Home > Blog > Blockchain as a Service (BaaS) - A Complete Guide for Beginners 2021

Blockchain as a Service (BaaS) - A Complete Guide for Beginners 2021

Blockchain as a Service (BaaS) - A Complete Guide for Beginners 2021

Blockchain as a Service (BaaS) - Blockchain

Blockchain as a Service (BaaS) is expected to play a major role in Information Technology (IT) in the coming years, there is no doubt about it. Blockchain as a Service has started to emerge exponentially because more companies now understand the benefits of blockchain technology. 

BaaS - Blockchain-as-a-Service providers like BlockchainAppsDeveloper, IBM, Microsoft Azure, and other big companies have discovered BaaS (Blockchain-as-a-Service) to develop blockchain implementation simpler for organizations and enterprises whose core competencies remain in the industries and fields other than IT. It definitely helps organizations and businesses focus more on their core confidential areas while not worrying about the development scope.

Blockchain as a Service is a promising offering that can help your organization seize competitive advantage and make your business future-ready, without having to make significant investments in research, planning, resources, and infrastructure. It also provides you with an opportunity to assume the role of a leader and pioneer among your peers in the industry. With the risks managed proactively, a trusted BaaS partner can help you take the next big technology leap.

What is Blockchain as a Service(BaaS)?

Blockchain as a Service (BaaS) is a blockchain service providing that permits customers to use cloud-based services to build, use and host their blockchain applications, operations, functions, and smart contracts.

BaaS - Blockchain as a Service includes a cloud-based service provider that manages and maintains tasks to keep the infrastructure operational & agile system. Blockchain as a Service holds the promise to speed up blockchain adoption across various businesses and enterprises. Businesses, Organizations, and individuals all are willing to implement blockchain-powered technology. But, the technical complexities in developing, operating, and managing the blockchain’s structured infrastructure perform as obstacles to its mass and significant adoption. BaaS - Blockchain as a Service provides services and solutions to relieve companies of the hurdles of the latest technology.

Key takeaways:

  • Blockchain-as-a-Service (BaaS) is third party cloud-based infrastructure and management that organizations and businesses use for developing and managing blockchain applications.

  • BaaS operates as a web host which executes an application’s backend.

  • Blockchain-as-a-Service performs as a catalyst that leads to mass adoption of blockchain technology.

Blockchain as a Service (BaaS) Features

  • Supports Multiple Blockchain Frameworks like Quorum, Corda, Hyperledger Fabric and Ethereum.

  • Platform architecture management

  • Modular, Preconfigured Networks and Infrastructure

  • Easy Setup workflow process

  • Dashboard to view and analyze chain code

  • Auditable Transaction Record

  • Smart Contracts Integration

  • IAM(Identity Access Management) Platforms

  • Built-in Consortium Management to manage users of the blockchain network.

  • Monitoring of blockchain data in real-time

  • AWS Key Management Service to secure Hyperledger Fabric’s CA (Certificate Authority).

  • To manage augmented ordering service

  • Get High Secured Business Process and Functionalities

  • Identity-based Consensus Mechanisms

  • Different Runtimes and Frameworks

How Does BaaS Blockchain Work?

A BaaS - Blockchain as a Service provider sets up and maintains the advanced blockchain technology and structured infrastructure for a client. A client pays some money or cost to the BaaS provider for setting up the technology and handling and maintaining blockchain-connected nodes on their behalf. 

A BaaS - Blockchain as a Service provider maintains the back-end for the client and their desired business. It is the highest responsibility of a BaaS (Blockchain-as-a-Service) operator to keep blockchain structured infrastructure running. 

A BaaS - Blockchain as a Service operator also takes care of the whole functionalities and activities like proper allocation of human resources, bandwidth management, and hosting needs and requirements. Using a BaaS - Blockchain as a Service model, clients can mainly focus more on their core operational areas and the functionality of their blockchain-connected areas without worrying about performance and infrastructure-oriented problems.

