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Top 10 Blockchain-as-a-Service (BaaS) Providers

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BaaS or Blockchain-as-a-Service is a paid blockchain-based cloud service that blockchain companies provide to customers. BaaS provides customers with the ability to build, host, and use their own blockchain apps, smart contracts, and any other digital services on a distributed network.

 

It is important to clarify that the BaaS concept is derived from the concept of SaaS (Software as a service) and works similarly to it.

How does BaaS work?

According to the BaaS concept, blockchain companies install,  manage, and maintain, blockchain-based cloud platforms in addition to providing the tools necessary to build blockchain applications to customers in return for a fee.

The future of the BaaS industry

Currently, the global revenue from blockchain services is estimated at $ 2.5 billion and by 2025 this number is expected to rise to $ 19.9 billion.

 

Overall, the business value of blockchain solutions will increase to more than $ 360 billion by 2026, with estimates of this number reaching $ 3 trillion by 2030.

 

The previous figures clearly show the future of the industry as well as explain the huge and successive investments in the blockchain business in general.

Advantages of using the BaaS model

The BaaS model provides its users with many advantages, most notably high data security, efficiency, scalability, unlimited customization potential, as well as it is compatible with current cloud services.

 

In addition to the above, the adoption of the BaaS model reduces administrative burdens and provides better management and recruitment of resources.

 

Moreover, the BaaS model is easy to use and affordable, given the value it offers.

BaaS vs owning a blockchain-based cloud platform

The BaaS model is a better solution for business than having a blockchain-based cloud platform in all aspects. Owning a blockchain-based cloud platform is hugely costly due to start-up costs (infrastructure, personnel, software, licensing, hardware, consulting, and more), retirement costs (decommissioning of server racks), and operational costs (monitoring, cost per transactions, bandwidth expenses).

 

In addition to the above, owning a blockchain model means fully assuming administrative responsibilities.

 

While in the BaaS model, the cost is significantly lower because you only pay for the service you get. The service price in the BaaS model is subject to several factors, including the transaction rate, the maximum number of concurrent transactions, the payload size on transactions, and so on.

 

Also, in the BaaS model, all administrative burdens are borne by the provider.

How to choose the right BaaS provider?

There are a number of points to consider when selecting a BaaS provider. For instance, the provider’s experience and reputation, the security of the platform, the technical support as well as the ease of use and pricing.

 

In addition, it must be ensured that the platform integrates with the existing operating systems and software.

 

It should also ensure that the platform supports smart contract integration and deployment, identity access management (IAM) system, different runtimes, and frameworks.

Top 10  Blockchain-as-a-Service (BaaS) Providers

 

  1. Blockwell

Blockwell is one of the world’s leading providers of blockchain solutions to governments, enterprises, and end-consumers. Founded in 2018 by experts who have contributed for 20 years in developing emerging technologies for some of the largest companies in the world.

 

Blockwell aims to assist organizations in adopting blockchain solutions by providing consulting and a cloud blockchain platform in addition to a distinct and diverse set of tools and programs.

 

Blockwell aims to help everyone generate profits by allowing them to build and expand blockchain tools, services, and products.

 

Currently, content creators rely on existing toolkits developed by Blockwell, set their own commission structures, and earn percentages as they sell and promote their tools around the world.

 

During the past two years, Blockwell has developed blockchain solutions for cryptocurrency businesses around the world.

 

In addition, Blockwell has vetted dozens of token contracts for some of the most popular exchanges in the world, prevented and stopped hacks saving individuals millions of dollars, built successful token-swaps tools, and analytics tools.

 

Blockwell’s previous work includes the names of many well-known businesses such as JPMorgan Chase Bank, Wells Fargo, Disney, GoPro, Paramount, Mattel, Universal, Lucas Arts, Suzuki, Epson, Time Warner Cable, Guitar Center, Beachbody, Marriott, Jaiyen Eco-Resort and more.

 

Blockwell has an impressive list of tools and applications. Notable among them are Blockwell Wallet, Pride Token, Fire Tokens, EgoCoins, iBlockwell, Blockwell Book, Sheets-n-Blocks – Blockchain, Contract Tool, VoteBlock, API Miner, Smart License Creator, Blockwell Prime, Listener, Token Swapper, Blockwell Daico, Blockwell Telescope, Blockwell Spyglass, Blockwell Velvet, Blockwell KYC Form Builder, Non-Fungible Token Creator, BW, and Dumbapps.

 

In addition to apps and tools, Blockwell has launched a store for  DApps named “Well Spring” that has 16 working apps so far.

 

Blockwell backed tokens are valued at over $ 80M.

