Amazon Web Service (AWS) has made history by listing its first Blockchain platform with Cross-Chain support. This is according to an earlier official announcement by aelf which revealed that the platform has been listed on the AWS in order to be offering Blockchain-as-a-Service on the platform.
Further, the BaaS service that aelf will be proffering on AWS is unique as it will enable firms that use the platform to deploy DLT projects with cross-chain capabilities.
The importance of the BaaS that aelf is offering on the AWS is that it will play a vital role in ensuring that Blockchain-powered platforms can communicate and interact with each other in real time.
Cloud computing is the provision of computer services such as intelligence, software, analytics, servers, storage, networking, and databases on the internet. Companies use this solution for economies of scale, flexible resources, faster innovation, among other benefits to cut operation costs, for scalability, and to run their infrastructure efficiently.
The global cloud computing market is projected to be worth over $400 billion by 2020 as more businesses are adopting cloud computing solutions for their ever-growing IT needs.
AWS has been one of the key players in this industry although there has been fierce rivalry from other players such as IBM Salesforce, SAP and Microsoft.
All these cloud services providers are pro-Blockchain and some of them are developing their own Blockchain projects while others are cooperating with Blockchain project like in this case where aelf is being listed on Amazon Web Service. Therefore, the use of Blockchain technology in this use case is set for a major change as BaaS is the next technology that would enable more companies to leverage the many benefits of the groundbreaking DLT innovation.
Hybrid, Private, and Public Clouds. The standard Blockchain technology also comprises of permissioned, open source, and a mixture of the two types depending on the aim of the project. Despite the fact that most Blockchain projects offer only one of the three versions, aelf Blockchain is different as it is designed as a public, private, and a hybrid network which makes it ideal for serving all the AWS Cloud clients’ needs.
Platform as a Service (PaaS), Software as a Service abbreviated as (SaaS), Serverless, and Infrastructure as a Service (IaaS) are the four groups of cloud computing. Since they are offered in overlapping stacks, they are also known as cloud computing stacks.
Blockchain-as-a-Service that AWS is beginning to offer through aelf is the newest category of cloud computing stacks. Although it is closely related to PaaS, the BaaS is more efficient, it can support communication between one DLT network and another for B2B needs, and so many other benefits.
A BaaS with Cross-Chain support is ideal for eliminating the prevailing problem where Blockchain projects cannot sync with each other for communication purposes. For example, a DApp on Ethereum cannot communicate to another app on EOS but only on Ethereum.
Hence, aelf is putting an end to this problem by creating a model of enhancing Blockchain interoperability and AWS is providing visibility to this solution.
Some of the AWS clients who are likely to experience the immense potential of Blockchain technology through the BaaS cross-chain solution include Dow Jones, Lionsgate, Time Inc, NASA, AirBnB, and Netflix.
Ahead of the launch of Bakkt’s Bitcoin (BTC) futures, bears have continued to assert control over the cryptocurrency market. Ouch.As… Read More
One of bitcoin and crypto's oldest proponents, the founder and former chief executive of U.S. online retailer Overstock, Patrick Byrne,… Read More
A pair of researchers have released the results of a formal verification of bitcoin’s lightning network.Lightning is new(ish), experimental, and… Read More
Often considered as a nascent technology, blockchain was introduced about a decade ago. Although the technology has not been around… Read More
Kate Winslet has spoken out after her image was used to advertise a Bitcoin scam Movie star Kate Winslet is… Read More