Course Outline

1. Cryptocurrency and Blockchain

2. Delving into Blockchain
3. Bitcoin and Blockchain
4. Bitcoin Mining
5. Ethereum
6. Setting up a Private Blockchain Environment Using Ethereum Platform
7. Hyperledger
8. Setting up a Development Program Using Hyperledger Composer
9. Creating and Deploying a Private Blockchain on Multichain
10. Prospects of Blockchain
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 Create & Deploy
a Private
Blockchain on
Multichain

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 Agenda

At the end of this session, you will be able to:

 Define Multichain
 Describe Multichain Streams
 Create and Deploy a Private Blockchain
 Explain Connecting to a Blockchain
 Identify Multichain Interactive Mode
 List Native Assets
 Define Transaction Metadata
 Explain Streams
 Explain Mining

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 Multichain

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 Multichain
“
Let’s learn about Multichain.

“
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 Blockchains for Enterprises
Private shared database

Control pf limit + cost

Designate “miners”

No digital money

Aggregate administrator

Shroud the points of interest

Blockchain as apparatus not belief system

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 Multichain: Introduction

• Multichain is an off-the-rack stage for the creation and

arrangement of Private Blockchains, either inside or
between associations.
“
• Derived from Bitcoin center programming,
consequently, it is perfect with Bitcoin biological
community.

“
• Multichain underpins Windows, Linux and Mac servers

• It gives a basic API and charge line interface that makes

it simple to maintain and deploy.

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 Bitcoin to Private Blockchain
Many aspects of Multichain’s design are aimed at enabling smooth transitions between Private
Blockchains and the bitcoin blockchain in either direction:

• Multichain depends on a fork of Bitcoin Core, the official customer for the bitcoin
network. Code changes are restricted, empowering future bitcoin upgrades to be
converged in.
• It utilizes bitcoin's protocol, transaction and Blockchain engineering, with changes just to
“
the hand-shaking procedure when two nodes initially connect. Every single other
element is executed utilizing metadata and changes to the approval rules for transactions
and blocks.
• Its interface (command line and API) is completely perfect with that of Bitcoin Core, with
all extra usefulness gave by new orders.

“
• It can go about as a node on the consistent bitcoin network (or other bitcoin like systems),
by means of a basic convention setting in the per blockchain arrangement record.
• Its multicurrency and informing highlights work comparably to the CoinSpark convention
for upgrading bitcoin transactions.

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 Aims of Multichain
The main aims of Multichain are:

1 To guarantee that visibility of Blockchain's action must be kept inside the picked members

2 To control over which transactions are allowed

3 To enable more secure mining with proof of work and its associated cost

The Blockchain framework just stores transactions identified with members.

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 Hand-shaking Process
Multichain uses a private key cryptography property to restrict blockchain access to a list of
permitted users, by expanding the “hand-shaking” process that occurs when two blockchain
nodes connect.

Every node displays its way of life as an open address on the allowed list.

Every node confirms that the alternate's address is without anyone else allowed list.

Every node sends a test message to the next gathering.

Every node sends back a mark of the test message giving their responsibility for the private
key relating to people in general address they exhibit.

On the off-chance that any of the nodes don't have the fulfilling comes about, they
prematurely end the distributed association.
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 Multichain Use Cases

Permission Blockchain
Validation by consensus, not by proof of work 01

Full asset Lifecycle

Issuance, transfer, exchange, escrow,
reissuance, redemption and destruction
02

General Storage and Search

64 MB of data per transaction
Streams: key-value, identitySTEP
and time series
03

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 Multichain Permissions
Interface with network

Send and receive transactions

Keep in touch with a stream

Issue resources

Make streams

Add block to chain

Change authorizations by agreement

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 Multichain Assets
No requirement for keen contracts

Flexible resource metadata

Permissioned take after on issuance

Atomic multi-resource payments

Multi-way atomic resource trades

Multi-signatures for security + escrow

Buy in to resource inquiry transactions

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 Multichain Streams

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 Multichain Streams “
Streams can be used to implement different
types of databases. Let’s learn more about

“
Multichain streams.

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 Multichain Streams
Streams
05
provide a natural abstraction for Blockchain use cases which focus on general data
06
retrieval, timestamping and archiving.

Any number of streams can be created in a Multichain Blockchain, and each stream acts as an
independent append-only collection of items.

Nodes choose which streams to index.

