The rising adoption of blockchain technology across several industries has made it one of the biggest game-changers of the fintech industry. In the past few years, multiple tech giants have come up with customized blockchain solutions to serve their users better. As a result, BaaS ( blockchain-as-a-service) has gained more and more popularity among the tech-geeks. Many ambitious students and professionals are showing interest to learn blockchain technology to make the most of the lucrative career opportunities this field has to offer. Are you one of the aspirants? In this article, we will compare the Amazon Web Services (AWS), Oracle, and Microsoft Azure Baas platforms and check out all their features and benefits.
The Rise of BAAS: Blockchain-As-A-Service
Almost every major technology corporation has started to delve deeper into the blockchain marketplace. Besides Microsoft, Amazon, and Oracle, brands like SAP, HP, and IBM have also onboarded their BaaS solutions.
The Comparison Between Oracle, AWS, and Azure
If you are totally new to the concepts, a little backstory will be useful for you before diving into the comparison. So, let’s learn about all three BaaS solutions before you sign up for blockchain technology training.
It is clear that blockchain technology is highly benecifial for a vast range of use cases in multiple sectors. However, because of its newness, complexities, the rapidly changing nature, the cost to develop and launch a blockchain-based system is significantly huge. Additionally, there are other barriers like the lack of skilled professionals leaving many organizations unable to adapt to the next-gen technology. Therefore, the creators of BaaS solutions are trying to fill the gaps in the marketplace. Moreover, many renowned blockchain training and development centers are providing advanced blockchain technology courses to make the aspirants future-ready.
AWS Blockchain Solution
Let’s begin the discussion with AWS, aka Amazon Web Services. In 2018, Ale Flores, the Blockchain Global Segment Lead at Amazon Web Series, announced their partnership with ConsenSys, a blockchain technology-focused agency. This partnership happened to initiate Kaleido, a brand-new blockchain solution. The launch of Kaleido followed similar announcements made by Microsoft’s Azure, IBM, and Oracle.
What are the Salient Features of AWS Blockchain Solution?
First and foremost, AWS Blockchain Templates are the most popular products. These templates allow the blockchain app users to set up Ethereum networks or Hyperledger Fabric in a quicker way. Additionally, AWS also allows users to access affordable resources to quickly deploy the blockchain network. Some of the important features of the AWS blockchain solution are:
- It secures the tech companies when the users add permission to access the AWS resources. The companies can also access the resource activity at any time by logging in to the AWS CloudTrail
- AWS blockchain solution is a pay-as-you-go service. So, the users only pay for the services and the amount of time they use it. Clearly, AWS resources are affordable. Also, the users don’t also need to pay any upfront fees or termination fees as there is no need for a long-term contract between the user and the AWS platform.
- AWS also provides you with an array of options for the enterprise blockchain framework. You can choose from Hyperledger Fabric, Corda, Ethereum, so on.
- You can quickly deploy secure blockchain networks with AWS blockchain templates. To learn more about it, enroll in the best blockchain certification available out there.
The Key Products Of Aws Blockchain Solutions
AWS Blockchain Templates
The AWS blockchain templates are the primary products of the BaaS solutions. They allow the users to choose between Ethereum open-source framework or Hyperledger Fabric to deploy a secure blockchain network in the fastest way possible.
With the advanced, cutting-edge templates, you don’t need to waste much time setting up your blockchain network manually. It allows you to just deploy the AWS CloudFormation templates and prioritize your blockchain application only.
What Are The Benefits?
Other than the pay-as-you-go feature, AWS blockchain solutions also offer fast blockchain deployment on Amazon EC2 or EC3 virtual servers. No matter which framework you choose, you can access features like distributed consensus algorithms, functionality, access control, and other important blockchain features. The AWS templates also come with management tools that help you browse, monitor, and manage your blockchain development project.
Microsoft Azure Blockchain
Microsoft Azure Blockchain was the first large tech company to announce BaaS functionality to developers and companies. Plus, it also initiated the first attempt to preserve and secure the digital identities on a blockchain network.
So, when you are looking for a time-saving blockchain product, Azure is the pioneer in the BaaS industry while having the largest compliance portfolio in the marketplace. This company claims to provide low-cost, low-risk, quick, and fail-proof BaaS solutions.
What Are the Salient Features of Microsoft Azure Blockchain?
Some of the most significant features of the Azure Blockchain Solution are:
- Azure blockchain majorly cuts down the development time by providing the users with pre-configured infrastructure and networks. It also allows the users to develop decentralized applications in a seamless and fast way.
- Azure tools come with built-in connections so that the users can iterate and validate blockchain developments conveniently. Want to know more about how to develop a decentralized application on Azure tools? Learn blockchain technology from a reputable blockchain institution.
- With a globally available cloud platform, you can secure your data. The scalable solutions also allow you to expand or reduce the time frame at your convenience.
