Multichain (MULTI) news

What is Multichain (MULTI)?

According to their official documentation, Multichain is an infrastructure developed for arbitrary cross-chain interactions. The platform claims to be the ultimate router for web3 and offers solutions that enable nearly all blockchains to interconnect, including EVM chains like Avalanche, Layer 2 chains tied to Ethereum such as Polygon, and Parachains networks like Moonbeam on Polkadot.

Who are the Founders of Multichain?

Zhaojun is one of the co-founders and serves as the CEO of Multichain, an infrastructure designed for arbitrary cross-chain interactions.

What makes Multichain Unique?

Multichain has developed a solution to the problem of a single point of failure when transacting cross-chain. The solution involves using Threshold Signature Schemes (TSS) and splitting the security key. Multichain's Secure Multi-Party Computation (SMPC) network implements TSS Distributed Key Generation, an algorithm custom written and optimized by the engineers at Multichain. Each node in this unique selection is independent and produces part of the private key responsible for confirming transactions. By digitally signing transactions, the SMPC network can manage asset accounts and smart contracts across multiple blockchains. Multichain's unique feature, VeMulti, is the governing system for multiDAO, which rewards stakers of MULTI with veMULTI NFTs and grants them voting rights.

How is the Multichain Network Secured?

The PoS consensus mechanism secures the Ethereum blockchain on which MULTI, an ERC-20 token, is issued. Validators participate in consensus and validate transactions by staking 32 ETH.