Multichain

Multichain (MULTI) is a cryptocurrency token designed to facilitate interoperability and cross-chain transactions within the blockchain ecosystem. It serves as the governance token for the Multichain platform, which aims to become the ultimate router for Web 3 by enabling seamless transactions across different blockchain networks. The platform supports a wide range of blockchains, making it almost universally applicable as an interoperable layer. Multichain’s infrastructure allows for arbitrary cross-chain interactions, including asset transfers and cross-chain contract calls, leveraging secure and decentralized protocols to ensure the integrity and security of transactions.

• Total Supply:

• 100 million MULTI tokens.

• Circulating Supply:

• 14.54 million MULTI tokens (as of the latest update).

• Token Type:

• BEP20.

• Governance:

• MULTI token holders can vote and participate in the governance of the Community and Ecosystem.

As of today #{today’s date}, the price of Multichain is ₹0 INR or #{coinPriceUsd} USD, with a 24-hour trading volume of 49446.91 USD. The market capitalization for Multichain is 1929390.5USD. The circulating supply is 14541093.56 Multichain, with the total supply also being 100000000 Multichain.

Pros:

• Interoperability:

• Facilitates seamless transactions across various blockchain networks, enhancing the fluidity of the blockchain ecosystem.

• Decentralization:

• Employs a non-custodial and decentralized approach to cross-chain transactions, ensuring security and trust.

• Governance Participation:

• MULTI token holders have the right to participate in governance decisions that influence the platform’s development and policies.

• Wide Blockchain Support:

• Compatible with all ECDSA and EdDSA encrypted chains, making it highly versatile.

• Innovative Technology:

• Utilizes Multichain Router and SMPC network for efficient and secure cross-chain interactions.

Cons:

• Complexity:

• The technical complexity of cross-chain transactions may pose a barrier to entry for some users.

• Security Risks:

• Cross-chain protocols can introduce new security vulnerabilities that need to be meticulously managed.

• Market Volatility:

• As with all cryptocurrencies, MULTI is subject to market volatility, which can affect its value unpredictably.

• Regulatory Uncertainty:

• The evolving regulatory landscape for cryptocurrencies could impact the platform’s operations and token utility.

• Competition:

• Faces competition from other interoperability solutions, which could affect its adoption and value.

• Growing Demand for Interoperability:

• As the blockchain ecosystem expands, the demand for interoperability solutions like Multichain is expected to grow.

• Active Development:

• Continuous improvements and updates to the platform indicate a strong commitment to maintaining its relevance and efficiency.

• Strategic Partnerships:

• Collaborations with various blockchain projects can enhance the platform’s utility and adoption.

• Governance Rights:

• Ownership of MULTI tokens grants governance rights, allowing investors to have a say in the platform’s future.

• Innovative Features:

• Features like the Multichain Router and support for NFTs differentiate it from other interoperability solutions, potentially increasing its value.

• Universal Interoperability:

• Supports a wide range of blockchains, making it a versatile solution for cross-chain transactions.

• Decentralized Governance:

• Empowers token holders with governance rights, fostering a community-driven development approach.

• Advanced Security:

• Utilizes secure protocols like SMPC for cross-chain interactions, ensuring the safety of transactions.

Multichain (MULTI) addresses the fragmentation of the blockchain ecosystem by enabling seamless and secure transactions across different blockchain networks. It solves the interoperability challenge, allowing for the transferring of assets and data between disparate blockchains, thus facilitating a more connected and efficient blockchain ecosystem.

The founder of Multichain is Zhaojun He, who co-founded the cross-chain bridging protocol. He is also referred to as the CEO of Multichain.

The Multichain (MULTI) token does not have an Initial Coin Offering (ICO) price, indicating it may have been launched differently from traditional ICOs.

• Technical Risks:

• The complexity of cross-chain transactions may introduce technical challenges and vulnerabilities.

• Adoption Risks:

• The platform’s success depends on widespread adoption within the blockchain ecosystem.

• Competition:

• Emerging interoperability solutions could outpace Multichain in terms of technology or adoption.

• Regulatory Risks:

• Changes in cryptocurrency regulations could impact the platform’s operations and token utility.

• Market Volatility:

• The value of MULTI tokens is subject to the volatile nature of the cryptocurrency market.

The MultiChain White Paper, authored by Dr. Gideon Greenspan, the Founder and CEO of Coin Sciences Ltd, provides a comprehensive overview of the concepts, challenges, and solutions associated with private blockchains or distributed ledgers. It is designed to be an accessible guide for understanding how MultiChain, a platform for creating and deploying private blockchains, can be utilized within or between organizations.

The paper begins by discussing Bitcoin’s achievements and limitations, particularly its slow adoption rate due to various factors such as user satisfaction with existing payment systems, the difficulty of acquiring bitcoins, and concerns over security and legal status. It also highlights the potential of using Bitcoin’s infrastructure to transact assets other than Bitcoin itself through the blockchain’s ability to store any digital data and support third-party assets via tokenization protocols.

However, the paper identifies several shortcomings of the Bitcoin blockchain for institutional financial transactions, including scalability issues, transaction costs, irrelevant data, mining risks, lack of privacy, and openness to illegal transactions. These challenges make Bitcoin unsuitable for enterprises, leading to considering private blockchains as an alternative.

MultiChain addresses the issues of mining, privacy, and openness through integrated management of user permissions, ensuring that blockchain activity is only visible to chosen participants and introducing controls over which transactions are permitted. It also enables mining without proof of work, reducing associated costs and allowing for a more controlled and private blockchain environment.

The paper explains how MultiChain uses public key cryptography to manage identity and security, with nodes presenting their identity as a public address on a permitted list during the handshaking process. Permissions in MultiChain are granted and revoked using network transactions containing special metadata, with the first “genesis” block miner automatically receiving all privileges.

Mining in MultiChain is designed to prevent any single entity from monopolizing the process by setting a parameter called mining diversity, which enforces a round-robin schedule for block creation among permitted miners. This approach ensures that control of the blockchain is distributed and robust against failures or attacks.

MultiChain supports multiple blockchains simultaneously, allowing system administrators to configure and deploy them easily. It also introduces multicurrency support by encoding the identifiers and quantities of all assets directly into transaction outputs, ensuring that the network tracks and verifies all asset movements.

The paper outlines potential future features for MultiChain, including blockchain messaging for authenticated and notarized communication, a decentralized exchange for safe asset swaps, database synchronization with relational databases, and various deployment scenarios such as centralized currency settlement, bond issuance, and peer-to-peer trading, and consumer-facing rewards schemes.

Lastly, the paper discusses the importance of privacy in blockchain transactions. It suggests methods for maintaining it, such as using multiple addresses for transactions, coin mixing services, and advanced cryptographic techniques like homomorphic encryption and zero-knowledge proofs.

In conclusion, the MultiChain White Paper presents the platform as a versatile and secure solution for private blockchains, offering privacy, control, and ease of use for institutional financial transactions and other applications.