Why Do Businesses Need Blockchain as a Service (BaaS)?

IT companies and organizations across several industries are slowly increasing and exploring the strategic advantages of mass adopting Blockchain technology. 

However, the lack of domain expertise, inherent technical issues, and the operational overhead prices involved in building and executing the Blockchain, and managing the functionalities and infrastructure often force key decision-makers to go slow on adoption ideas. However, BaaS - Blcockahin as a Service is currently being viewed as a high potentially viable business solution to this issue.

Selecting the right and perfect BaaS Blockchain as a Service provider will give businesses access to skilled Blockchain application developers, process and governance experts as well as the entire cloud structured infrastructure for blockchain development and deployment, without having to worry about startup, enterprises, and overhead prices.

Also, a reputed BaaS Blockchain as a Service partner in most cases is a rich source of practical experience and potential wisdom, which can be leveraged to develop the entire systems more secure and safe manner. It significantly controls the number of risk zones which one would have to deal with had it been designed and developed in-house business projects.

Simply, BaaS - blockchain-as-a-service provider is similar to a web hosting provider.

You can build creative websites that get millions of hits each and every day, a host that mentioned website on your server, and manages the whole maintenance work yourself or by hiring human resources, that's a one way. Another way is to host your desired website on any kind of web hosting provider like Amazon Web Services/Azure and let them handle all maintenance and infrastructure problems. Blockchain as a Service - BaaS works similar to the second method, thereby relieving you from the burden of maintaining and managing the infrastructure of blockchain applications.

Use cases of Blockchain as a Service(BaaS) for Business

Document Tracking – Blockchain technology provides a distributed, immutable document tracking system. By keeping the documents on a blockchain network, all the users are given equal access to the information or data. In addition to that, blockchain technology is immutable, thus ensuring that the documents are highly secured.

Data Storage – With the information or data stored in the decentralized blockchain network, the amount of information loss risk is decreased by manifold. The regulated industries like real estate, healthcare, etc benefit a lot from this immutable system, secure facility of information storage on the blockchain network.

Contract Execution – Under the smart contracts service of blockchain, a particular platform is offered for the contract performance which promises high transparency levels. This kind of execution distributed in nature implies that all the parties should be equally knowledged and informed.

Criteria for Selecting a Blockchain as a Service Partner

A lot of criteria go into the main process of choosing a business provider and when it comes to BaaS - Blockchain as a Service, this is going to be all the more attentive because of the lack of readily available tech-based guidelines and best experiences in the market. While the list of criteria can be endless, the following are some of the key aspects or factors that can help you select the right BaaS Platform:

  • Prior experience in setting up Blockchain infrastructure/Market Credential

  • Commitment to Quality

  • Security Assurance

  • Choice of Operating Systems

  • Smart Contracts Integration

  • IAM(Identity Access Management) Platforms

  • Different Runtimes and Frameworks

  • Identity-based Consensus Mechanisms

  • Ease of Use

  • Pricing and Support

The above key aspects and factors will help you decide and choose the right and perfect BaaS - blockchain as a service solution according to your desired business needs and requirements.

Blockchain-as-a-service (BaaS) Pricing: Pricing for blockchain-as-a-service BaaS options is mainly dependent on the type of app you are developing, as well as how many transactions execute if your blockchain application is financial in nature.

Top Blockchain as a Service (BaaS) Service Provider - BlockchainAppsDeveloper

BlockchainAppsDeveloper is a leading Blockchain Software Development Company offering Blockchain-as-a-service (BaaS) solutions that will help businesses and organizations get off the ground with their blockchain applications. We have a team of 50+ blockchain developers with the knack for delivering result-oriented Blockchain-as-a-service (BaaS) solutions to add value to our valuable clients’ businesses. 

Blockchain as a service helps enterprises and businesses become future-ready with scalable software solutions built on blockchain technology. BlockchainAppsdeveloper to develop your business processes more efficient, robust, and secure with BaaS(Blockchain as a Service) Frameworks.

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