Would This Be Correct?

I have a self hosted wordpress site. I saw another post about this topic but I didn't understand it. I don't want to replace Wordpress or my site. I do want to install Dolphin 7 because I want the community and video chat capabilities. Would I then install Dolphin 7 into a sub folder instead of my domain's root folder? Any reason why that wouldn't work? Because obviously I don't want to rewrite over my wordpress files. lol Thank you:)

Yes, you can install it in a sub folder

THANK you so much!