 

Regarding the future, Blockwell is seeking to expand by investing $ 10M. The company plans to obtain it by selling 100MM tokens to investors.

 

  1. Amazon

Amazon introduced its BAAS service called “Amazon Managed Blockchain” in 2018 through its cloud arm, Amazon Web Services (AWS). Amazon Managed Blockchain is a managed service that makes it easy to create and manage scalable blockchain networks using open source frameworks including Ethereum and Hyperledger Fabric.

 

Moreover, Amazon allows customers who want to manage their own network to go ahead, but it is an option that needs experience in dealing with AWS Blockchain Templates.

 

Amazon also enables companies to integrate their blockchain-based networks and business processes to improve IT infrastructure, business processes, human resources, financial transactions, and supply chains.

 

In addition to the above, Amazon provides AWS Key Management Service to secure Hyperledger Fabric’s CA (Certificate Authority) and Amazon QLDB technology to manage augmented ordering service.

 

The BAAS offer from Amazon is characterized by flexibility in identifying resources to suit companies’ needs.

 

Amazon customers’ list includes star names like Nestlé, BMW, Accenture, Sony Music Japan, and the Singapore Exchange.

 

  1. IBM

IBM is one of the world’s most important BaaS service providers. Forbes selected it among the top 50 blockchain companies, thanks to its blockchain platform “IBM Blockchain“, which it launched in 2017.

 

IBM Blockchain is a fully-integrated distributed ledger technology platform that enables businesses to “’develop, govern, and operate a blockchain ecosystem quickly and cost-effectively on a flexible, cloud-based platform by using Kubernetes.

 

Partnerships have been vital to IBM’s continuous BaaS expansion. it created the Trust Your Supplier platform alongside blockchain firm Chainyard and also pioneered the Contingent Labor platform in conjunction with IT People.

 

As well as IBM Blockchain has joined The Linux Foundation’s Hyperledger Project to evolve and improve upon earlier forms of blockchain. Instead of having a blockchain that is reliant on the exchange of cryptocurrencies with anonymous users on a public network (e.g. Bitcoin), a blockchain for business provides a licensed network, with known identities, without the need for cryptocurrencies.

 

IBM Blockchain Platform has been used widely in industries such as food supply, media, advertising, and trade finance.

 

  1. Microsoft

Microsoft is one of the oldest BaaS service providers as it has been in the market since 2015 when it launched Azure Blockchain Service.

 

Microsoft aims through its BaaS service to enable users to build public, private, and consortium blockchain environments with industry-grade frameworks and bring their blockchain apps to market.

 

Microsoft provides three products to customers: Azure Blockchain Service, Azure Blockchain Workbench, and Azure Blockchain Development Kit.

 

Azure is compatible with other Microsoft products such as Logic Apps and Flow, making it a great choice for organizations looking to harness blockchain such as General Electric and T-Mobile.

 

Microsoft Azure’s most prominent features are the support of several Blockchain frameworks, including Quorum, Corda, Hyperledger Fabric, and Ethereum. Plus, ease of deployment using Azure CLI, Azure Portal, or Visual Studio Code with the Azure Blockchain extension. Azure also supports full monitoring and logging.

 

The above helped Microsoft to forge important partnerships with prominent entities such as its partnerships with Ripple and BitPay.

 

  1. Alibaba

Alibaba is one of the leading blockchain solutions providers around the world. The well-known Chinese company introduced its BaaS service in 2018 through its cloud platform.

 

Alibaba has an active research team and has registered many patents on blockchain during the past period.

 

Utilizing Quorum, Hyperledger Fabric, and the Ant Blockchain, the platform integrates Alibaba Cloud’s Internet of Things (IoT) and anti-counterfeiting technologies to create blockchain solutions for product traceability.

 

Alibaba’s BaaS offering provides diverse solutions to meet user needs including encompasses enterprise-level BaaS services, an agile BaaS platform that supports private deployment, and specific blockchain solutions for container services.

 

  1. Oracle

Software giant Oracle unveiled its BaaS service in 2017. The service, called “Oracle Blockchain Cloud Service”, aims to provide an enterprise-grade distributed ledger platform that can help businesses to “increase trust and provide agility in transactions across their business networks.”

 

Oracle enables its service users to provide permissioned blockchain networks for private or consortia models, enroll member organizations, and run smart contracts to update and query the ledger in addition to many other benefits.

 

Also, Oracle enables its service users to use its other solutions such as Oracle Supply Chain Management (SCM) Cloud, Oracle Enterprise Resource Planning (ERP) Cloud, and other Oracle cloud solutions.

