Would you recommend using MultiChain for public, bitcoin-like blockchain?

+2 votes
I'm trying to make a project that depends partly on a public blockchain.
I need my blockchain to be public, PoW based, have a medium block size and a currency.

Reading the white paper it seemed that while this is all currently supported, it's not the way MultiChain is meant to be used.

I have no previous experience developing blockchain applications, I chose MultiChain for its ease of use and setting up, easy configuration, tutorials, and overall developer friendliness.

So my question is: Should I keep using MultiChain, or do you recommend forking some other project? If so, which one would you recommend?
asked Jul 14, 2017 by b2

1 Answer

+1 vote
Best answer
MultiChain will work fine as a public blockchain, but there is a problem: it uses the same proof-of-work mechanism as the bitcoin network. This means that a small part of the bitcoin mining power would be enough to completely overwhelm your new network and take control of it. Of course this problem will be present for any new proof-of-work blockchain which is a fork of an existing popular one.

So if you want to launch your own public blockchain and make it safe I think you either need to develop a new proof-of-work mechanism (which you could use in MultiChain by modifying the source code) or else move to something like proof-of-stake (which would be harder to implement in MultiChain but not possible).
answered Jul 17, 2017 by MultiChain