MultiChain – Private multicurrency blockchain platform
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Multichain is a private blockchain platform aimed at enterprises, offering controlled permission management and native asset support, addressing challenges seen in traditional blockchain systems like anonymous miners and governance issues. It enables a shared database with designated 'miners', focusing on internal R&D applications, while supporting features like increased transaction capacity and privacy. The roadmap includes an alpha release, with plans for a beta in 2016 and a premium version to enhance performance and security.
MultiChain – Private multicurrency blockchain platform
- 1. MultiChain Private Blockchain Platform Coin Sciences Ltd http://www.multichain.com/
- 2. Banking on Bitcoin 2.0? • Low capacity • Poor governance • Unknown costs • Anonymous miners • All activity public • No AML/KYC • One bloated ledger • Poor asset support
- 3. So what do enterprises want? • Private shared database • Control of capacity + cost • Designated “miners” • No cryptocurrency • Collective admin • Hide the details • Blockchain as tool not ideology
- 4. Introducing MultiChain • Off-the-shelf private blockchains ü Easy to configure and deploy • Permission management ü Private and tightly controlled • Native asset support ü Tracked at network level • Target: internal/intercompany R&D • Bitcoin-compatible protocol + APIs
- 5. Key blockchain parameters • Block time e.g. 10 seconds • Maximum block size – Transactions per second • Transaction metadata – Current limit: 8 MB • Permissions model – e.g. can anyone connect? • Role (if any) for native currency
- 6. MultiChain permissions • Admin / Activate – Control others’ permissions • Connect to network • Create asset • Send transaction • Receive transaction • Confirm transactions (“mine”) • Permissions enforced in blockchain
- 7. “Mining” in MultiChain • All blocks signed by miner • Only permitted miners ü No impersonation attacks • Mining diversity constraint ü Proof of work not required
- 8. What are blockchains for? • Old problem: – Shared database (or ledger) – Multiple writers – Limited trust • Old solution: – Intermediary as gatekeeper • New possibility: – Use a private blockchain
- 9. Signed by Bob Signed by Alice Alice £10 Bob $15 Alice $15 Bob £10 Example: Exchange transactions Delivery versus payment enforced at data layer
- 10. MultiChain roadmap • Version 1.0 alpha available now – Parameters, permissions, assets • Beta/release during 2016 – Two key features to come – Extensive automated testing • To follow: Premium version – Improved performance and logging – Stronger security and encryption – Database integration for analytics
- 11. Questions? Visit www.multichain.com for: MultiChain download Getting started guide Developer docs and forum White paper (not just for techies!)