Disney has made open source its Dragonchain blockchain. Dragonchain is being touted as a public/private blockchain by the corporation famous for animated cartoon characters such as Mickey Mouse, Donald Duck and Pluto. Disney and Blockchain may sound like an odd mix but as a company Disney has always been at the forefront of utilising technology. At the company’s Disney World resorts, they already use MagicBands that help customers enter theme parks, unlock hotel doors and purchase consumable items and merchandise. In a world where the newer generation is increasingly transfixed by technological distractions like mobile phones and video games, keeping up to date matters. This is not Disney’s first toying with Blockchain. In fact Disney conducted a Blockchain marriage at the Disney World Bitcoin Conference way back in 2014. We have also covered the news of Disney looking for Blockchain talent in recent times. What is Dragonchain? Dragonchain was released to the public on October 2, 2016 with a modified Apache 2 open source license. The purpose of the Blockchain is to help businesses track and trade anything of value without requiring a central point of control. Basically Dragonchain is yet another Blockchain which helps maintain records and processes transactions. This is similar to what Bitcoin is based on, but a bit different as well. In a document released that details the architecture of Dragonchain, Disney says, “In Bitcoin and most other cryptocurrencies, we witness the use of “Proof of Work” (PoW) algorithms as a basis for consensus in a “trustless” system. In this architecture, “proof” will be abstracted and may be implemented in one or more ways for a given Blockchain. For some uses, one may desire to use a trust based system, for instance, in a fully private Blockchain system. One may also find value in a […]