Streams can be used to implement three different types of databases on a chain:

• A key-value database or document store, in the style of NoSQL

• A time-series database, which focuses on the ordering of entries
• An identity-driven database, where entries are classified according to their author

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 Streams Basics

Each item in a stream has the following characteristics:

One or more publishers who have digitally signed that item

A discretionary key for helpful later recovery.

A few information, which can run from a little bit of content to numerous megabytes of crude
double

A timestamp, which is taken from the header of the block in which the thing is affirmed

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 Retrieving from Streams
If a node is subscribed to a stream, information can be retrieved from that stream in a number
of ways:

Retrieving items from the stream in an order

Retrieving items with a particular key

Retrieving items signed by a particular publisher

Listing the keys used in a stream, with item counts for each key

Listing the publishers in a stream, with item counts

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 Consensus Model
Each block is digitally signed by the creator
• Only permissioned parties can “mine”

Mining diversity for distributed consensus

No proof-of-work or digital money

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 Multichain Flexibility
There are 45+ Blockchain parameters.
• Block size/time, permissioning, admin consensus, mining, optional native currency, etc.

Authorizations can change after some time.

Resources: reissuance and devastation

Streams: hubs take after their interests

Custom metadata all around

They are bound together JSON-RPC API for applications.

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 Deployment Options
Environment agnostic:
• Self-hosted in data center
• Public or private cloud
• Accessed as a service

Nodes are added simply and quickly.

API cleanly separates app from node.

Shared administration model

• Smooth governance transitions

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 Security in Multichain
Forked from Bitcoin Core
• $40B+ and more than 8 years of presentation to web

Full multi-signature bolster

Outer key administration

• Bitcoin equipment security modules

Agreement over information not execution

• Avoids Ethereum-style hard forks
• No need for fees to stop runaway

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 Speed & Scalability
Millions of addresses, assets and streams

Unlimited transactions/stream items

1000 tps (1.0 bets 2 + mid-range server)

Signature verification + transaction processing, i.e., real Byzantine tolerance

Unlimited nodes in network

Block time as low as 2 seconds

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 Process of Mining in Multichain Technology
Multichain defines miners to an identifiable set of entities. It introduces a criterion known as
mining diversity that binds with 0 <= mining diversity <= 1

The efficacy of block is verifiable by performing the following steps:

• Apply the changes in permissions set by transactions and the block, respectively
• Count the total approved miners set after these variations in the block
• Multiply the number of miners by mining diversity and round up to attain left spacing

This put the round-robin plan for impact in which the allowed mineworkers must make obstructs
in turn in request to produce a legitimate Blockchain.

The mineworkers make obstructs in a turn in this calendar to produce a precise Blockchain.

The mining decent variety measure builds up the unbending nature of the plan.

The "one" esteem outlines that the pivot incorporates each of the allowed diggers. While, zero
limitations implies no limitations by any means.
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 The params.dat File
You can set these values in a params.dat file. The params.dat file contains the whole configuration
as follows:

The chain’s protocol Mining reward

Target time for block Permitted transaction type

Active permission types Maximum block size

Mining diversity Maximum metadata per transaction

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 Create & Deploy a Private Blockchain

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 Create & Deploy a Private Blockchain “
Now, we are going to learn steps to create and
deploy a Private Blockchain.

“
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 Steps to Create & Deploy a Private Blockchain
Following are the steps to create and deploy a Private Blockchain:

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 Step 1: Creating a Blockchain

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 Download & Install Multichain
su (enter root password)
cd /tmp
wget https://www.multichain.com/download/multichain-1.0.3.tar.gz

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 Download & Install Multichain
tar -xvzf multichain-1.0.3.tar.gz
cd multichain-1.0.3
mv multichaind multichain-cli multichain-util /usr/local/bin

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 Creating a Blockchain
First, we will create a new Blockchain named chain1 (you can give the name of your choice).

On the first server, run this command: multichain-util create chain2

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 Viewing Default Settings
To view the Blockchain’s default settings, run the following commands:
cat ~/.multichain/chain1/params.dat
(The above command will list the parameters and settings of the Blockchain)

Note: The list shown here is just a specimen, as the list was too long to display on the ppt.

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 Initializing the Blockchain
Run the following command to initialize the Blockchain, including mining the genesis block:
multichaind chain1 -daemon

Note: You should be told that the server has started and then, after a few seconds, that the genesis block
was found. You should also be given the node address that others can use to connect to this chain.

