DRAC Network is a public chain independently developed based on Ethereum, We evolved from Teddy Doge launched in the UAE in 2020. People-oriented, decentralization, autonomy, equal rights, and unique blockchain identity are our tenets. Before quantum computing and more efficient transmission are popularized, how to solve decentralization and equality? That's exactly what we do.
DRAC Network is a public chain developed based on Ethereum. Since February 20, 2020, we have launched our public chain development plan. We pursue the concept of complete decentralized community governance and equality among members. Before quantum computing and more efficient dissemination, we will work towards decentralization and equality of power.
The next-generation Internet scene brought by the blockchain makes people imagine that the blockchain technology may bring earth-shaking changes to human beings just like the Internet technology decades ago. We believe that the prosperity of an Internet created by several Internet oligarchs will breed the prosperity of a fair, just and open blockchain Internet constructed with extensive user participation in the next era.
As for how long the blockchain will truly become popular, all parties have different guesses and predictions, ranging from one or two years to ten or twenty years. No one can predict the exact time, but at least for now, the future Opportunities still need to wait for the further maturity of the technology and the establishment of the infrastructure. That is to say, from a single effective solution to the formation of a local privatized network to connect multiple organizations, and finally to realize a new system of cross-regional and cross-subject.
The entire development path can be divided into several levels:
First of all, at the technical level, of course, the most fundamental and important advantage lies in the breakthrough of core technology. At present, the entire blockchain industry is still in a state of immature technology, including the underlying technology and the public chain. But from another point of view, the competitive advantage and future foundation are also contained in the core technologies such as distributed data storage, point-to-point transmission, encryption algorithm, smart contract, consensus algorithm and so on.
Moreover, according to the characteristics of practical applications, different technical directions will also be differentiated, and targeted development combined with the characteristics is equivalent to grasping the key to the core technology. For example, the governance mechanism of blockchain technology is closely related to the distributed results of the blockchain itself and the technical characteristics of decentralization. To achieve effective governance, it is necessary to return to the technology itself to find the answer. In addition, there is also how to find the balance point of maximizing value among efficiency, security and trust, and there will be different solutions in different application scenarios.
In terms of scenarios, the clues can already be seen from the industries where the blockchain has not taken the lead. At present, the most important application of blockchain technology is in cryptocurrencies, and the second most important application scenario is the financial field. But at present, there are still many imperfections, and a particularly successful case has not yet been formed.
DRAC-Network is open-source technology that is collectively developed by a large community of developers, researchers, and users who share the goal of building DRAC-Network into a public good for the benefit of the entire blockchain ecosystem.