What is Blockchain and Blockchain-as-a-Service (BaaS) Including BaaS Solution Providers
Blockchain being a nascent technology is there to disrupt the traditional IT ecosystem with some improved offerings. Here, people are curious to know, access and implement this widely effective technology to gain some amazing results. Likewise, any other new technology it has its own limitations and one of them is cost-effectiveness. Here, companies are supposed to spend huge sums to have access to this effective technology. To deal with this issue, Blockchain-as-a-Service or BaaS comes as a better solution. Using BaaS solution, you can have access to blockchain technology without the cost or risk of deploying it in-house.
What is Blockchain?
The distributed ledger technology, widely known as Blockchain is poised to change the IT arena in similar fashion the open-source software did a few decades ago. Here, this smart technology display the potential to help you eliminate the need of record-keeping in huge amounts to save admin cost and reduce manual intervention.It offers a whole new paradigm to change the way information is shared and distributed by extending digital transformation beyond the company’s walls.
This peer-to-peer (P2P) technology is technically a data structure that helps you create a digital transaction ledger by sharing information among a distributed network of systems reducing dependency on a single provider. The visible benefit of this technology is more open, verifiable and transparent system that offers smooth and fast transactions to exchange value and assets. Further, you can use this technology as a secure and transparent way to enforce smart contracts and share data.
What is Blockchain-as-a-Service (BaaS)?
Blockchain-as-a-Service is an enterprise service or solution that is offered by different IT & cloud service providers. Here, it is meant for those companies or enterprises that could not afford or don’t want to take on the expenses that are required to build new blockchain architecture that also needs deployment of new developers to run and maintain it. Further, BaaS offerings are particularly attractive and useful due to easy and instant access to this beneficial technology without being Pro to it. To access BaaS solution you need to consult with your cloud providers who also act as a consultant on the BaaS technology.
Big Players Offering BaaS
To access benefits of blockchain technology you would require to set up an environment to research and test it. Under blockchain, multiple systems would be deployed to develop test & research that may attract huge investment and manpower. To deal with this issue, you can move to BaaS as an affordable solution. Here, you will get the blockchain ecosystem without the need of spending huge sums on building new blockchain architecture or deploy workforce.
Knowing the benefits of offering blockchain services in the cloud many big players from the IT and cloud industry have got into the league to offer BaaS solution to their clients. Here, these big players are offering working blockchain ecosystem without the need of configuring or setting up blockchain hardware at client’s place. Some of these players include:
Microsoft is one of the early software vendors that offered BaaS in 2015. Here, it has partnered with ConsenSys to offer Ethereum Blockchain as a Service or ETHBaaS on Microsoft Azure to their clients. It is open to various blockchain protocols including Unspent Transaction Output-based Protocols (UTXO) like Hyperledger, Smart Contract-based Protocols like Ethereum and many more.
IBM has partnered with Linux Foundation’s open-source Hyperledger Project to offer BaaS (Bluemix) to their clients. Here, IBM has offered 44,000 lines of code to help developers to build secure distributed ledgers to exchange anything of value with ease and comfort.
Amazon is another player in the industry that has collaborated with Digital Currency Group to offer single-click cloud-based blockchain developer ecosystem. It is designed to help rapid development of smart contracts.
Knowing the fact, blockchain is there to exist, offering Blockchain-as-a-Service is a wise decision by big players. Here, it will not only reduce the cost of developing blockchain ecosystem but it will also help companies improve their functionality to a greater extent by using easy to access BaaS solutions. Despite the fact, there are many big BaaS solution providers from the IT industry still there is large scope to improve the services, cost, and accessibility to common users.
Are you finally ready to optimize your website? Ready to create a user-friendly website that can dramatically increase your sales? Then, you must have already gone through all the amazing A/B testing tools available in the market. You know the UX A/B testing software market wasn’t that crowded a few years back. There were only […]
Are you running an online store? Then, dispatching items, tracking deliveries, taking returns, and managing stock must give you a terrible migraine. But, not anymore! With the best warehouse management software in 2021, you can efficiently manage all warehouse operations with ease. WMS software will reduce manual labor and improve customer services in no time. […]
Are you an architect, interior designer, or just a hobbyist? You need 3D architecture software to conceptualize your building or home design ideas. Plus, do you know how quick and accurate models you can create with 3D printing? If not, let us help you find the best architecture design software in 2021. With the right […]
Billing and invoicing is a hard business. Creating invoices, sending them, and following up on unpaid bills can take up a lot of time. On the top, recurring bills and invoices can definitely lose you money without even realizing it. Billing and invoicing software are the perfect alternatives to your old accounting system. Using billing […]
Accounting is a very broad spectrum revolving around numerous financial operations. Accounts payable management is one of the crucial accounting operations to maintain a proper cash flow system. AP teams processes, records, and ensure to pay vendors on time. The accounts payable software can fully automate manual data entry work. Additionally, AP software helps with […]
Whether you are a solopreneur or a corporate leader, undoubtedly, you need the best payroll management software to smoothly run your business. HR payroll software helps in saving time, efforts and keeping your staff happy. Plus, payroll software ensures that you meet all the tax compliance. If you haven’t yet selected the suitable payroll software […]
Health is Wealth — we all know that! Unfortunately, not many people still pay attention to their medication and take their prescribed pills on time. Often work schedules and home chores take all your attention that you don’t remember to take your medicines on time. If that always happens with you, technology has invented a […]
Now that your iPhone storage is almost full and the easiest way to free up some space is to move your large files from iPhone to your Mac. Videos occupy fair share of total storage space and it is wise to move these large files to your Mac so that you give your iOS device […]
Today, you can open Spotify or iTunes apps anytime on your phone and listen to unlimited music. But, if you want a full listing experience, your good old radio is the best option. For some witty talks, meaningful entertainment, and lighthearted programs, online radio stations are the right place. It doesn’t matter where you are […]
The tech industry has taken pole position in the latest the MBA Career Services & Employer Alliance survey, with the industry seeing the largest increase in full-time job postings in business schools in the autumn of 2020. During a difficult time for both job hunters and entrepreneurs, says MBA Atch, tech ‘is the silver lining’, with various […]