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 Connecting to a Blockchain

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 Connecting to a Blockchain “
Let’s learn about Connecting to a Blockchain.

“
.

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 Step 2: Connecting to a Blockchain

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 Connecting to a Blockchain from the Second Server
Now, we’ll connect to this Blockchain from elsewhere. On the second server, run the following:
multichaind chain1@[ip-address]:[port

Note: You should be told that the Blockchain was successfully initialized, but you do not have permission
to connect. You should also be shown a message containing an address in this node’s wallet.

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 Adding Connection Permissions for the Address
To add connection permissions for this address, run the following:
multichain-cli chain1 grant 13qhJDHhdvTjVr4qyjfkUXF92kyVmWz1FsyfnMconnect
The above command will grant permission to connect to the specified address.

Note: The address here is unique for this particular Blockchain. It will be different when you run your
Blockchain.

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 Reconnecting from the Second Server
Now, try reconnecting again from the second server:
multichaind chain1 -daemon

Note: You should be shown a message that the node has been started, and it should display the second
node’s address.

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 Multichain Interactive Mode

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 Multichain Interactive Mode “
Let's learn about the Multichain Interactive Mode.

“
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 Step 3: Multichain Interactive Mode
Before we proceed, let’s enter the interactive mode so that we can issue commands without
typing multichain-cli chain1 every time.

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 Switching to the Interactive Mode
To enter the Multichain interactive mode, on both servers run the following command:
multichain-cli chain1

Server 1:

Server 2:

Note: Now that the Blockchain is working on two nodes, you can run the commands in this section on
either any one or both nodes.

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 Getting the General Information
To get the general information of the Blockchain, execute the following:
getinfo
The above command will provide the general information about the Blockchain

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 Permissions Currently Assigned
To show all the permissions currently assigned, execute the following:
listpermissions
The above command will list all the permissions currently assigned to the address.

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 Creating a New Address in the Wallet
To create a new address in the wallet, execute the following:
getnewaddress
The above command will create a new address in the wallet.

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 List All Addresses
To list all the addresses in the wallet, execute the following:
getaddresses
The above command will list all the addresses in the wallet.

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 Getting Blockchain Parameters
To get Blockchain parameters, execute the following:
getblockchainparams
The above command will display the parameters of this blockchain.

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 Getting a List of Connected Peers
For each node, get a list of connected peers by executing the following:
getpeerinfo
The above command will list the connected peers.

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 Native Assets

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 Native Assets “
Let's learn about Native Assets.

“
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 Step 4: Native Assets

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 Getting Permissions to Create Assets
Now, we are going to create a new asset and send it between nodes.
On the first server, get the address that has the permission to create assets by running the following:
listpermissions issue

The above command will list the address that has the permission to create assets.

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 Creating a New Asset
Now, we’ll create a new asset on this node with 1000 units, each of which can be subdivided
into 100 parts, sending it to itself.
To create a new asset, execute the following:
issue 1JXy9Va15ikDf4xmE8XGu74ZuxfAnz3Ug6pq4J asset1 1000 0.01
The above command will issue asset1 to the specified address.

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 Verifying the Asset
On both servers, verify that the asset named asset1 is listed by the following command:
listassets

Server 1:

The asset can be

seen listed in both
servers.

Server 2:

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 Checking Asset Balances
Now, we will check the asset balances on each server. The first should show a balance of 1000,
and the second should show no assets at all.

Server 1
The first server shows
the asset balance of
1000, whereas the
second server has no
asset at all. Hence,
verified.
Server 2

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 Sending the Asset
On the first server, now try sending 100 units of the asset to the second server’s wallet.
To send the units, execute the following command:
gettotalbalances

Server 1
The first server shows
the asset balance of
1000, whereas the
second server has no
asset at all. Hence,
verified.
Server 2

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 Adding Permissions
Beforehand, you probably might have observed a blunder that the address does not get
authorizations. So, it's a great opportunity to include get and send authorizations.
To allow authorizations to the address, execute the accompanying order:
grant 13aNooypwXPW5NzuxvzGEDtEG6Hxtq8LhpByd receive, send
The above command will grant permission to the address to receive or send the asset.

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 Resending the Asset
Now, try sending the asset again, and it should go through:
sendasset 13aNooypwXPW5NzuxvzGEDtEG6Hxtq8LhpByd asset1 100

The above command will now send the asset to the particular address.

