SecureWorld News

Why is Disney Creating a New Blockchain Platform?

Written by SecureWorld News Team | Fri | Oct 28, 2016 | 7:00 AM Z

Disney put together a new blockchain platform with an open source license.

ZD Net Explains:

Disney recently released a platform called Dragonchain, described in an announcement as "a distributed crypto ledger framework protocol that makes it easy to create cost-efficient business networks where virtually anything of value can be tracked and traded--without requiring a central point of control." The platform is provided with a modified Apache 2 open source license. A small team at Disney developed the blockchain platform internally in 2016.

The Dragonchain release notes that blockchain "will make all kinds of transactions transparent, more reliable, and easier to audit without centralized processing," providing "support for a smart contract language within a hybrid permissioned and public ledger network using a unique consensus algorithm with context based verification."

Bitcoin.com's Jamie Redman provides some deeper observations on the Dragonchain platform, noting that "the framework is similar to many blockchain prototypes with features such as timestamping, block ID, hashing prior blocks, PoW/ PoS capabilities, and digital signatures." For its part, Dragonchain "gives various definitions for business verification, enterprise validation, network diversity, notarization, and public and proprietary checkpoints."