Why multichain?

HyFi Blockchain uses the Multichain framework with distributed consensus between identified block validators. It's close in spirit to PBFT (Practical Byzantine Fault Tolerance), but instead of multiple validators per block, there is one validator per block, working in a round-robin fashion.

It's described in detail in the 'Mining in MultiChain' section beginning on page 7 of the white paper at: http://www.multichain.com/white-paper

Why Multichain?

  1. High speed: Greater than 1000 tps, which includes signature verification & transaction processing i.e. real Byzantine. Block time as low as 2 seconds.

  2. High scalability: Supports millions of addresses, assets, streams and unlimited transactions / stream items. Also supports unlimited nodes in network.

  3. High security: Forked from Bitcoin Core; Full multi-signature support; External key management (Bitcoin hardware security modules).

  4. Unified JSON-RPC API for applications: API cleanly separates app from node; Compatible with any API library developed for Bitcoin Core.

  5. Flexible assets: No need for smart contracts; Flexible asset metadata; Permissioned follow-on issuance; Atomic multi-asset payments; Multi-way atomic asset exchanges; Multi-signatures for security & escrow; Subscribe to asset to query transactions.

  6. Permissioned blockchain: Validation by consensus, not proof of work.

  7. Full asset lifecycle: Issuance, transfer, exchange, escrow, reissuance, redemption, destruction.

  8. General storage and search: 64 MB of data per transaction. Streams support key–value, identity, time series.

  9. Multiple deployment options: Environment agnostic (self-hosted in data center, public or private cloud); Accessed as a service; Nodes added simply and quickly; Shared administration model; Smooth governance transitions. 

  10. 45+ blockchain parameters: Block size/time, permissioning, admin consensus, mining, optional native currency.

  11. Data streams: Enable a blockchain to be used as a general-purpose append-only database, with the blockchain providing time stamping, notarization, and immutability.