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Cheer up for Blockchain-as-a-SaaS!

Nov 25, 2017 Posted /  10738 Views

Cheer up for Blockchain-as-a-SaaS!


We need to consider the blockchain technology, not only as the programmable ledger, but also as the system infrastructure of computing technology. We could easily envisage how computer programs can run on this new technology which has been by now used for transaction corroborations. But we should not take the cloud computing correspondence factually. The blockchain infrastructure doesn’t reinstates cloud computing. It, in fact, unbundles it, as well as democratizes it. The blockchain cloud is a slight cloud if we weigh against it to a customary cloud computing infrastructure, consequently it is more preferably suited for running a new type of thin programs, exclusively known as smart contracts, as well as they are the business sense that performs on the blockchain’s Virtual Machinery.
Not unpredictably, the virtual machine naming borrows from the conventional cloud computing classification, plus it is really this virtual network of decentralized computers that are bound jointly by the regularities of a given blockchain’s consent rules, i.e. to carry out the logic corresponded to in the software code. One method to know this correlation is to judge against the running costs of a virtual machine to the cloud-based computational expenses. When you run an application on the cloud (for e.g. on Amazon Web Services), you are priced based on a mixture of storage, time, data transfer along with computing speed requirements. The originality with virtual machine costing (for e.g. on Ethereum) is that you are paying to run the business logic on the blockchain which or else is running on physical servers, but you don’t have to be anxious about conception of these servers since they are managed by other users (miners) who gain from a crowdsourced-like metering of their fraction of the infrastructure.

The Blockchain Virtual machine

Consequently, the blockchain cloud has an appearance of micro-value costing that is analogous to the conventional cloud computing stack, but by the use of a new layer. It’s not just a physical unbundling of the cloud; to a certain extent it’s a new layering of cryptography-based transaction validation in addition to state transition recordings on a parallel, but as a slight cloud. But let’s not get carried away with the cloud computing correspondence. The blockchain infrastructure bears a resemblance to a layer of cloud computing infrastructure, but it doesn’t permit us to restore it. Blockchain Virtual Machines may be too pricey if we are to factually judge against their functionality to a classic cloud service such as Amazon Web Services, but they will be helpful for definite decentralized applications. Along with this, we might also see a prospect where client nodes can converse with each other openly in scenarios where blockchains are too costly or sluggish. There is a tricky part to running applications on this new infrastructure is that you are required to do a little work. That effort comes in the type of sticking to a new example of decentralized apps that follows web3 architecture to run particularly on the blockchain.

Will blockchain prove as an efficient cloud service?

By using Ethereum again as a prime illustration, 3-tier web3 architecture includes:
1) A highly developed browser as the client,
2) The blockchain ledger as a distributed resource,
3) A virtual network of computers that runs smart business logic programs in a decentralized method by cooperating with the blockchain consensus engine that clears transactions otherwise toggles some value.

This new example actually signifies the prospective way of decentralized computing which is cryptography-based, plus it is a difference of the existing Web apps architecture consisting of running Javascript within browsers plus server-side code that is run on company servers.
So, it seems like that blockchain technology is just like any other software tool in the market, but is it going to grab a throne in the kingdom of Information Technology departments? Yes, there will be a number of applications that will need the involvement of IT and big software teams so as to create some back-end, end-user, intra- or inter-company applications.
But an additional disrupting facade is that business users will also be capable to run their own P2P apps, smart contracts, and other Dapps on open blockchains without looking for permission from IT, in the same mode that SaaS was a Trojan horse that allowed employees to sign-up for services on their own without troubling the company infrastructures.
This new structure of SaaS will be potential for the reason that a new infrastructure layer can come into view by being supported on a peer to peer and shared cost base. And it is quite probable that the costs of this new computing infrastructure will be as economical as Internet access nowadays, on a relative per-user basis. If that’s the case, this opens-up the applications potential even more.

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