Blockchain as a Service Part 2
Blockchain as a Service is a unique model that allows consumers to use the cloud-based services to develop, use and host their blockchain apps, functions and smart contracts. In a nutshell, they provide full-fledged blockchain platforms that ease the development process.
Blockchain as a service companies act as a bridge between enterprise companies and enterprise blockchain platforms.
Though these platforms provide a generalized version of the blockchain technology, not all organizations can integrate them into their business solutions.
Some enterprises might require privacy; some might not. Using the platform to build blockchain solutions with their own development team could not be an ideal solution.
Developers who have never worked with blockchain technology or platforms may leave a lot of security holes, and in return, it will harm the company itself. You should always approach blockchain experts before planning to implement blockchain within the business ecosystem.
How Does BaaS Work?
Blockchain as a Service works in a simple way. The BaaS providers set up the blockchain implementation, but you have to give them a certain fee to deploy and maintain the blockchain nodes.
Moreover, the blockchain as a service providers have to manage the back-end services, specifically the complicated services for clients and businesses. It is their responsibility to look after the crucial blockchain technology artifacts and keep them running without any downtimes.
Blockchain services also include hosting requirements and security protocols like distribution of resources, anti-hack layering, bandwidth management and much more.
How to Choose the Right BaaS Platform?
Before you go ahead into Blockchain as a Service integration, you should know which provider can provide you with the right type of solution.
Following are some of the factors that can help you choose the right BaaS Platform:
Basic Features
Backend Services
Every enterprise has its unique needs for backend services. Building the oracles for integration is an obstacle for companies. Therefore, blockchain as a service providers have to provide backend services like mainstream technologies and integrating popular services.
Enterprises should have at least some of the followings from the BaaS providers.
Data Security:
It is a basic and necessary requirement to ensure that application and user data stays within the boundaries of the platform and is not vulnerable to risks.
Costing Control:
SaaS platforms come with a subscription instead of a one-time license. But BaaS is not based on any such costing model. They offer cost-effective solutions. But you need to check whether the costing includes hidden expenses or not.
Integration:
Enterprises run on network layering that should contain multiple layers of processes, workflows and data sources. Also, the back-end services should be able to integrate into the architecture. Therefore, it supports many applications without modifying the old legacy network.
Process Control:
A scalable environment is essential for every application as it needs to maintain the original performance at all times. Moreover, the environment should have a guard mechanism that can control hacks, data flows, active monitoring tools, computing resources and so on.
Rapid Provisioning
Rapid provisioning provides the ability to deploy blockchain networks quickly without any issues. Blockchain as a Service companies have to deal with a lot of pressure to install, deploy and manage the environment quickly.
Also, the environment requires additional support; however, the variation of browsers, firewalls, database, hardware and applications servers make it complicated to achieve.
Smart Contract
You would require a smart contract mechanism to integrate business logic into your blockchain solution. Smart contracts don’t only include the rules like typical contracts, but also enforce penalties in case any party breaks the rules.
Since the platforms are immutable, it makes the testing and deployment of smart contracts quite complicated for developers. Ensure that the blockchain as a service company provides you the smart contract integration with the deployment.
Why do you Require Blockchain as a Service Framework?
Flexible and Efficient
The best part of using a Blockchain as a Service Platform is that it offers a wide array of consensus mechanisms. Such consensus algorithms can provide the required flexibility in your business ecosystem. It is the reason why various BaaS solutions can provide 5000 transactions per second.
Furthermore, other tools like dynamic joining, physical resource management and switching protocols are offered by BaaS providers to make the solutions efficient.
Open and Easy
Blockchain as a Service framework provides an easy solution to your complex deployment. Building a blockchain solution is not a simple task. One mistake can make the system incapable of performing its operations.
However, BaaS framework allows you to deploy new networks every minute as they are simple to deploy and will not take more than minutes to get started.
Privacy Protection and Security
With Blockchain as a Service Framework, you can manage permission levels, nodes and keys from one single control panel. Every BaaS provider offers the control panel for easy access.
The cybersecurity in such solutions is exceptional as they don’t allow any internal or external fraudulent activity happen.
Cost-Effective
The blockchain as a service costs comparatively lower than building a blockchain app from scratch. Using the BaaS platforms, you can use the features you require. Therefore, it costs you for the features you are using, not for the entire framework. Also, it does not have any hidden costs.
The YAO Network’s project aim is to meet the growing demand for blockchain applications. YAO Network is a new generation of public infrastructure platform, working as an ecosystem entry, a computation hub and a service market for blockchain communities. The goal is to build an open blockchain infrastructure platform, based on which the tech communities and developers can serve the commercial application better, creating triple-win outcomes.
