Starting things from the very ground up is a thing of the past. Instead, the cloud-based service providers that we will discuss today will provide you with the infrastructure, networking tools, and such to get into the blockchain loop quickly without having to start things from scratch.

The tech industry is always looking to adopt the next new thing, the next hot technology, and blockchain has become the current obsession. As cloud computing has matured and the marketplace of BaaS (blockchain-as-a-service) providers has surfaced, many small businesses these days can adopt the technology of blockchain without needing to invest a ton in the infrastructural expense.

With the help of services like BaaS, companies and small businesses can forego the hassle of worrying about the underlying structure; gone are the days when you have to worry about the underlying protocols. These days you can simply build applications within a blockchain network using preassembled APIs. Industries relating to telecommunication and financial ones have already proven the value that BaaS services can provide.

Blockchain

Blockchain is a decentralized method of data communication in some sense, and it represents a transformative mythology in regard to data exchange for many industries. Blockchain uses a complex supply chain that is very secure and verified, and all the participants within that network receive updates when any transaction is made. No single-user is tracking the transactions or owner controlling the medium. It is decentralized. For enterprises to adopt blockchain more freely, the challenge is the readiness of blockchain’s ecosystem and making it easier to buy or build.

Blockchain as-a-service Provider and their role

BaaS provides organizations with a less complicated and quicker path to experimentation with blockchain technology. BaaS providers also provide a platform so that companies or businesses can build and operate blockchain applications. Since these providers allow enterprises to work with blockchain technology without making a huge investment, these providers are actually aiding in the quicker adaption of blockchain technology. BaaS is essentially doing the same thing for blockchain that SaaS did for cloud adaption.

It is predicted that blockchain will add to the global economy $360 billion by 2026, a whopping $3 trillion by 2030 in value. Obviously, blockchain has huge potential, and whether it will be played out exactly as estimated or not, it has a high probability of landing in a very sound development. Most businesses and enterprises will be interested in the idea of running analytical apps while they are using a blockchain, and certain core features will be a priority as a result. Analytical apps help gain valuable insight into any operation, so, understandably, they will serve a big role for people who will use blockchain technology.

BaaS providers who will be able to provide the soundest service along with good analytical tools will stand out from the crowd. Some of the core features that will be of high importance include the architectural management of the platform, bandwidth management, availability of preconfigured and modular networks infrastructure, data security, and so on.

Top BaaS providers

Blockchain is still a new technology, all things considered, and knowing all its quirks and potential in this stage is still unlikely. Instead, blockchain node providers are currently trying to figure out the things that make applications built on top of a blockchain API more long-lasting and successful.

Not all BaaS providers are on the same level with the services they can provide, which is why let’s take a look at the BaaS providers that are currently great options to go for.

Oracle

Oracle mainly offers two BaaS approaches. First, it offers an on-premises version in which Oracle deploys preassembled blockchain that operates like a software appliance running on a virtual machine. Oracle mainly uses a cloud-based blockchain platform and has offerings as most traditional SaaS does. There are subscription-based offerings where users can set up quick Hyperledger Fabric blockchains.

IBM

IBM is considered to be one of the most mature blockchain services that currently exist on the market. IBM’s blockchain platform is built on an open-source community-based Hyperledger fabric on top of the Linux Foundation. IBM already had plenty of success in regards to its blockchain operation. For example, its Food trust blockchain has brought a lot of transparency to the supply chain of food while also transforming or helping transform trade finance for the consortium.

Get block

New to the game but bringing good offerings to the market by enabling users to have developer tools as well as deep insights, which ensures that the users are receiving a stress-free experience with reliable API access to various blockchains like Ethereum and Bitcoin. GetBlock aims to provide nodes to people who do not want to go through the hassle of creating one from scratch and maintaining them.

Conclusion

Blockchain technology is still in its infancy, and its mechanism gets very technical with lots of jargon. Many of these confusions are mitigated through the existence of these BaaS providers. Choosing one will mainly depend on your needs; however, choosing the right one that has the capability to give you consistent and good customer service is crucial, especially when blockchain is the topic of discussion.