Blockchain as a Service
Blockchain-as-a-service (BaaS) is the third-party creation and management of cloud-based networks for companies in the business of building blockchain applications. These third-party services are a relatively new development in the growing field of blockchain technology. The application of blockchain technology has moved well beyond its best-known use in cryptocurrency transactions and has broadened to address secure transactions of all kinds. As a result, there is a demand for hosting services.
BaaS is based on the software as a service (SaaS) model and works in a similar fashion. It allows customers to leverage cloud-based solutions to build, host, and operate their own blockchain apps and related functions on the blockchain. At the same time, the cloud-based service provider keeps the infrastructure agile and operational.
As our development in the greater blockchain ecosystem, BaaS is seen as boosting blockchain adoption across businesses.