Blockchain As A Service (BaaS)

According to Investopedia, “Blockchain-as-a-service (BaaS) is the third-party creation and management of cloud-based networks for companies in the business of building blockchain applications. These third-party services are a relatively new development in the growing field of blockchain technology. The application of blockchain technology has moved well beyond its best-known use in cryptocurrency transactions and has broadened to address secure transactions of all kinds. As a result, there is a demand for hosting services.”

Both companies and individuals are ready to implement blockchain technology. However, technical complexities in the creation, operation, and maintenance of the blockchain infrastructure act as obstacles to its mass adoption. Blockchain as a service offers solutions to remove companies from new barriers.

Features of Blockchain-as-a-Service (BaaS)
Blockchain-as-a-Service includes the following features:

  • Platform architecture management
  • modular, preconfigured networks and infrastructure
  • Easy setup workflow
  • Middle-ware for monitoring & development for app building
  • Dashboard to view and analyze chain code
  • Auditable transaction record
  • Built-in connections to needed services
  • Professional and consultant

How do BaaS work?

BaaS is based on the Software as a Service (SaaS) model and works similarly. It allows customers to manage their blockchain applications and other functions on blockchain. At the same time, the cloud service provider keeps infrastructure agile and operational.

When a customer signs up for Blockchain as a service contract with an IT partner, they enter into a contract whereby the BaaS partner agrees to provide the customer with all necessary Blockchain technology and infrastructure for the service fee defined in the contract. Blockchain as a service partner uses key resources and the necessary technology and infrastructure to set up and maintain nodes associated with Blockchain on behalf of the customer. The BaaS partner can configure the Blockchain network on any distributed books such as Ethereum, Bitcoin, Hyperledger Fabric, R3 Corda, Quorum, Chain Core, or BlockApps.

BaaS takes responsibility for maintaining all critical artifacts associated with the Blockchain and maintaining the infrastructure. BaaS contracts also include support activities such as bandwidth management, resource optimization, incident management, system health monitoring, as well as proactive security surveillance such as hacking attempt prevention. Using Blockchain as a service model, customers can focus on their core business and competition strategies, while counting on the BaaS partner to manage the Blockchain infrastructure and its performance.

What are the criteria to select a Baas as a partner?

You do not need to select a service provider based on the availability of the protocol from the cloud service provider. It is right to think about what comes after the basic installation, including the configuration.

Some blockchain companies that are companies with a distributed application (Dapp) call their services BaaS because the user can use their application immediately. Here BaaS refers to hosting solutions for leading business protocols.

There can be many criteria, and what to focus on when choosing a BaaS partner is:

  • Previous experience in setting up Blockchain infrastructure/credentials for the market
  • Commitment to quality
  • Security assurance
  • Choice of operating systems
  • Ease of use
  • Prices and support

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Global Professional Consultancy Services Firm providing an array of specialized services to clients from all around the world. https://empireglobal.partners/

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Empire Global

Empire Global

Global Professional Consultancy Services Firm providing an array of specialized services to clients from all around the world. https://empireglobal.partners/

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