Blockchain technology and application development based on Blockchain are highly complex and require valuable resources. Skills and effort input are also significant for developing targeted applications. In an effort to make the Blockchain platform more available, Blockchain as a Service or the BaaS model emerged. Blockchain-as-a-Service enables DLT or distributed ledger readily available for businesses. BaaS is a combination of cutting edge cloud computing power, IoT network, decentralization of Blockchain, cost and overheads reduction that enables individuals to launch their own Blockchain-based applications with more global transparency and security.
What is Blockchain-as-a-Service (BaaS)?
Blockchain as a Service is essentially an amalgamation of Blockchain or DLT technology and next-generation cloud computing methodology. BaaS gave rise to solutions like Blockchain API platform and Blockchain API SaaS. Enterprises and IT conglomerates that are willing to move core business systems to Blockchain platform can effortlessly perform offshore the task to Blockchain as a Service provider agency.
The following table sums up which various aspects of Blockchain and cloud technology infuse to set up a successful Blockchain-as-a-Service business model:
|Blockchain Technology Aspects||Cloud Technology Aspects|
|1||Applications||Blockchain Setup Architecture|
|2||Smart Contracts||Development Platform (SDKs)|
|3||Nodes||Resources and Maintenance|
|4||Distributed Ledgers||Information Security|
Thus, BaaS represents the delivery of an on-demand Blockchain platform that is built on Blockchain core features hosted on cloud computing infrastructure. All the components of this ecosystem, namely the Blockchain as a Service provider, subscriber, developer, and the consumer, enjoy multi-dimensional advantages.
How to Hand-Pick the Right Blockchain as a Service or Blockchain Platform for Targeted Development?
When you need to choose a perfect BaaS or Blockchain API product or Blockchain API open source, research well and concentrate on the following features:
1. Instant Blockchain Provisioning
The Blockchain platform service provider should be able to provision Blockchain networking rapidly, without any issues that could waste any lead time.
2. Professional and Expert Technical or Backend Support
BaaS enablers need to offer backend customer support or technical assistance that relates to the usability of the cloud provisioning of the Blockchain development platform.
3. Identity Management Solution
Look for the Blockchain-as-a-Service provider which integrates Identity and Access Management (IAM). It will ensure that only authorized (has permissions) and authenticated (signed in) personnel have access to the Blockchain API platform or the end product.
4. AI-Based Smart Contract Protocol
The Blockchain as a Service offering should come with an integrated Smart Contract Protocol, which will automatically control, execute, and document legally acceptable DLT inputs according to the agreement or contract terms.
5. Privacy Protection
Always opt for permissioned Blockchains when signing a contract with a BaaS agency to ensure proper privacy of the targeted Blockchain development project.
6. Blockchain Infrastructure Explorer and Monitoring Tools
Blockchain as a Service essentially gives you access to virtual Blockchain development infrastructure. In such an environment, you will need to monitor and explore resource statistics from time to time during a targeted development project.
7. Innovation & Upgrade Capabilities
The Blockchain-as-a-Service provider should be open to innovate and upgrade the existing Blockchain infrastructure as the technology evolves. You need to ensure that your team is working on the latest technology for Blockchain development.
8. Community Forums
A global standard BaaS provider should be interested in and capable of maintaining community forums. Within the forum, many Blockchain developers and implementers will interact to come up with the latest methodologies and resolutions to project obstacles.
9. Company Portfolio
Look for a reputable Blockchain-as-a-Service providing agency with a prominent and profitable client base.
10. Supports Versatile Runtimes and Frameworks
Blockchain as a Service provider should be able to offer you a Blockchain platform that supports different frameworks and runtimes. The end product of your Blockchain development project should support many platforms, making it more flexible and scalable.
Dappros Blockchain platform is a user-friendly Blockchain-as-a-Service that is Ethereum Blockchain hosted on the cloud. It is one of the best BaaS, which complies with all the above-mentioned considerations.
Also, check out our Best Top Ten Blockchain as a Service & Their Comparison in this article.