MultiChain is an open source platform for private blockchain applications that provides highly configurable permissioned blockchains, fast transaction processing speeds, and decentralized data storage through customizable assets and streams. It offers a flexible way to deploy private blockchains across operating systems and clouds. MultiChain has been used for various use cases including identity management, insurance administration, and enabling liquidity in crowdfunding.

1. MultiChain
Open platform for blockchain applications

2. RoelandGielen
CEO, Kunstmaan
Daan Poron
Senior software architect,
Kunstmaan
Dr.GideonGreenspan
CEO and Architect, CoinSciences
TomGhelen
Senior Manager,Accenture

3. “Blockchains represent a fundamental innovation in
information architecture, enabling a single database to be
directly and safely shared between multiple organizations,
without the need for an intermediary.They promise to
streamline a wide range of use cases in whichorganizations
coordinate their activity via data, whether in financial
services, healthcare, manufacturing orIT.”
Dr Gideon Greenspan, CEO andArchitect, Coin Sciences
Vision

4. “Itrytosteerclearofoverhypingthings…”
R No implementation of functionalities until proven
R No announcement of Beta while there are known issues
R Focused on genuine blockchain use cases, not what is fashionable
Dr Gideon Greenspan, CEO andArchitect, Coin Sciences
Vision

5. 1. Off-the-shelf private blockchains
• Multiplatform opensource
2. Single lightweightexecutable
• No container, No compilation, Nodependencies
3. Focussed on data and assets
MultiChain platform

6. 2009
Bitcoin
started
MultiChain
started
MultiChain
13 platform partners
FirstAlpha
release
Official beta +
sourcecode
Selected futurefeatures:
• Live replication todatabase,
Multitenant security
• Zcash-style transactions (once
proven!), per asset permissions,
larger transaction/block size,
higher transaction rate ...
2015 20172016 2018
Productroadmap
FirstWindows
release

7. MultiChain traction(organicsearch)
45,000
40,000
35,000
30,000
25,000
20,000
15,000
10,000
5,000
0
Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016
Over20,000
organic
monthly
visitorsto
website

8. Features

9. Highly
configurable
Permissioned
blockchain
Consensus
by mining
diversity
Full asset
lifecycle
General data
storage

10. Highly
configurable
R 45+ blockchainparametersto configure
• Block size/time,
• permissioning,
• adminconsensus,
• mining,
• optional native currency
• …
R Bitcoin compatible configuration possible
R Cannot be changed after creation (yet …)

11. R Differenttypes of permissioned actions
• admin, activate
• connect to network,mining
• issue, send, receiveassets
• create,write to astream
R Permissionsenforcedand storedin blockchain
R Change permissions byconsensus
R Anyof these can be made permissionless
R Temporarypermissions based on block range
Permissioned
blockchain

12. R Everyblock digitallysigned bycreator
• Only permissioned parties can “mine”
R Mining diversity, not Proof of Work
• adjustable strictness of the round robin scheme, to
allow for some non-functioning mining nodes
R No need for cryptocurrency as incentive
R Fast confirmation (in private blockchain)
R No risk of central control
Consensus
by mining
diversity

13. Consensus
by mining
diversity
R 0 <= mining diversity<= 1
R #blocks to wait = (#miners* mining diversity)- 1
1
0,5
0
#blocks
to wait
1
1
2
3
4
2 3 4
#nodes with
mining permission

14. Full asset
lifecycle
R Network-level verification
R Per-output transaction model
• multiple assets per output
R Supports full asset lifecycle
• issuance, reissuance, transfer, escrow, atomic exchange and
destruction
R Custom asset metadata fields
• easy access to history of fieldvalues
R Permissioned (issue, send, receive assets)
R ∞ number of assets possible
R Optional native currency

15. General data
storage
R Largeamount of data per transaction
(8 MB, togrow)
R Streams:
• key–value-, identity- and time seriesdata
- digitally signed
- timestamped
- immutable
• permissioned (create, write)
• subscribe to streams
• ∞ number of streams possible

16. StreamsexampleASSETSTREAM
ID
Temperature
Weight
dff5d4…a95284
1A1zP1…DivfNa
dff5d4…a95284
1HLoD9…1J3Zb1 12c6DS…rzjrJX
[-1°] [-1°]
[5kg] [5kg]
[-1°][-3°]

17. ASSETSTREAM
ID
Temperature
Weight
dff5d4…a95284
1A1zP1…DivfNa
dff5d4…a95284
1HLoD9…1J3Zb1 12c6DS…rzjrJX
[-1°] [-1°]
[5kg] [5kg]
[-1°]
Confidentialityin MultiChain
[-3°]
asymmetricencryption
symmetricencryption

