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