Taking MultiChain streams to a whole new level
Today we’re delighted to share the first preview release of MultiChain 2.0, which implements one major part of the MultiChain 2.0 roadmap published earlier this year – a richer data model for streams.
Streams have proven to be a popular feature in MultiChain, providing a natural abstraction for general purpose data storage and retrieval on a blockchain. A MultiChain chain can contain any number of named streams, each of which can have individual write permissions or be open for writing by all. In MultiChain 1.0, each stream item has one or more publishers (who sign it), an optional key for efficient retrieval, a binary data payload up to 64 MB in size, and a timestamp derived from the block in which it’s embedded.
This preview release of MultiChain 2.0, numbered alpha 1, takes streams functionality to a whole new level:
- JSON items. As an optional alternative to raw binary data, stream items can now contain any JSON structure, which is stored on the blockchain in the efficient UBJSON serialization format. Since the MultiChain API already uses JSON throughout, these JSON structures can be read and written in a natural and obvious way.
- Text items. Stream items may also contain Unicode text, stored efficiently on the blockchain in UTF-8 encoding. Text items can also be read and written directly via the MultiChain API.
- Multiple keys. Each stream item can now have multiple keys instead of only one. This enables much more flexible schemes for tagging, indexing and retrieval.
- Multiple items per transaction. Multiple items can now be written to the same stream in a single atomic transaction. This allows multiple stream items to: (a) be naturally grouped together under a single transaction ID, (b) take up less space on the blockchain and (c) require fewer signature verifications.
- JSON merging. There are new APIs to summarize the items in a stream with a particular key or publisher. The first type of summary offered is a merge of all of the JSON objects in those items. The outcome of the merge is a new object containing all the JSON keys from the individual objects, where the value corresponding to each JSON key is taken from the last item in which that key appears. The merge can be customized in various ways, e.g. to control whether sub-objects are merged recursively and if null values should be included.
The purpose of JSON merging is to enable a stream to serve as a flexible database for applications built on MultiChain, with the stream key or publisher (as appropriate) acting as a “primary key” for each database entry. The advantage over a regular database is that the stream contains a fully signed and timestamped history of how each entry was changed over time, with the blockchain securing this history immutably through multiparty consensus.
As in previous versions, each node can freely decide which streams to subscribe to, or can subscribe to all streams automatically. If a node is subscribed to a stream, it indexes that stream’s content in real time, allowing efficient retrieval by publisher, key, block, timestamp or position – and now summarization by key or publisher.
Aside from stream items, MultiChain 2.0 alpha 1 also supports JSON and text in raw transaction metadata, as alternatives to the raw binary data supported in MultiChain 1.0.
Finally, this release allows the custom fields of issued assets and created streams to contain any JSON object, instead of the text-only key/value pairs offered in MultiChain 1.0. For forwards compatibility, MultiChain 1.0.2 includes the ability to read (but not write) these richer asset and stream custom fields.
To try out these new features, visit the MultiChain 2.0 preview releases page and download alpha 1. The page also provides detailed documentation on the new APIs and parameters available.
We’d love to hear your feedback on this new functionality. And of course we’re already hard at work on the next major set of enhancements for MultiChain 2.0, scheduled for release early next year.
Please post any comments on LinkedIn.
Bitcoin Price Prediction: BTC/USD Creeps Towards $10,600 Following Rejection at $10,847
Bitcoin (BTC) Price Prediction – September 30
The Bitcoin price is trading above $10,700 against USD and the coin is likely to climb steadily with a few downward moves.
BTC/USD Long-term Trend: Bullish (Daily Chart)
Resistance Levels: $11,600, $11,800, $12,000
Support Levels: $10,000, $9,800, $9,600
It is safe to say that Bitcoin has been turbulent in recent days, after tight trading for a few weeks with relatively low volatility. A few days ago (September 24), the Bitcoin price rose sharply by moving above the resistance levels of $10,500 and $10,700 against the US dollar. At the moment, the price is declining and is moving close to the 9-day and 21-day moving averages at $10,755.
