Understanding private blockchains and the MultiChain solution

Written in plain English, the MultiChain White Paper (PDF) explains the concepts and challenges of private blockchains or distributed ledgers. It also provides a detailed description of early versions of the MultiChain platform.

Subjects covered by the white paper include:

  • Overview of bitcoin’s history, transaction model and mining.
  • Why public blockchains are unsuitable for enterprises.
  • How blockchains can be made private and permissioned.
  • Mining without proof of work in a private blockchain.
  • Representing multiple assets in blockchain transactions.
  • Atomic exchange transactions (delivery versus payment).
  • Key differences between private blockchains and regular databases.
  • Three deployment scenarios for private blockchains.
  • MultiChain current feature set and future roadmap.
  • Managing a transition between private and public chains.
  • The challenge of transaction confidentiality.