Multichain is a cross-chain infrastructure that enables arbitrary interactions between various blockchains. It allows for the exchange of value, data, and control between chains in a fast, secure, inexpensive, and reliable way. Multichain has more than 600 bridged assets and is almost universally applicable as an interoperable layer. It is the leader in the cross-chain field, with daily volumes well in excess of $100 million and thousands of daily users.
Multichain was created in 2020 as Anyswap and had a rebrand in 2021.
Multichain uses a distributed key algorithm called Threshold Signature Schemes (TSS) to avoid a single point of failure and to protect the private key responsible for signing transactions. The Multichain network of nodes implements the TSS Distributed Key Generation algorithm in a Secure Multi Party Computation (SMPC) network. The nodes collectively sign transactions, but the complete key is never assembled and so it cannot be intercepted. The SMPC network is responsible for signing transactions on each supported blockchain to perform a multitude of tasks comprising the management of asset accounts and smart contracts. The end result is a decentralized and trustless service. Security and performance trade-offs exist as the total number of nodes and the threshold are changed. Another possible security flaw rests on each blockchain itself.
MULTI is the native governance token of Multichain. MULTI has a total supply of 100,000,000 and a circulating supply of 14,541,094.
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