The Key Products Of Microsoft Azure Blockchain
Just like the AWS solution, Azure also provides different solutions based on the framework you want. Additionally, they also offer more personalized partner solutions. Let’s check out more about the solutions. You can choose from multiple products as mentioned below:
Azure or Ethereum
With the use of Azure, working on Ethereum, the most commonly used blockchain network, gets easier. Azure comes with a vast range of pre-configured network topologies and with the help of these, you can deploy the network within minutes. Plus, this solution also involves unique features like the ability to manage nodes with cross-region deployments, easy VM scale sets, and monitoring tools.
You will get Hyperledger Fabric 2.0, one of the most popular frameworks, on the Azure platform. It will be the best product to use if you want to deploy services for membership ordering or for validating peers. It is needless to say that deployment is fast and easy on the Hyperledger Fabric.
If you want to work on decentralized applications available in financial sectors, Azure’s Corda distributed ledger technology is highly beneficial to work on the blockchain platform. It helps the users to deploy a multi-participant network with ease. Additionally, you can also work with peers, notaries, and a network map.
Azure Blockchain Workbench
If you are looking for a solution that ensures the quick development of blockchain applications, it is a complete Workbench solution for you. Azure blockchain workbench is a user-friendly web interface when compared to AWS.
DevTest Labs for BaaS solutions
You can easily create a lab for a team to contain all the team templates and policies.
What Are The Benefits?
Azure blockchain solution comes with a vast range of benefits over its competitors. First and foremost, the users have the scope to choose from an array of the blockchain platform options like Chain, Ethereum, Hyperledger Fabric, Quorum, and much more.
All these frameworks are available in multi-node, single-node, and multi-member topologies. Multi-member topology is one of the strongest among all and it allows you to create a large network including multiple organizations. Plus, each organization keeps its administrative control as well while the development process is going on.
Oracle Blockchain Solution
Oracle followed Microsoft’s footsteps and onboarded Oracle Blockchain, its B2B blockchain solution model in 2017. This enterprise-grade platform is targeted towards businesses and enterprises and offers the customers a fully-managed approach. In 2019, Oracle Blockchain further launched its on-premise version.
Oracle’s senior vice president, Zavery, once told in a press conference that they introduced the on-premise version so that various companies can work on open-source blockchain development projects and customize it according to their convenience. They can also add confidential security, permissions, and APIs.
What Are the Salient Features of Oracle Blockchain Solution?
Here is the list of some unique key features of Oracle Autonomous Blockchain Cloud Service:
- Oracle blockchain is a fast and seamless way to deploy applications. It offers a fully preassembled and managed blockchain service. With the knowledge and skill-sets gained with extensive blockchain technology training, you can seamlessly provision the whole process on the cloud.
- The Oracle Solution allows you to develop blockchain applications and networks on an open-source Hyperledger Fabric framework and deploy those in multi-cloud, multi-region, and hybrid topologies
- Use the built-in API gateways and other on-premise applications like Oracle SaaS, and third-party applications.
- The Oracle blockchain platform is exclusively designed to provide enterprise-level features like live Analytics, Oracle DB, fine-grained on-chain access control, on-request audits, role-based identity management, and certificate revocation management.
- The in-built Blockchain App Builder provides a low-code development tool that generates extensible smart contracts automatically from declarative data structures. As a result, it also aids in fast testing, development, and deployment.
- The Oracle solution is a great option when you are looking for blockchain development in a very short span. It is simple to integrate and configure, with high-dynamic availability, greater attention to security, ease of operation, and flexibility to enhance the network topology.
The Key Products Of Oracle Blockchain
Most importantly, Oracle allows you to develop hybrid blockchain networks, which means that you can collaborate with partners even outside of the Oracle Cloud (if they are also using Hyperledge Fabric).
If you are wondering about the available tools, Oracle blockchain offers a Trace SaaS application and an Intelligent Track application. The users can leverage these tools to trace, track, and monitor transactions, their associated assets, documents, and items across their supply chain.
What Are The Benefits?
When compared with Azure and AWZ, Oracle is trailing behind. However, it is also giving its hundred percent to lure more and more users to blockchain solutions.
Unlike Azure or AWS, this product is an Enterprise Grade solution and you will get no other solutions from the partners. However, if an organization is looking for an autonomous and secure blockchain solution, Oracle is a great option with the ability to auto-backup every transaction.
The Final Verdict
It is clear now that the blockchain market is on the verge of rising exponentially in the upcoming years. While AWS and Oracle Blockchain come up with good BaaS offerings, Azure turns out to be the most popular out of the three platforms mentioned in this article. In addition to that, in 2018, Azure was the most used cloud platform all over the world.
The increasing rate of mass adoption of blockchain technology also makes the industry the most upgraded revolution of the fintech industry. With so much potential, you might want to learn which among the three would be the best option for you to build a sustainable career. No matter what, all three BaaS solutions are important when you are enrolling in blockchain technology courses.