What is the Next Direction for Bitcoin?
A crucial uptrend could probably form if the coin remains above the moving averages, with support close to $10,500 on the daily chart. However, if the decline occurs below the moving averages, the price could extend its downward correction to the lower boundary of the channel and any other loss could possibly push the price of Bitcoin to the support level of $10,200.
More so, a further sell may cause the market to reach the critical supports at $10,000, $9,800, and $9,600. In other words, if the market were to rebound, traders could see the next buying pressure towards the resistance levels of $11,600, $11,800 and $12,000 with the technical indicator RSI (14) remains below average.
BTC/USD Medium-Term Trend: Bullish (4H Chart)
Looking at the 4-hour chart, Bitcoin’s price is currently trading around $10,758 and above the 9-day moving average after a reversal from $10,681. Meanwhile, traders can see that the bullish supply is becoming steady in the market while the bears are also trying to drag the price down.
However, if the buyers can strengthen and energize the market, they can further push the price to a $10,900 resistance level. Therefore, breaking the mentioned resistance could also allow the bulls to test the $10,950 and above. Inversely, the RSI (14) is currently moving around 52-level, turning down may cause the bears to step back which could drag the price to the support level of $10,550 and below.
Bermuda grants Bittrex DABA license to commence local operations
The island nation of Bermuda is in the news today after it gave U.S-based cryptocurrency exchange, Bittrex, a Class F (“Full’’) Digital Assets Business Act license that will allow the platform to operate under the supervision of the Bermuda Monetary Authority (BMA). According to Bittrex Global CEO Tom Albright, Bittrex (Bermuda) will provide additional digital asset services like Futures, in particular, based on further approvals by the BMA.
Bermuda’s Digital Assets Business Act of 2018 (DABA) is a comprehensive regulatory framework that oversees crypto-financial services, including digital asset issuance, sale and redemption, exchange operations, and custodial services.
However, Bittrex is not the first entity to receive Bermuda’s DABA license since Circle was the first major crypto-company to receive Bermuda’s Class F DABA license. Meanwhile, the island nation had also struck a $15 million investment deal with Binance in the past. These developments are a sign of how the island nation has been keen to adopt cryptocurrency and blockchain tech over the past few months and years.
Like Bermuda, many governments across several nations have only now begun to study the use cases of cryptocurrencies and blockchain. However, Bermuda was one of the first sovereign nations to accept payments in USDC stablecoins for tax payments, fees, and other government services.
In fact, in 2019, Bermuda also announced the development of its blockchain-based digital ID system, followed by a stimulus token that allowed the distribution of financial aid to its population. The token project in question was actually accelerated after the outbreak of the COVID-19 pandemic for people in need of emergency funds.
President Maduro: Venezuela Seeks Opportunities To Use Cryptocurrency For Global Trade
- Venezuela’s cryptocurrency story continues as the country’s President Nicolas Maduro has presented new use cases.
- A recent report informed that the South American nation is studying the possibility of using digital assets in trades alongside the national Petro.
- President Maduro has presented new anti-sanctions law in the Constituent National Assembly. In a recent speech, he asserted:
“The anti-sanctions law is the first response to give new strength to the use of petro and other cryptocurrencies, national and global, in domestic and foreign trade, so that all cryptocurrencies of the world, state and private, could be used. This is an important project that is under development.”
- The news comes after Maduro suggested last year that his country could adopt cryptocurrency payments.
- Additionally, Venezuela signed a new tax agreement this summer that enabled the nation to start collecting taxes and fees in the Petro.
- A study reported by CryptoPotato revealed that digital assets already play an essential role in the country’s struggling economy. Venezuela’s intensifying financial crisis has catalyzed significant interest in cryptocurrencies as people seek opportunities to escape the devaluating national currency.
- The Bitcoin peer-to-peer volume exemplifies the growing interest in the primary cryptocurrency within the country. As per data from coin.dance, the BTC P2P volume on LocalBitcoins has been continuously surging in the past several months.
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