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What Is MultiChain Technology?
INTRODUCTION
• The MultiChain technology is a platform that helps users to establish a certain private
Blockchains that ca...
• The Blockchain‘s visibility should always be actively kept within the chosen
participants to avoid confusions.
• This wi...
• The process of hand-shaking in MultiChain occurs when the nodes in a blockchain
connect with each other.
• MultiChain ta...
• The MultiChain defines miners to an identifiable set of entities. It introduces a
criterion known as mining diversity th...
• This put the round-robin schedule in effect.
• The miners create blocks in a rotation in this schedule so as to generate...
PARAMS.DAT FILE
• In Multichain, the transaction fees and the Block incentive is null by default. However,
you can name th...
OUR CONTACT DETAILS
https://www.blockchain-council.org
training@blockchain-council.org
fb.com/blockchaincouncil
@chaincoun...
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What is MultiChain Technology?

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This is a brief on MultiChain Technology and the process of mining in this technology.

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What is MultiChain Technology?

  1. 1. What Is MultiChain Technology?
  2. 2. INTRODUCTION • The MultiChain technology is a platform that helps users to establish a certain private Blockchains that can be used by the organizations for financial transactions. • A simple API and a command-line interface are what multichain provides us. • This helps to preserve and set up the chain. Copyright© BlockchainCouncil 2
  3. 3. • The Blockchain‘s visibility should always be actively kept within the chosen participants to avoid confusions. • This will ensure stability and control over which transaction exist. • The process of mining can be done more safely with the help from proof of work and the cost associated with it. • This Blockchain model whereas only transacts the accounts validated to the participants of this chain. Copyright© BlockchainCouncil 3 Sign Up Now The objectives of MultiChain:
  4. 4. • The process of hand-shaking in MultiChain occurs when the nodes in a blockchain connect with each other. • MultiChain takes place when two Blockchain nodes connect. • The identity of each node represents itself with an address with a list of permissions. • Therefore the each node which it represents sends a message to the other users. • The P2P connection aborts if they do not receive any satisfying results from the process. Copyright© BlockchainCouncil 4 Sign Up Now The Hand-ShakingProcess:
  5. 5. • The MultiChain defines miners to an identifiable set of entities. It introduces a criterion known as mining diversity that binds with 0 <= mining diversity <= 1. • The efficacy of block is verifiable by performing the following: o Apply the changes in permissions set by transactions and the block respectively. o Count the total approved miners set after these variations in the block. o Multiply the number of miners by mining diversity and round up to attain left spacing. Copyright© BlockchainCouncil 5 Sign Up Now process of mining inMultiChain technology:
  6. 6. • This put the round-robin schedule in effect. • The miners create blocks in a rotation in this schedule so as to generate an accurate BlockChain. • The mining diversity criterion establishes the rigidness of the scheme. • The "one" value delineates that the rotation includes every permitted miner. Whereas zero result means no restrictions at all. Copyright© ToshendraSharma 6
  7. 7. PARAMS.DAT FILE • In Multichain, the transaction fees and the Block incentive is null by default. However, you can name these value in the params.dat file. • This file encloses the whole configuration like: o The protocol of the chain. o Target time for the block. o Active permission type.Mining diversity. o Mining incentive. o Approved type of transaction. o Maximum block size. o Maximum meta data per transaction. Copyright© ToshendraSharma 7
  8. 8. OUR CONTACT DETAILS https://www.blockchain-council.org training@blockchain-council.org fb.com/blockchaincouncil @chaincouncil WEBSITE: EMAIL: THANK YOU FOR YOUR TIME Copyright© BlockchainCouncil 8 Blockchain CouncilComPany: Sign Up Now

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