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MultiChain – Private multicurrency blockchain platform

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An introduction to MultiChain, an open source platform for private blockchains, that is backwards compatible with Bitcoin Core.

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MultiChain – Private multicurrency blockchain platform

  1. 1. MultiChain Private Blockchain Platform Coin Sciences Ltd www.multichain.com
  2. 2. Coin Sciences Ltd Blockchains for enterprise •  Private shared database •  Control of capacity + cost •  Designated “miners” •  No cryptocurrency •  Collective admin •  Hide the details •  Blockchain as tool not ideology
  3. 3. Coin Sciences Ltd MultiChain 1.0 •  2.5 years of user-driven development •  Now in final beta prior to release •  Easy to install and use (direct on OS) •  Linux, Windows or Mac •  Deploy on premise, in cloud, etc… •  Copyleft open source (GPLv3) •  Compatible with bitcoin ecosystem
  4. 4. Coin Sciences Ltd MultiChain downloads Figuresareperquarter,notcumulative 0 5,000 10,000 15,000 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017
  5. 5. Coin Sciences Ltd Developers love MultiChain “MultiChain is a simple, powerful, well-documented platform that makes it easier to start a blockchain-based project.” — David Treat, Global Head of Blockchain, Accenture “In our experience, MultiChain as a blockchain fabric is much easier to reason with than the other players.” — Senior blockchain developer at Big 4 accounting firm “MultiChain is the most stable and reliable blockchain software product… We have used it for… projects with great success.” — Marcelo Garcia Casil, DXMarkets “My choice of using MultiChain was based on it's level of maturity… Not to blow smoke but you guys have done an awesome job.” — Recent customer email
  6. 6. Coin Sciences Ltd MultiChain partnerships •  40+ partners using MultiChain including:
  7. 7. Coin Sciences Ltd Good MultiChain use cases •  Permissioned blockchain – Validation by consensus, not proof of work •  Full asset lifecycle – Issuance, transfer, exchange, escrow, reissuance, redemption, destruction •  General storage and search – 64 MB of data per transaction – Streams: key–value, identity, time series
  8. 8. Coin Sciences Ltd MultiChain permissions •  Connect to network •  Send and receive transactions •  Write to a stream •  Issue assets •  Create streams •  Add blocks to chain •  Change permissions by consensus
  9. 9. Coin Sciences Ltd MultiChain assets •  No need for smart contracts •  Flexible asset metadata •  Permissioned follow-on issuance •  Atomic multi-asset payments •  Multi-way atomic asset exchanges •  Multisignatures for security + escrow •  Subscribe to asset to query transactions
  10. 10. Coin Sciences Ltd MultiChain streams •  General data storage and retrieval •  Nodes choose which streams to index •  Items indexed and retrievable by: – What item is (item key) – Who created item (signature) – Where item is in global order – When item was confirmed – Which block item is stored in
  11. 11. Coin Sciences Ltd Consensus model •  Every block digitally signed by creator – Only permissioned parties can “mine” •  Mining diversity for distributed consensus •  No proof-of-work or cryptocurrency
  12. 12. Coin Sciences Ltd MultiChain flexibility •  45+ blockchain parameters ü  Block size/time, permissioning, admin consensus, mining, optional native currency •  Permissions can change over time •  Assets: reissuance and destruction •  Streams: nodes follow their interests •  Custom metadata everywhere •  Unified JSON-RPC API for applications
  13. 13. Coin Sciences Ltd Deployment options •  Environment agnostic – Self-hosted in data center – Public or private cloud – Accessed as a service •  Nodes added simply and quickly •  API cleanly separates app from node •  Shared administration model – Smooth governance transitions
  14. 14. Coin Sciences Ltd Security in MultiChain •  Forked from Bitcoin Core – $40B+ and over 8 years exposure to Internet •  Full multisignature support •  External key management – Bitcoin hardware security modules •  Consensus over data not execution – Avoids Ethereum-style hard forks – No need for fees to stop runaway code
  15. 15. Coin Sciences Ltd Speed and scalability •  Millions of addresses, assets, streams •  Unlimited transactions / stream items •  >1000 tps (1.0 beta 2 + mid-range server) – Includes signature verification + transaction processing i.e. real Byzantine tolerance – (Beware of spurious comparisons…) •  Unlimited nodes in network •  Block time as low as 2 seconds
  16. 16. Coin Sciences Ltd Detailed online documentation http://www.multichain.com/developers/
  17. 17. Coin Sciences Ltd Development timeline 2014 2015 2016 2017 2018 2019 CoinSpark MultiChain 1.0 2.0 Community 2.0 Enterprise First alpha release MultiChain 3.0
  18. 18. Coin Sciences Ltd Company vision •  Blockchain as new data architecture – Enables a single database to be safely and directly shared across trust boundaries •  Many commercial applications – Expect to play out over 20 years •  We are a software company – Deep technologists focused on platform – Work with partners to deliver solutions
  19. 19. MultiChain Download and documentation www.multichain.com Thank you

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