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Hands on with multichain
The document discusses the limitations of the Bitcoin blockchain, including low transaction capacity and high costs, and presents the Multichain solution that offers a private, customizable blockchain with support for multiple assets. It highlights features such as no transaction fees, application-specific chains, and atomic exchanges to enhance functionality. Additionally, the document provides guidance on setting up a Docker experimentation environment and offers links for further resources and live demos.
Hands on with multichain
- 1. Hands on withMultichain A multi-asset private Blockchain 29th of February 2016 Roderik van der Veer @r0derik on Twitter - +32 491 50 58 15
- 2. Bitcoin Blockchain and itsshortcomings
- 3. THE ESSENCE OFTHE BITCOIN BLOCKCHAIN Single asset, distributed, immutable ledger for transactions General purpose, permanent, data store
- 4. SHORTCOMINGS OF THEBITCOIN BLOCKCHAIN • Limited capacity: 3-7 transactions/sec ~ 1 block per 10 minutes • Transaction costs: around 20 cents per transaction • Irrelevant data: well over 50GB of data at this time • Open nature: anyone can connect, read and write • Single asset: workarounds with metadata needed to do more
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- 6. THE MULTICHAIN FORKSOLUTION • Private Blockchain: control who connects, reads and writes • Customise mining: configure diversity, blocksize and frequency • No mining/transaction fees: due to the private nature • Application specific chains: no irrelevant data • Multiple asset support: from currency to financial instruments to ... • Atomic exchanges: prevent double spend and one sided transactions Download and developer documentation at http://www.multichain.com
- 7. On to someexamples
- 8. STARTING A DOCKEREXPERIMENTATION ENVIRONMENT • Docker: a tool for creating and running containers • Docker Compose: easy and shareable services orchestration • A preconfigured experimentation environment • Starts 1 master and 3 slave nodes • Installs and configures Multichain Explorer Try it yourself! More info and downloads at https://labs.kunstmaan.be/multichain-docker
- 9. A STOCK MARKETAPP Register at https://labs.kunstmaan.be/first-production-blockchain-application
- 10. LIVE DEMO TIME ‣./setupEnvironment.sh # Sets up the environment ‣ ./runExchange.sh # Runs the exchange ‣ ./runDocument.sh # Runs the document validation Source code available at http://labs.kunstmaan.be/hands-on-with-multichain
- 11. THANK YOU! Want toexplore your Blockchain usecase, give me a call or talk to me after the presentations.