 

  1. R3

R3 launched its BaaS service called “Corda” to enable companies to transact directly and privately using smart contracts.

 

Corda is an open-source blockchain platform that works on minimizes blockchain nodes’ deployment time by a few minutes, allowing enterprises to host the Corda network in a few clicks.

 

Interoperability, security, and privacy are the foundations of the finance-focused Corda.

 

Royal Dutch Airlines (KLM) recently hired Corda service to streamline financial processes and enhance settlements

 

Corda provides users with the following benefits: Easy cloud-based deployment and quick setup of nodes with Docker, a Built-in blockchain application firewall to provide additional security, as well as R3’s Interoperability feature that allows developers to work with more than one application at the same time.

 

It is worth noting that R3 has developed solutions for more than 300 clients in addition that it has partnerships with many prestigious institutions such as Barclays, Credit Suisse, Goldman Sachs, J.P. Morgan, and Royal Bank of Scotland, Bank of America and Wells Fargo, and more.

 

  1. SAP

SAP launched its BaaS service “Leonardo” in 2017. Through its service, SAP aims to help companies transition into the digital age through the use of distributed ledger technology.

 

Leonardo is a Hyperledger based service and resides in the SAP Cloud service, meaning it can be accessed from any device.

 

The platform provides plug-and-play blockchain solutions and allows for the easy setup and hosting of blockchain nodes.

 

SAP Leonardo functions as a blockchain cloud service, machine learning service, and supports the Internet of Things (IoT) in a single ecosystem.

 

SAP Leonardo provides its users with several benefits such as cloud deployment, monitoring of blockchain data in real-time, and more.

 

  1. Huawei

Well-known Chinese smartphone manufacturer Huawei launched its BaaS service in 2018. The service, called “BCS“, is based on Linux Foundation’s Hyperledger Fabric, a blockchain framework that allows components, such as consensus and membership services, to be plug-and-play.

 

With its BaaS service, Huawei aims to enable companies to develop smart contracts on top of a blockchain network for several use-case scenarios.

 

Huawei also works with enterprise customers to promote the deployment of blockchain solutions and applications and to build reliable, public infrastructure, and an ecosystem-based on blockchain and shared success.

 

According to Huawei, BCS enables enterprises to deploy blockchain technology within five minutes. It concentrates on nine application scenarios, including data assets, Internet of Things (IoT), operation, identity verification, data certification, data transactions, new energy, philanthropic donations, and inclusive finance.

 

Huawei has many and varied partnerships inside and outside the Chinese market, but the most prominent name remains the famous car manufacturer Honda.

 

  1. Factom

Factom launched its BaaS service in 2017. The service, called “Factom Harmony“, aims to allow enterprises and software vendors to quickly add blockchain capabilities to any application or workflow using simple API calls.

 

Harmony also aims to enable users to create portable, archivable cryptographic proofs to use as trusted inputs for internal and external audits.

 

What sets Factom Harmony apart is that it reduces the time and resource requirements to perform audits and meet compliance objectives.

Author: Husayn Hashim

Bio: Husayn Hashim works as an author and programmer. He has been writing about blockchain technology and cryptocurrencies for si years. He’s interested in programming, technology, finance, and business. He loves writing and loves to share his knowledge with others.

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These Are Ripple’s Relocation Options if it Moves Out of the United States

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Ripple has expressed dissatisfaction over the regulatory uncertainty surrounding cryptocurrencies in the United States. Apart from this, the San Francisco-based firm has also decided to act. By moving out of its home turf. But where will Ripple move next? Here are the relocation options.

Ripple’s Asia Options: Japan, Singapore & the United Arab Emirates

When Ripple’s co-founder and Executive Chairman Chris Larsen threatened to move out of the United States over the federal government’s anachronistic attitude towards cryptocurrency regulation, the message was clear.

During a virtual interview with Fortune at the LA Blockchain Summit, Larsen dropped the ‘relocation bomb.’ The Ripple co-founder also added that the US is far behind in the cryptocurrency regulation game compared to its counterparts. To the point that it actually risks losing its financial innovation edge to China (in particular).

Continuing his commentary, Larsen said that the U.K. and Singapore are the most probable destinations for the company to relocate if it moves base out of the country.

However, yesterday, in an interview with Bloomberg, Ripple CEO Brad Garlinghouse added Japan and the United Arab Emirates too to the list of Asia options. Elucidating the reason for extending the list, he said:

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The common denominator between all of them is that their governments have created a clarity about how they would regulate different digital assets, different cryptocurrencies.

He reiterated Chirs Larsen’s stance about the United States’ uncertain regulatory roadmap. He also referred specifically to the conundrum of categorizing cryptocurrencies into a commodity, a currency, a property, or security.

