Closed ledger private network - no mining

Question

I'm looking into running my own closed network ledger/ asset chain infrastructure. In researching your product you mention "mining" I'm new to the whole blockchain and bitcoin and I'm trying to understand how yours work.

How does the mining work for private network? Can I disable the mining feature/ services? Would mining cost me actual money? bitcoin?

Answer 1

"Mining" is a bit of a misleading term in MultiChain private networks. It doesn't require a complex calculation, just a digital signature from the block creator, with the "mining diversity" rule ensuring that a minority of parties cannot seize control of the chain. Please see the section starting on page 7 of the white paper:

http://www.multichain.com/white-paper/