18. Confidentialityin MultiChain
Public key stream*
KEY VALUE
factory 1A1zP1…DivfNa
transporter 1HLoD9…1J3Zb1
supermarket 12c6DS…rzjrJX
asymmetricencryption
symmetricencryption
Access stream*
KEY VALUE
factory_weight [ ]
factory_temperature [ ]
transporter_temperature [ ]
Assetstream
KEY TIMESTAMP PUBLISHER VALUE
id 1481627441 1A1zP1…DivfNa dff5d4…a95284
temperature
1481627693 1A1zP1…DivfNa [-1°]
1481627704 1HLoD9…1J3Zb1 [-3°]
1481627711 1HLoD9…1J3Zb1 [-1°]
weight 1481627441 1A1zP1…DivfNa [5kg]
* items in this stream are also timestamped and have apublisher

19. “No, or at least not yet. At the moment I’m
yet to see a strong use case for permissioned
blockchains which requires a smart contract.”
Dr Gideon Greenspan, CEO andArchitect, Coin Sciences
Smart contracts?

20. “Smart contracts would be implemented in
a stream-like layer on top of the blockchain,
ratherthan in the lowest transactionlevel.”
Dr Gideon Greenspan, CEO andArchitect, Coin Sciences
R No risk at blockchain level
R Only interested nodes subscribe
R Would probably be implemented
as a new stream type “evm”
Smart contracts?

21. Tooling
• MultiChain nodes
• MultiChain Explorer
• MultiChain WebDemo
R Community
• C#, node, php, python, ruby wrapper for MultiChain-RPC
• Docker images
• multichain-address-node, node library for off-node signing
+ address generation
R Bitcoin compatible
• Libraries, explorers, mobile wallets, hardware security devices…

22. Characteristics
Implementing MultiChain
(incl. early PoC’sexperiences)

23. Deployment Flexibility Speed and
scalability
Security
and risks

24. R Runs directlyon all common operatingsystems
R Environmentagnostic
• Self-hosted in datacenter
• Public or privatecloud
• Accessed as a service
R API cleanly separates app from chain
R No deep technical skills needed
R Multi-network possible
Deployment

25. R Flexible and easy to use within a “single
solution architecture”
• 45+ blockchain parameters to configure
• Permissions can change overtime
• Gradual transfers of chain stewardship
R Streams: nodes follow their interests
R Custom asset + stream fields
R Nodes added simply and quickly
R Simple API for applications (JSON-RPC)
Flexibility

26. R 8 MB of data per transaction,storedonce
R Millions of addresses,assets, streams
R Nodes process 100–800 tx/second (due Bitcoin
core legacy, working on it)
• Includes signature verification + transaction processing
i.e. real Byzantinetolerance
R Configurable Block time (less than 10 seconds
possible)
Speed and
scalability

27. R ForkedfromBitcoin Core
• $10B+ and over 5 years exposure toInternet
R Full multisignature support
R External key management
• Bitcoin hardware security modules
Security
and risks

28. Use-cases

29. Enabler for crowdfunding:
improve liquidity, enable exit

30. You’ll just have to wait
for an exit-event…

31. Crowdfunding
low liquidity,
no established stock exchange
Blockchain
transactions
without ‘trusted’
intermediate party
Bolero Crowdfunding
The “Real*” Blockchain-application

32. R Asset lifecycle
R Easy to set up
R

33. R Identity management (largeresourcescompanyin Europe)
• Rapid and ScalableDevelopment
• Lightweight multi-platformsolution
R Insuranceadministration(largepension companyin Europe)
• Support of Decentralised Storage along withassets
• In-node logic (privacy overInsurancepolicies)
R Manymoreunder NDA

34. Summary

35. R MultiChain is an Open PlatformforBlockchainBased
Applications that is OptimizedforHigh Transaction
Efficiencyand DecentralizedStorage,and offers:
Managed
permissions
Rapid
deployment
Unlimited
assets
Data
streams

36. R Private Blockchain: control who connects, reads and writes
R Customise mining: configure diversity, blocksize and frequency
R No native currency needed: due to the private nature
R Application specific chains: no irrelevant data
R Multiple asset support: from currency to financial instruments to …
R Decentralised storage: ideal for data sharing, timestamping and
encrypted archiving

37. MultiChain
Thankyou!
Private Blockchain Platform
www.multichain.com
blockchain@kunstmaan.be