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.