Dragonchain, Originally Developed at Disney, Opens Limited Supply Initial Coin Offering ICO

dragonchain coin

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Can You Make Money From DragonChain?

It offers features such as data protection, currency agnosticism, and multi-currency support, interoperability with other blockchains, short block time, simple architecture, adoption of standards, and simplified development. DragonChain is a hybrid (public/private) blockchain ecosystem developed by the Walt Disney Company in 2014. Originally the “Disney Private Blockchain Platform,” Dragonchain was subsequently made open source in 2016 after experimenting with more than 20 applications and proving its value as a blockchain platform. Polkadot was founded by the Swiss-based Web3 Foundation as an open-source project to develop a decentralised web. Its DOT token, which aims to securely connect blockchains, gained 5% to $9.13 and is 6% up on its price a week ago. “Through this offering, the defendants allegedly raised approximately $14 million from approximately 5,000 investors worldwide, including in the United States,” the SEC wrote. The SEC says DRGN, Dragonchain’s native token, was marketed to crypto investors, touting the token’s investment value, pricing, and “listing” on trading platforms.

dragonchain coin

Non-fungible tokens are cryptographic tokens that represent something unique. Non-fungible assets are those that are not mutually interchangeable. Non-fungible tokens contain identifying information that makes them unique. Unlike Bitcoin – which has a supply of 21 million identical coins – they cannot be exchanged like for like. As a result of surging cryptocurrency prices, the startup’s hoard was worth over $50 million by December.

Rule update: UK crypto exchanges must report transactions by individuals that…

A higher score entitles individuals to bonuses on ICOs, while business owners are rewarded with discounts on smart contracts and other tech products that DragonChain rolls out in the future. The DragonChain marketplace is where companies can get support and access to subject matter experts in cryptocurrency, software development, and other topics. Solana is a blockchain built to make decentralised finance accessible on a larger scale – and capable of processing 50,000 transactions per second.

dragonchain coin

We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide. If you are unsure you should get independent advice before you apply for any product or commit to any plan. Read our expert analysis on Orca and how the token will perform in the future.

Learn how to buy Dragonchain (DRGN) in our step-by-step guide.

The SEC declared last month that nine of the cryptocurrencies listed by Coinbase were, in fact, securities. The agency is also investigating whether the cryptocurrency exchange allows Americans to trade tokens that should have been registered as securities.

  • Two former executives at the company have gone as far as to say that Roets and two other employees were directly subpoenaed by the SEC in 2019.
  • The exchanges are often targeted by hackers and generally storing coins online is not very safe.
  • Some options include MyEtherWallet, MetaMask, ethaddress, Parity, and so on.
  • The SEC says DRGN, Dragonchain’s native token, was marketed to crypto investors, touting the token’s investment value, pricing, and “listing” on trading platforms.
  • She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers.
  • Once one of crypto’s most hyped projects, ICO-era startup Dragonchain and its founder were charged today by the SEC for the sale of $16.5 million in unregistered securities.

Shortly after announcing the launch of its for-profit corporation, Dragonchain held two initial coin offerings, or ICOs. Enthusiasm around the sale was tremendous, with investors from Asia to Europe excited by Disney’s potential involvement, despite the project no longer having any affiliation with the media giant. Once one how to buy drgn of crypto’s most hyped projects, ICO-era startup Dragonchain and its founder were charged today by the SEC for the sale of $16.5 million in unregistered securities. According to the SEC, the defendants made $14 million from approximately 5,000 investors around the world through Dragonchain’s initial coin offering in 2017.

Dragonchain News

An initial coin offering is a method crypto industry companies use to raise money quickly. A company creates a new token or currency and invites people to buy it before a public release. Dragonchain is a form of digital cryptocurrency, also referred to as DRGN Coin. Use this page to follow the Dragonchain price live, cryptocurrency news, Dragonchain market cap and updates.

The agency claims the defendants raised over $16.5 million from 5,000 worldwide during Dragonchain’s initial coin offering and in the years since. The SEC is charging Dragonchain Inc, Dragonchain Foundation, The Dragon Company, and Dragonchain founder and CEO Joe Roets for allegedly selling unregistered securities. It would be simpler and more straightforward to buy Dragonchain with fiat currency like USD or EUR, rather than having to buy other cryptocurrencies first, but no exchange offers this option – at least for now. Furthermore, additional tokens were sold between 2019 and 2022 at $2.5 million.


While we are independent, we may receive compensation from our partners for featured placement of their products or services. To make the most of your DRGN, it’s worth exploring the network’s rewards system. If you have the technical know-how to run a node, you will earn additional income in the form of ‘TIME’ tokens. You earn 1 TIME for every https://www.tokenexus.com/ DRGN token you have in a non-exchange wallet per day of running a node. Those less experienced with blockchain tech can join a community-pooled node to take advantage of the rewards system. Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.

  • Seattle-based Dragonchain is an enterprise blockchain startup that grew out of a platform originally developed by the Walt Disney Co. in 2014.
  • Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world.
  • Once this happens, the receiver will see the funds in their wallet balance.
  • In comparison, assets like Bitcoin use the Proof-of-Work model to validate and secure transactions on their network, while others like Cardano and Polkadot use the PoS model.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. In case you don’t already know DragonChain is a newly launched cryptocurrency that claims to be built on the most secure & flexible serverless blockchain platform ever made. The benefit is that applications can achieve consensus in stages, from a private trusted context up to a trustless public blockchain. The public blockchain provides publicly verifiable checkpoints, even for private implementations.

Author: Milko Trajcevski

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