is azure blockchain cloud the future of cloud computing

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Sysfore Technologies #117-120, First Floor, 4th Block, 80 Feet Road, Koramangala, Bangalore 560034 IS AZURE BLOCKCHAIN CLOUD THE FUTURE OF CLOUD COMPUTING?

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Page 1: Is Azure Blockchain Cloud the Future of Cloud Computing

Sysfore Technologies

#117-120, First Floor, 4th Block, 80 Feet Road, Koramangala, Bangalore 560034

IS AZURE BLOCKCHAIN CLOUD THE

FUTURE OF CLOUD COMPUTING?

Page 2: Is Azure Blockchain Cloud the Future of Cloud Computing

Is Azure Blockchain Cloud the future of Cloud Computing?

Azure Blockchain as a Service (BaaS) is the new and experimental cloud

technology service which Microsoft Azure is offering for its Platform as a

Service (PaaS) customers. It is trying to create a marketplace for the

blockchain, the distributed ledger technology on which bitcoin is built. IBM is

the other adopter of this new cloud service, through its Bluemix Cloud service.

Sysfore can give you all the facts about Bitcoin cloud technology. Before going

into how Bitcoin cloud works, you need to understand what the Bitcoin

technology is.

What is a Bitcoin?

Bitcoin is the currency of the Internet. It is a distributed, worldwide,

decentralized digital money. Bitcoins are issued and managed without any

central authority whatsoever. It is completely decentralized, with no

government, company, or bank in charge of Bitcoin. Due to this decentralized

nature it is resistant to wild inflation and corrupt banks. You can be your own

bank.

What is A Blockchain?

A Blockchain is a decentralized ledger (database of transactions) powering

Bitcoin-like digital currencies. This ledger is public and duplicated across a

“peer to peer network” while maintaining a coherent state (agreed upon by all

participants) without requiring trust or a central authority. The inherent

redundancy of duplicating the entire ledger on every node of the network

removes the single point of failure common to traditional databases.

Page 3: Is Azure Blockchain Cloud the Future of Cloud Computing

Transaction validity is ensured cryptographically. In this Bitcoin network, the

incoming transactions are bundled into a new “block”, after a specified time.

The chain of blocks (hence “blockchain”) constitutes the agreed upon state of

the ledger.

Changing a block becomes difficult, the deeper it is in the chain. The blockchain

security depends on the computing power that secures the network through

the process of “mining” new blocks. To change the state of the ledger, requires

a lot of computational resources to overwhelm the rest of the network.

BaaS Benefits of Blockchain and Distributed Ledger Maintenance on Cloud:

The Blockchain as a Service model (BaaS) is still an experimental cloud service

model, but it represents a changing perception in the mainstream adoption of

Blockchain technologies. Pioneered by IBM and Microsoft, there are some of

the benefits of this model such as:

Seamless blockchain provisioning experience: Both Bluemix and Azure

provide a very simple model to create blockchain as part of its PaaS

environments.

Elastic scalability: BaaS models simplify the experience of adding and

removing nodes to a blockchain network.

Global availability: By leveraging technologies like Azure and Bluemix,

developers can provision blockchains in any region of the world. No

Page 4: Is Azure Blockchain Cloud the Future of Cloud Computing

restriction on time or geographical location for accessing the Ledger

details.

Interoperability with other PaaS services: BaaS models facilitate the

implementation of blockchain applications that leverage many of the

existing PaaS services in a consistent manner.

Sophisticated DevOps experience: The experience of deploying,

managing and operating blockchain networks becomes simpler in PaaS

environments.

Simpler programming models: By abstracting the underlying blockchain

infrastructure, BaaS platform should be able to offer simpler

programming models to create blockchain applications.

Stringent security measures: Ledgers cannot be viewed by unauthorized

party.

Universal access to all who are part of the transaction processing only.

Cost effective solutions – Database maintenance cost for the Financial

and Non-Financial Institution will be nearly NIL. Institutions will

overcome need to buy a bigger data base and space.

Effective disaster recovery solutions, transparency of data and

transactions, no data loss concerns.

Future of Blockchain Technology:

While Blockchain technology is most closely associated with cryptocurrencies,

the potential uses of the decentralized and distributed ledger software, which

can store complete transaction histories, are much wider. Applications in the

financial industry, real estate, back office systems and stock trading are all

being investigated by a range of companies at the moment.

You can contact our Cloud experts for more details on this latest cloud service offering at

[email protected] or call us at +91-80-4110-5555.