparency and measurable security. Businesses can protect their proprietary and private data using their own private blockchains and only send the proof of transaction for decentralized verification. This architecture allows businesses the ability to segregate data in order to minimize data breaches.
An important side note. This architectural approach to data separation allows businesses to keep GDPR and CCPA regulations in place. It also protects sensitive data like personal identifiable information (PII) unlike other blockchain platforms.
Dragonchain is more resilient than any single blockchain to a 51% attack. A nefarious actor must hack the entire business’s blockchain and all 1,200 blockchains on Dragonnet’s consensus network Dragon Net.
Quantum Encryption Integration
Dragonchain’s hybrid blockchain architecture integrates quantum-safe encryption, signing and cryptography capabilities. Businesses can use our quantum encryption capabilities to ensure their data is secure at rest on their private Blockchain, as well as when it is validated on public Blockchains and shared with partners.
Dragonchain’s Decentralized Blockchain Platform
Dragonchain uses a hybrid approach for decentralization. Each business that uses the Dragonchain platform has its own private blockchain. This private blockchain can be customized to meet the business’s needs and objectives. To reduce the risk of sensitive business information being distributed over an uncontrollable, decentralized network, the private blockchain for businesses is essential. Dragonchain allows businesses to decide if and where decentralization makes sense for their business.
A robust blockchain system will still require decentralized verification. The architecture allows businesses to choose which information they want to send to decentralized verification. Dragon Net, Dragonchain’s network of independent distributed verification blockchains that validate every business transaction, is protected by all public blockchain networks connected via Interchain (e.g. Bitcoin, Ethereum, Binance Smart Chain. This measurable proof can be used by businesses to verify each transaction, without having to release any proprietary or private information.
Enterprise NFTs and tokenization
Dragonchain allows businesses to use customized tokens that allow them to transfer assets faster, with greater security and lower costs. These tokens, which can be either internal or exterior, can be linked to standard legal agreements through smart contracts.
Dragochain’s scalable Enterprise FFT (ENFT), model is a great option for businesses looking to explore Non Fungible Tokens. To motivate their partners and employees to comply with regulations, submit KYC or reduce their carbon footprint, any business can create a number of unique ENFTs. These ENFTs can be used by businesses to control access and track events in a supply chains to ensure data integrity.
Dragonchain has created more than 160 million NFTs through Den.social since January 2021. These NFTs can be interoperable with any other public blockchain, and provide a bridge to Web3 integration for businesses with traditional business models.
Technology that is proven to be fair
Dragonchain’s proven fair technology can be used by businesses and organizations who conduct giveaways or contests. To determine the winner of a contest, the system uses the future block haveh of Bitcoin or Ethereum.
Provably fair technology can be used to prove fair gaming or esports. The technology can be used to track and map character traits, performance, and also prove gameplay and events in real time.
Businesses should implement a decentralized identity system to minimize liability for holding sensitive data. Dragonchain’s decentralized identity system, Factor allows businesses to prove that users are not bots and can be verified and measured as to their authenticity.
Factor is a tool that helps businesses protect their customers’ identities by breaking down identifying information into components called factors. (e.g. First name, last name and physical address. Social Security Number (SSN), birthdate, etc.
After these factors have been verified, the proof can be distributed to interested parties. The actual data will not need to be revealed. This reduces the chance of having to collect and validate identifying information repeatedly during the Know Your Customer (KYC), process.
To verify the identity of Internet of Things smart devices (IoT), factor technology can also be used. IoT devices can access systems to verify that they are authentic and have not been altered. This security measure will ensure the IoT device’s access to systems is protected from malicious actors.
Artificial Intelligence and Machine Learning Capabilities
Dragonchain’s interoperability technology, which is patented by Dragonchain, can combine blockchain and smart contract with advanced artificial intelligence (AI), and machine learning (ML), to achieve powerful results.
The blockchain can store AI/ML training data for measurable proof and automated reproduction of results. This will reduce or eliminate liability when AI/LM is applied in high-risk cases like healthcare and safety.
Supply Chain Applications
Dragonchain’s strong Line-of-Sight supply chains capabilities can be combined AI/ML to help analyze large amounts of data, understand relationships and provide visibility into operations. This will support better decision-making.
Dragonchain’s unique, scalable architecture allows it to capture any AL/ML action on-chain, even if that action seems insignificant at the time. Businesses can easily look back at past AI/ML actions to prove their true status at any point in the past. This allows for a detailed analysis of the entire historical system with great confidence and also provides pathways to improve AI/ML-training.
Dragonchain combines AI/ML-driven health applications with blockchain to analyze fitness data and medical data for better Health and Wellness recommendations and outcomes.
Smart second opinions can be provided by AI/ML-powered blockchains. Prescriptions or procedures can be validated using a smart contract that has a complete on-chain knowledge. Dragonchain’s proof system allows for multiple healthcare professionals to receive results without having to release personal information.
AI/ML Personalization Behavior System
Dragonchain’s unique ability to combine our patented behaviour mapping system with AI/ML is what makes it stand out. This platform can be used for incentivizing users to follow a process that improves their outcomes and also to gain valuable feedback to help with platform analytics.
AI/ML can be incentivised to take certain actions by technology. AI/ML can be programmed in a way similar to human behavior to encourage them to take specific actions. Then it is rewarded for completing the process in the most efficient and accurate manner. This results in a more efficient and precise AI/ML-powered system.