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 Checking Asset Balances
Now, we will check the asset balances on each server, including transactions with zero
confirmations. They should be 900 and 100, respectively.
To check asset balances, execute the following command:
gettotalbalances 0

You can see Server 1

that the Server
1 asset balance
is now 900,
and Server 2
has an asset
balance of 100.
Server 2

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 View Transaction
You can likewise see the transaction on every node and perceive how it influence their
equalizations.
To view the transaction, execute the following command on each node:
listwallettransactions 1

Server 2

Server 1

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 Transaction Metadata

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 Transaction Metadata “
Let's learn about Transaction Metadata.

“
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 Step 5: Transaction Metadata

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 Checking Asset Balances
To create a transaction with some metadata on the first server, execute the following
command:

sendwithdata 13qhJDHhdvTjVr4qyjfkUXF92kyVmWz1FsyfnM '{"asset1":125}'

48692066726f6d204d756c7469436861696e21

This is just an example of metadata,

and it can be anything of your choice.

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 Examining the Transaction
Now, the previous transaction can be examined on the second server.
To examine the second server, execute the following command:

getwallettransaction ϭϯϯϯ7eϮa…..ϭϬfϭ7

This is the transaction ID.

In the balance field, you can see the

incoming 125 units of asset1 and the
data field containing the hexadecimal
metadata that was added.

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 Streams in Multichain

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 Streams in Multichain “
Let's learn about Streams in Multichain.

“
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 Step 6: Streams in Multichain

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 Examining the Transaction
To create a stream, execute the following command on the first server:

create stream stream1 false

Note: The false means that the stream can only be written to and by those with explicit permissions.

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 Permissions of the Stream
Let’s see the permissions of the stream.
To see the permissions, execute the following command:

listpermissions stream1.*

Note: So far only the first server has the ability to write to the stream, as well as administrate it.

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 Publishing to the Stream
Let’s publish something to the stream using the key.
To publish to the stream with the key, execute the following:

publish stream1 key1 73747265616d2064617461

This is just a random data. It can

be anything of your choice.

Note: So far only the first server has the ability to write to the stream, as well as administrate it.

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 Checking the Visibility of the Second Server
Now, let’s see whether the stream is visible on another node.
For this, on the second server execute the following command:

liststreams
The above command will list the streams.

Note: Here, the root stream was in the system by default.

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 Allowing Second Server to Subscribe to the Stream
Now, we want the second server to subscribe to the stream and view its contents.
To subscribe to the stream and view its content, execute the following command:
subscribe stream1
liststreamitems stream1

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 Allowing Second Server to Publish to the Stream
Now, we want the second server to be allowed to publish to the stream.
To publish to a stream, first we have to provide permission to the address. For this, execute the
following on the first server:
grant 13aNooypwXPW5NzuxvzGEDtEG6Hxtq8LhpByd receive,send
grant 13aNooypwXPW5NzuxvzGEDtEG6Hxtq8LhpByd stream1.write

Note: The address needs both general send/receive permissions for the Blockchain, as well as permission
to write to this specific stream.

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 Publishing items on the second server
Now, let’s publish a couple of items on the second server, by running the following:
publish stream1 key1 736f6d65206f746865722064617461

publish stream1 key2 53747265616d732052756c6521

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 Mining

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 Mining “
Let’s learn more about mining.

“
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 Step 7: Mining

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 Start Mining
To start the mining process, on the first server run the following:
grant 13qhJDHhdvTjVr4qyjfkUXF92kyVmWz1FsyfnM mine

grant 1ZzjXBkmMAkGad3KA8LSZwEfndFkjvY7v2hkke mine

Note: We have granted mining permission to both nodes.

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 Check if the Two Permitted Miners Are Listed
To check whether the two permitted miners are listed, execute the following command on the
second server:
listpermissions mine

We can see that the

mining consent is
allowed to both
mineworkers.

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 Setting Runtime Parameters
To maximize the degree of miner randomness, execute the following command:

setruntimeparam miningturnover 1

Note: Presently, sit tight for a few minutes with the goal that a couple of blocks will be mined.

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 Checking the Current Block Height
To check the block height on both servers, run the following command:
getinfo

Note: The block stature is in the blocks field of the reaction.

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 Getting information of last few blocks
Now let’s get information about the last few blocks, beginning with this (here, 197) one:
getblock [block-height]

The address of the digger of each block is in

the mineworker field of the reaction. In
various blocks you should see the two
unique locations in this field

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