Blockchain requires extensive backend knowledge because it is a distributed ledger system. It requires dedicated efforts to keep the remote nodes operational and in sync by managing the underlying server, a network of systems. Because of the volume of processes and integrations, the deployment is difficult and complex.
BaaS as a solution
Blockchain as a Service (BaaS) enables companies to utilise cloud-based solutions to create, host, and adopt their own blockchain applications, smart contracts, and other pertinent blockchain-based features while the cloud-based IT partner or service provider manages all required tasks and activities to keep the infrastructure operational.
The launch of BaaS is a big advancement and key milestone in the blockchain field with the potential to speed up the adoption of distributed ledger technology across industries. The concept is founded on and runs on engagement concepts comparable to software as a service (SaaS) principles.
Similar to the growing trend of using Software-as-a-Service (SaaS), where access to the software is provided on a subscription basis, BaaS gives businesses access to a blockchain network in the desired configuration without the need for the business to develop their own Blockchain and develop in-house expertise for the same.
How does BaaS function?
A client effectively gets into an agreement with a Blockchain as a Service (BaaS) provider when they subscribe to one, whereby the BaaS provider commits to build up all of the necessary Blockchain infrastructure for the client in exchange for a service fee. The BaaS provider makes use of the required infrastructure and technologies to set up and administer Blockchain linked nodes for the customer.
According to the requirements of the customer, the BaaS partner configures the Blockchain network on any distributed ledger, including Ethereum, Bitcoin, Hyperledger Fabric, R3 Corda, and Quorum. The BaaS provider is responsible for maintaining the infrastructure and all necessary Blockchain-related artefacts. The services also include proactive security monitoring, such as stopping hacking attempts, as well as support duties including bandwidth management, resource optimization, incident management, and system health monitoring.
Clients that use the Blockchain as a Service model can concentrate on their core operations and competitive strategies while leaving the management of the Blockchain infrastructure and its performance to the BaaS provider. It enables them to operate distributed-ledger workloads in settings requiring the highest level of fault tolerance.
Key Feature of BaaS
- Simple method for setup
- Networks and infrastructure that are preset and modular
- Administration and management of platform architecture
- Middleware for app development and monitoring
- Dashboard for monitoring and analysis of Smart Contracts
- Verifiable transaction history
Leading BaaS providers
- Oracle – Oracle Blockchain Platform (OBP) A speedy approach to deploying the blockchain-based network. Based on the Hyperledger Fabric platform, it provides fully managed and preassembled blockchain services. It enables users to link locally installed Hyperledger fabric nodes with the cloud service. It is a blockchain system created for the enterprise, with built-in backup, improved security, role-based identity management, and certificate revocation management among its enterprise-level features. Using REST API and API management services, Oracle Blockchain allows API-driven development for cloud or on-premises apps. Using large logs, real-time monitoring dashboards, and ledger browsers, businesses can quickly discover and fix problems.
- IBM A significant contributor to Hyperledger, one of the leading blockchain platforms in the market, which gives developers improved tools for quicker development, including a variety of industry-specific use case templates to get started with, a special modelling language, and a web-based developer environment. The IBM Blockchain Platform is widely accessible via the cloud and in any location to fulfil your business’ demands, particularly those related to data sovereignty. It is a fully integrated, enterprise-ready blockchain platform made to aid in the running of a multi-institution business network and expedite corporate development.
- AWS By providing two types to use blockchain as decentralized (Amazon Managed Blockchain) or controlled systems (Amazon Quantum Ledger Database), while preserving the idea of an immutable ledger at the core, this approach to BaaS with blockchain is unusual. A completely managed ledger database service in the cloud is called Amazon Quantum Ledger Database. It offers a transaction record that is immutable, transparent, and cryptographically verifiable that is controlled by a central authority over the business model. The building and operation of scalable blockchain networks are made easier by the fully managed cloud solution known as Amazon Managed Blockchain. The well-known open-source frameworks Ethereum and Hyperledger Fabric are used to do this.
- Microsoft Azure Offers a variety of open source blockchain platforms to pick from that may be hosted in the cloud along with extra tools for creating related solutions. It allows you to create blockchain networks are based on Corda, Ethereum, and Hyperledger Fabric. Customers can automatically create online and mobile (iOS, Android) client applications that can be used to validate, test, and view blockchain applications.
- SAP For problems that affect a larger industry, it offers an integrated set of instruments. It provides a comprehensive range of tools with outstanding outcomes for issues affecting a wider sector. Additionally, providing Blockchain systems as a BaaS to customers on platforms like Hyperledger Fabric, Quorum, and Multichain Using SAP’s low-cost, low risk blockchain solution, businesses may experiment with and adapt the technology, incorporating it into their SAP landscapes.
- Kaladio Kaleido is an award-winning, enterprise-grade, SaaS platform making blockchain and digital assets radically simple for organizations to adopt. Kaleido makes it easy to build multi-region, multi-cloud blockchain networks on protocols including Ethereum, Hyperledger Fabric, Quorum, Hyperledger Besu and Corda.
- Zeeve Zeeve is a Blockchain Management platform that provides no-code deployments and monitoring of Blockchain DApps and networks.
- SettleMint The most powerful high-performance blockchain development platform, to rapidly build & deploy Web3 services with a low-code, user-friendly interface.
- Chainstack Chainstack provides managed blockchain services that make it simple for developers to launch and scale decentralized networks and applications.