Blockchain Solutions: Blockchain as a Service and Implementation Strategies
This study investigates the growing practice of employing blockchain technology as a service and its potential uses across various sectors, and explores the different blockchains such as Ethereum, Cardano, Tron, Polygone, Avanache and other Consensus Mechanism based blockchains.
Abstract
A unique decentralised ledger, subsequently known as the Blockchain, allows numerous transacting parties to agree upon the shared state of the ledger without intermediaries or reliable third parties. This study investigates the growing practice of employing blockchain technology as a service and its potential uses across various sectors. The paper discusses the benefits of implementing Blockchain as a service while explaining blockchain technology’s fundamental ideas and characteristics, such as decentralisation, immutability, and transparency. Companies and their respective offerings within the contemporary marketplace engage in deliberations regarding the prospective benefits associated with the utilization of Blockchain as a service(BAAS), like cost-efficiency, scalability, and security. The study also covers real-world applications of Blockchain as a service, including payment processing, identity verification, and supply chain management. The reach of blockchain-based financial systems went beyond crypto-currencies with the introduction of the Turing-complete Ethereum blockchain. The paper explores the different blockchains such as Ethereum, Cardano, Tron, Polygone, Avanache and other Consensus Mechanism based blockchains. The work is based on assessment of blockchains, publication, and technical report data based on the security and transparency and the outcome of using decentralised blocakchain as a service, as a alternative to the traditional services based on the centralisation.