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Blockchain as a Service (BaaS) - a Solution for Business
Today, software products in most cases are no longer perceived as a commodity. The concept of how the market works is changing and more and more we are talking about software in conjunction with the concept of "service". In fact, blockchain is no exception. In this article, we will consider the "blockchain as a service" solution, or BaaS, which is often mentioned in the cryptocurrency environment.
- BLOCKCHAIN AS A SERVICE: WHAT IS IT?
BaaS, or blockchain as a service, is a solution that allows any user to create, manage and use their own applications and smart contracts through cloud services. All necessary operations to keep the blockchain up and running and flexible are performed by the provider who enables the use of the system.
In essence, in simple terms, blockchain as a service is the leasing of a blockchain to users for the implementation of their projects. BaaS functions similarly to the concept of SaaS (software as a service), which has been around for a long time, but has only recently become prominent.
- HOW DOES BAAS WORK?
If we return to the concept of "software as a service", which is more understandable to most, we have all been using such solutions for a long time. Many do not even realize it. Mail, such as Gmail, can be considered the most mainstream SaaS system. If we consider self-configuration of e-mail from scratch, the procedure is as follows:
Setting up the server.
Installation of specialized software.
Installing and configuring the mail client.
Maintaining the mail during the whole period of its existence.
This method is quite labor-intensive and requires a lot of resources and time from the performer. Some very large corporations and enterprises are still using such emails, but the majority of users exclusively use web services. They are the very same SaaS.
Similar is the concept of BaaS, only in its case we don't create our own blockchain, we just use a ready-made solution through special clients and interfaces.
- ADVANTAGES OF BAAS
Simplicity. You do not need to run your own blockchain to use its possibilities.
Availability. The process of connecting to third-party blockchains is reduced to writing a ToR for the provider and paying for the services.
Variability. You have the right to require the provider to create the necessary technical conditions for the implementation of a particular solution.
- DISADVANTAGES OF BAAS
No owner's rights. The provider is still the owner of the product, so you can't control its work.
Fees. You often have to pay to use blockchain as a service.
Thus, blockchain as a service is a real opportunity to integrate new technologies into your own business. You don't have to worry about running your own network, maintaining it, etc.
