Implementing SPV wallet for multichain

Question

Hi, can you offer any advice on the implementation of SPV for a multichain wallet? The reason I ask is that typically for metacoins, in order to really validate the balance of asset on the blockchain, one has to know the original issuing transaction in order to validate the balance at least that's how I understood how colored coin works. However, there is no way to tell unless the entire chain is being scanned. I read from here that https://cointelegraph.com/news/coinspark-developer-gideon-greenspan-on-his-mission-to-build-a-20-platform-for-the-average-user Multichain is able to solve this without downloading the entire chain. What I fail to understand is how Multichain is able to do this. Can you enlighten me a little more on this design question?

Answer 1

MultiChain solves this in a way which colored coins protocols (on bitcoin) cannot, because every node in a MultiChain network is automatically validating every asset transfer represented by transactions, and this is something which the bitcoin network does not do. In other words, the bitcoin network is blind to the metadata representing non-bitcoin assets, whereas any MultiChain network is not. As a result, the existence of a single transaction in a MultiChain blockchain is enough to prove all of the assets that transaction represents. Of course, you still have to trust the network / validators as a whole.