We have seen exponential growth in the SaaS (Software as a Service) business model and thus Blockchain as a Service (BaaS) model does make a lot of sense in today’s world. But, with the case of Blockchain, how can someone provide it as a service model? Let’s understand!
With the BaaS model, organizations allow their users (or other companies) to host their blockchain applications, run smart contracts and other blockchain-based services on their cloud-based blockchain infrastructure.
The inception of such a BaaS model is a significant leap in the technology community. It does promise the accelerated development of blockchain-based projects and helps smaller companies and developers build their blockchain projects without investing a whole lot of money into building infrastructure which can run blockchain and building blockchain programs from scratch.
Read more: Blockchain use cases in real-world!
When a blockchain-based product gets deployed into the system, all the connected nodes need to stay connected. On top of that, the infrastructure running the services also needs maintenance and set up costs to keep it running. For hassle-free operation, going with SaaS like a model. Plus, keeping the servers safe from the external hacking activity is also a huge issue and requires dedicated resources to keep it safe.
Microsoft, Amazon, R3, SAP, Alibaba clouds and more are offering platforms for deploying your Blockchain-based applications.
For choosing a good BaaS platform, you need to keep some of the things in the mind are cost-reduction, data-security, scalability and data flow. With proper selection of BaaS platform, your deployment will become faster and better.
So, in a nutshell, Blockchain as a Service would help to deploy and develop better blockchain-based applications and scalable products to even smaller startups.