Multichain with Monax

Question

Is there any way to carry out transactions on multichain blockchain (like credit/debit) based on conditions evaluated in a smart contract? Like smart contract triggers the transactions in multichain based on a condition ?

Answer 1

In general, MultiChain is not (yet) a smart contracting platform, where you can define arbitrary rules for one thing to be triggered after another. But if you want to provide more details of your use case, either here or (if you prefer) privately via the contact form, we'll be happy to see if you can do the same in MultiChain using assets, multisignatures and streams.

Comments

Hello,

Can we store a bytecode (for example java .class) on multichain's stream ? In this way, it would do the same thing as Monax's smart contracts, don't you think so ?

---

You can of course store any data you want in a MultiChain stream, but the bytecode itself would have to be executed by your application, not by MultiChain itself.

---

Okay, I want to save, for example, Java compiled code(.class file bytecode), How can I store it on multichain? I understand that I should convert it to hex string but I am not able to get how to convert it!
AND
Is there any other way to store the .class file on stream?

---

It depends on the programming language you are using, but if you Google 'convert file to hex' with that programming language name, you should find lots of suggestions.

---

Hello, I want to implement this scenario but not able to get the right way.

Consider there is enterprise E and client C. E tells C to do something and for that C would get paid. But how is C sure that E pays him ? Can we use multichain here ?

I have following idea:
E transfers the asset to the Secret account from which he cannot withdraw. C's action is automatically monitored and triggers an alarm if he does what he is asked for. Based on that, the money from the secret account is transferred to C's account.

How do I implement this secret account which is not bounded by E's or C's malicious intent?

Is there any better way you can suggest in such scenario?

---

You can use a 2-of-3 multisignature to create an escrow relationship between C and E, whereby if C and E agree, they can make the payment themselves, but if they disagree, then a third party can decide where the money goes. This third party will be the one responsible for monitoring whether the action took place. There is no way for a blockchain itself to be able to monitor the outside world – instead, one or more parties needs to take responsibility for telling the blockchain what happened.

---

Okay, I understood.

To start with, I first want to create 2/2 multisig address and carry a transaction.
Could you please guide me with the tutorial ?

---

Please see: https://www.multichain.com/developers/multisignature-transactions/