Moving out of the US is more of a compulsion than a desire, Mr. Garlinghouse explained. Ripple would have continued to operate from their home turf if the cryptocurrency regulation scenario was not colloidal.

Ripple is definitely a proud US company and we’d like to stay in the US if that was possible, but we also need regulatory clarity in order for us to invest and grow the business.

Love For London And The United Kingdom

Apart from Asia, Ripple is also strongly considering the UK as an option. This became clear when in an interview with CNBC, the CEO applauded the clarity regarding XRP’s regulatory status in the country.

“What you see in the U.K. is a clear taxonomy, and the U.K.’s FCA took a leadership role in characterizing how we should think about these different assets and their use cases,” Garlinghouse said.

The outcome of that was clarity that XRP is not a security and is used as a currency. With that clarity, it would be advantageous for Ripple to operate in the U.K.”

This is clearly where the US is failing, Mr. Garlinghouse remarked. Although the U.S. Securities and Exchange Commission is clear on Bitcoin and Ethereum not being securities, when it comes to XRP, the authority has mostly stayed mum, which in turn has left the cryptocurrency’s status ‘shrouded in uncertainty.’

The clarification regarding XRP’s ‘security status’ is crucial for Ripple. Even though the company claims total disassociation from the XRP ledger and the token, it still owns 55 billion of the total 100 billion XRP supply.

Apart from the United Kingdom and the aforementioned countries in the Asian continent, Ripple has also shown interest in Switzerland for setting up its headquarters.

Ripple (XRP) price climbed up higher but not necessarily in response to Ripple’s decision to leave the US. The rally can be mostly attributed to bitcoin rushing for the stars with its explosive break past the $13,000 mark.

Will the cryptocurrency-based fintech firm be able to operate with total and unequivocal regulatory clarity in the above countries? It still remains to be seen.

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Source: https://cryptopotato.com/these-are-ripples-relocation-options-if-it-moves-out-of-the-united-states/

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ETH Cools Off After 13% Weekly Gains, What’s Next? (Ethereum Price Analysis)

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ETH/USD – Bulls Retest Bearish .618 Fib Resistance

Key Support Levels: $410, $400, $387.
Key Resistance Levels: $416, $421, $439.

Ethereum saw a strong 13% price surge this past week as it reached as high as $421 (1.414 Fib Extension). More specifically, the buyers could not close a daily candle above the resistance at the bearish .618 Fib Retracement at $416.

After heading back into $400 yesterday, the bulls have rebounded and are now retesting the aforementioned level.

ethusd-oct24
ETH/USD Daily Chart. Source: TradingView

ETH-USD Short Term Price Prediction

Looking ahead, once the buyers break $416, the first level of resistance lies at $421.50 (1.414 Fib Extension). This is followed by resistance at $434, $439 (August 2018 Highs), and $445 (bearish .786 Fib). $450, added resistance lies at $462 and $475.

On the other side, the first level of support lies at $410. Beneath this, support is found at $400, $387 (.382 Fib), and $377 (.5 Fib).

The RSI is approaching overbought conditions but still has room to push higher before becoming truly overbought.

ETH/BTC – Bulls Testing 100-days EMA Resistance

Key Support Levels: 0.0311 BTC, 0.0305 BTC, 0.03 BTC.
Key Resistance Levels: 0.0327 BTC, 0.0337 BTC, 0.0341 BTC.

Against Bitcoin, Ethereum struggled this week as it dropped as low as 0.0305 BTC. It has since bounced higher to climb back above 0.031 BTC to trade at the current 0.0318 BTC level. It is now testing resistance at a 100-days EMA and must overcome this to head back toward the October highs at 0.0337 BTC.

ethbtc-oct24
ETH/BTC Daily Chart. Source: TradingView

ETH-BTC Short Term Price Prediction

Looking ahead, if the bulls can break the 100-days EMA, the first level of resistance lies at 0.0327 BTC (bearish .236 Fib Retracement). This is followed by resistance at 0.0337 BTC (March 2019 Support – now resistance), 0.0341 BTC (bearish .382 Fib), and 0.035 BTC.

On the other side, the first level of support lies at 0.0311 BTC (.618 Fib). Beneath this, support lies at 0.0305 BTC, 0.03 BTC, and 0.0295 BTC (200-days EMA).

The Stochastic RSI recently rebounded, which put an end to the downward pressure. For a bullish recovery above the 100-days EMA, the RSI must pass the mid-line to indicate bullish momentum within the market.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/eth-cools-off-after-13-weekly-gains-whats-next-ethereum-price-analysis/

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