Blockchain as a service (Baas)
Blockchain is digital information stored in a public database (chain).
These ‘blocks’ are digital pieces of information which store information about who is participating in the transaction, store information about the transactions date, time and amount and store information which distinguishes them from other blocks.Each block stores a unique code called hash which help differentiate them from other blocks. For a block (hash) to be added to the blockchain,transactions must occur, transaction must be verified, transaction must be stored in a block and the block should be assigned a name. When the block is added to the blockchain, it becomes publically available for everyone to see.
Blockchain as a service (Baas) is an offering that allows customers to leverage cloud based solutions to host , build and use their own blockchain apps, smart contracts and functions on the blockchain while cloud based service provide managers all the necessary activities to keep infrastructure agile and operational. Individuals and business are increasingly willing to adopt blockchain technology. There are complexities involved in maintaining its infrastructure, configuring and operating the blockchain.These complexities are solved through the blockchain as a service model.
Blockchain as a service (Baas) is when external service providers sets up all the necessary blockchain technology and infrastructure for a customer at a fee. Baas providers are paid to provide and maintain the blockchain on their behalf. The Baas providers handle complex back-end for the business and the client.
The Baas providers keep all the important blockchain related artifacts , the infrastructure up and running.They do resource allocation, provide the hosting requirements, bandwidth management, provide security and prevent hacking.
Through this Baas model, the client would focus on their core job functionality of their blockchains instead of worrying about performance and infrastructure of the blockchain.Baas model work like the web hosting providers in that you build a fantastic website and look for a hassle-free option for you to host your web on external web hosting provider e.g Amazon Web services to take care of infrastructure and maintenance services. From Trendpro Systems Ltd