Review on Dragonchain by Robiul Islam
Some “investors” develop emotional attachments to their cryptocurrencies…
Some “investors” develop emotional attachments to their cryptocurrencies, making them blind, ultra-enthusiastic fanboys. They treat their cryptocurrency like their favorite sports team. It’s weird. DragonChain is no different, and may even be worse than most because people love Disney and seem to think Disney is still a part of DragonChain (it’s not).
We look at DragonChain and the DRGN token as an investment. We don’t get emotionally attached to a particular dollar bill, bar of gold, stock pick, or cryptocurrency. There is not a lot to look at when it comes to fundamental analysis of a crypto, but we can evaluate DragonChain’s performance up to now, and we have lost our confidence in the company. Again, this is not about the price of the DRGN token, but about the performance of the DragonChain company. If we had faith in the performance and execution of DragonChain, we would just tuck away our DRGN tokens and check their value a year from now. But since we don’t have confidence in the company, we don’t like holding the token.
Since we are not day traders and rely more on fundamentals, we plan on selling our DRGN tokens in the near future, depending on price action, and move on. We do believe DRGN is oversold at this moment, and will probably increase (but who knows) in the coming days as the hype machine builds up MetropolisChain and this 3 day old company’s ICO. Expect tweets and other stuff to come out from DragonChain. DragonChain may or may not be a scam. Their ICO incubator projects may or may not be scams. As we’ve said, time will tell. However, we are choosing to move on; we believe there is too much risk and incompetence here, and believe there are better projects we can move our funds to. Yes, we may lose some money on our DragonChain investment, but that’s ok. This is what’s important to consider for us as an investors – all things being equal, at this point in time, do we want our money in DRGN which has under-performed compared to most other alts, or put those funds to work in NEO, ETH, WTC, WAVES, etc etc… (tax implications aside).
Updated 5 years ago
Rating has not been changed
Dragon Den further expanded the beta and had major updates in both the frontend and backend. Extended account services have been released. Approximately 4MM transactions in May were part of a production load test of 1MM transactions per day.
Dragonchain Release v 3.x
, Updated webclient to use node.js SDK
, Updated library contracts for new SDK versions
, Smart Contract callback feature. Get a HTTP callback when your contract is done.
Updated chains to be keyed by Dragon Net public key, similar to public network addressing.
Pros
- We are not calling DragonChain a scam at this time (although they could be, time will tell), but we will not label them as totally legit either. There are certainly some shady, reckless, or incompetent aspects to the way the company conducts their business, and we will point those out below. The goal of this review is NOT to spread FUD (Fear, Uncertainty, Doubt), but to spread FACTS as we’ve seen them, to spread the truth, and to let you make an informed decision. This article is not about the price of DRGN, but the actions of DragonChain. This article is not a scam, there is no conspiracy theory, we are not whales trying to manipulate prices, we are not a pump and dump group. We are DRGN investors and crytpo-enthusiasts and we feel let down by the DragonChain team. It’s as simple as that. Take off the tinfoil hat. Everyone in crypto thinks there’s some conspiracy or ulterior motive with everything they read related to a crypto. This is a research paper and our opinion. My opinion is that we have lost confidence in the DragonChain team at this time, we do not have any faith in the ICO’s they are currently launching, and therefore we do not trust their DRGN token as a solid crypto investment.
Cons
- The DRGN token is an ERC20 token on the Ethereum network. DragonChain uses the Ethereum network for its token out of convenience. DragonChain plans to have its own blockchain at some point and can interface with multiple blockchains. The DRGN token provides owners with member benefits, the most beneficial being the Dragon Slumber Score. Now that we’ve covered some of the basics, we believe the DragonChain Incubator business is NOT well managed, and you should be VERY concerned if your an investor in DragonChain (or DRGN holder). We have lost faith in DragonChain and have no confidence in the ICO’s and incubator projects they are managing.
