BaaS refers to third-party cloud-based infrastructure and management for companies building and operating blockchain apps.
Blockchain as a Service (BaaS)
What is BaaS?
Baas is based on the Software as a Service (SaaS) model and works in a similar fashion.
BaaS refers to third-party cloud-based infrastructure and management for companies building and operating blockchain apps.
It functions like a sort of web host, running the back-end operation for a block-chain based app or platform.
Why BaaS?
-Consumers and businesses are increasingly willing to adapt to blockchain technology.
-However, the technical complexities and operational overhead involved often act as a barrier.
-These include creating, configuring, and operating a blockchain and maintaining its infrastructure
How does BaaS do it?
-BaaS offers an external service provider to set up all the necessary blockchain technology and infrastructure for a fee.
-Once created, the provider continues to handle the complex back-end operations for the client.
-These include activities like bandwidth management, allocation of resources, hosting requirements, and data security features.
-The BaaS operator frees the client to focus on the core job, the functionality of the blockchain.
-A BaaS provider’s role is similar to that of a web hosting provider.
-The website creators create and run all the website content on their own personal computers.
-They may hire support staff or sign up with an external hosting provider like Amazon Web Services or HostGator.
-Similarly, these third-party companies take care of the infrastructure and maintenance issues.
The Future
-BaaS may be the catalyst that leads to a wider and deeper penetration of blockchain technology across various industries and businesses.
-Businesses don’t have to create and run their own blockchains.
-Instead they can now simply outsource the technically complex work and focus on its core activities.
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