FLETA — Providing Blockchain as a Service — Part.1
The decentralized ecosystem can be extremely intimidating for a newcomer. Since the system and the innate philosophy is so different from what people are used to, it tends to have a huge barrier to entry. This is why many companies have adopted the Blockchain-as-a-Service (BaaS) model to help fledgling startups to gain a headstart. BaaS vendors provide services like user authentication, database management, remote updating, and push notifications (for mobile apps), cloud storage, and hosting.
How does BAAS work?
When you create a website for your business, you are just doing half the work. A website is useless if it’s not going to go online. So, to get your website online, you can take one of the following paths:
- You can choose to host the website from your computer or server. Since you will have to take care of all the maintenance work yourself, this method can be extremely time consuming and may move your focus away from other more urgent tasks.
- You can hire some staff members to take care of hosting for you. This can get very expensive. Not only will you have to pay your staff’s salary, but you will have to spend a lot of time looking for the right candidate. Worst case scenario, you may need to train someone from scratch.
- Finally, you can procure the services of an external web hosting provider like Amazon Web Services or HostGator. In exchange for a fee, they will take care of all the infrastructure and maintenance issues.
BaaS works similar to the third option. They will take care of the backend blockchain-needs for you while you take care of the frontend. BaaS also takes care of additional services such as bandwidth management, proper allocation of resources, hosting requirements, and security features like the prevention of hacking attempts.
Why is BaaS important?
To understand the core importance of BaaS in this day and age, let’s make you understand the differences between vertical and horizontal innovation.
Vertical innovation is innovation that is explicitly done in a particular field while horizontal innovation is something that can be adopted by everyone.
E.g., Penicillin and Polio vaccine are both revolutionary innovations, however, they are specific to only one field, aka the medical field. This is why both penicillin and polio are vertical innovations.
On the other hand, electricity and internet are examples of innovations that have been used across several fields and industries. Hence they belong to the “horizontal innovations” category.
The blockchain technology is considered as the next great horizontal innovation. Many industries and sectors will benefit greatly from the blockchain’s properties, such as:
- A single entity does not own it, hence it is decentralized.
- The data is stored using strong cryptography which makes it immutable.
- The blockchain is transparent so one can track each data to its very origins if they wanted to.
What this means is that it is a vital requirement for companies to find a way to either incorporate the blockchain or interact with other blockchain-based entities, if they want to survive in the industry. This is the fundamental reason why BaaS services are so important. They will help all these companies to evolve and adapt to a newer age.
Many big and well-known companies have already started offering their BaaS services:
- Microsoft offers BaaS via their Azure platform.
- IBM has its own BaaS which is focused on private consortium blockchains
- Amazon offers BaaS services.
- Oracle also offers blockchain cloud hosting.
FLETA has also decided to throw their hat into this space with their BaaS services.
FLETA’s BaaS Services
We have talked about FLETA’s Gateway services in detail before, which you can read over here. FLETA’s Gateway system allows different projects to interact with each other. Its proof-of-formulator consensus mechanism ensures that the system is scalable, has low latency, and high availability. However, the unique feature of the Gateway protocol is that it will allow any and all projects to use the FLETA service chain which is both fast and cheap. So, why should projects opt for FLETA’s Gateway BaaS protocol?
- FLETA already utilizes a proven and fast consensus mechanism.
- FLETA’s service chain provides a BaaS service which is fast, cheap and is built on strong fundamentals.
- FLETA’s robust architecture and design (validator nodes) will help bring in added security to your project.
- Projects have the freedom to set the transactions for free so that users can use the chain without any expenses.
Whether you have prepared for it or not, the blockchain technology is the future. Right now, it’s all about adapting or dying out. FLETA gives you a platform which has been practically tested to provide you with the best possible service for everything blockchain-related. Using the Gateway protocol will help your business to stay relevant and incorporate all the positive features of blockchain technology.