hands on with multichain

Hands on with MultichainA multi-asset private Blockchain

29th of February 2016

Roderik van der Veer@r0derik on Twitter - +32 491 50 58 15

Bitcoin Blockchain and its shortcomings

THE ESSENCE OF THE BITCOIN BLOCKCHAIN

Single asset, distributed, immutable ledger for transactions

General purpose, permanent, data store

SHORTCOMINGS OF THE BITCOIN 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

The Multichain solution

THE MULTICHAIN FORK SOLUTION

• 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

On to some examples

STARTING A DOCKER EXPERIMENTATION 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

A STOCK MARKET APP

Register at https://labs.kunstmaan.be/first-production-blockchain-application

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

THANK YOU!

Want to explore your Blockchain usecase, give me a call or talk to me after the presentations.