Such a massive array of ICOs, terminology, and functionality makes transitioning to blockchain technology not only significantly harder than many anticipate, but also incredibly costly. BaaS or Blockchain-as-a-Service is the cost-effective solution to global blockchain adoption.
THE HYPE OF BLOCKCHAIN TECHNOLOGY
Online news outlets, mainstream channels, even your local paper; all of them are talking about blockchain and the hype surrounding this revolutionary digital technology. With good reason too; the integrity, security, and decentralised nature of blockchain ecosystems make them a technologically superior method of managing transactions in a scalable format.
For multinational companies, small businesses, or individuals to adopt blockchain networks, a new type of service exists that is gaining outstanding traction: BaaS. Tackling the technical and financial outlay required to set up a blockchain, blockchain providers manage and customise blockchain systems for companies, rather than businesses doing it themselves.
BLOCKCHAIN TECHNOLOGY CAN BE RISKY AND EXPENSIVE
Blockchains are revered for their immutable nature, public and private key encryption, and block cryptography, however, all that security requires constant auditing of both transaction integrity and the activity of nodes connected to the network. The skill, expertise, and resources needed to manage these aspects can often be impossible to source internally.
As such, blockchains that provide a service take care of all the “back-end” work associated with a blockchain’s initial setup and maintenance, in exchange for a fee. With the right blockchain solution, it is possible for every business, regardless of the industry, to formulate a logical and cost-effective business case for blockchain integration. Security risks, significant financial cost, and the substantial resource cost of running a blockchain are outsourced—in much the same way companies currently outsource recruitment, consultancy, and cloud-based services on a daily basis.
THE FUNDAMENTAL PRINCIPLES OF BAAS
The recent surge in popularity of blockchain and cryptocurrencies is both a blessing and a curse. Greater interest is being shown in the technology, but at a relative rate to the number of new and exciting features that fledgling ICOs claim to offer. To cut through the static of misinformation, we first need to understand how BaaS works.
An external provider maintains the core principles of a blockchain network. This usually includes: bandwidth management, allocation of resources, security protocols, and any hosting requirements. The client agrees for the provider to manage these aspects of the blockchain in exchange for a service fee. The infrastructure is facilitated by the blockchain provider, leaving you, the client, to focus on blockchain functionality and encouraging a consortium of users.
With the right aftercare, technical support, and blockchain functionality, it is possible for the technology to become an integral part of a business model, rather than a financial risk. While some blockchains offer the basic level of service listed above, Rebellious provides an unparalleled suite of tools and services to aid successful blockchain integration.
WHAT SERVICES DOES REBELLIOUS OFFER?
Built on a proof-of-stake consensus, running a regular node or master node requires an investment of collateral to encourage the authorisation of legitimate transactions. To further build upon this blockchain model, Rebellious maintains a master chain, which in turn has standalone client chains feeding into it.
Imagine the following scenario: Regardless of total headcount, your business has a use case for an internal token that can be awarded to colleagues once a programmable set of parameters have been met. You need a secure system to track and maintain a record of token deposits, total balances, and want to ensure that none of the token balances can be manipulated. A Rebellious client chain provides access to a standalone blockchain network and decentralised ledger for the recording and verification of your company’s token scheme.
To facilitate the BaaS model, Rebellious provides configurable value for tokens; your particular token can have a value based on the needs of your business, rather than a token value that is impacted by a public market. At a senior level, centralisation settings can be modified according to your community, while the entire BaaS package comes complete with audit tools and an end-to-end service from Rebellious that covers blockchain integration, maintenance, infrastructure, and security. Adopting blockchain technology just became a must-have asset for your business—without the technical or financial risk.
REBELLIOUS GOES EVEN FURTHER
The blockchain service that Rebellious provides is already superior to an enormous amount of competitors. However, to foster widespread use of blockchain technology, Rebellious goes even further. The master nodes we referred to earlier, they possess some incredibly powerful tools for auditing and security.
If you are running a private environment, master nodes act as the custodian for legitimate transactions on your network. In exchange for a master node fee that the client pays in Rebellious tokens, a REBL master node holder will provide block integrity checks, in turn earning themselves a reward from both the master and client chains. Not only does this model further build upon the proof-of-stake consensus, but it encourages the healthy ecosystem of token distribution throughout the entire Rebellious network. You receive stability and peace of mind in the security of your private system, and master node holders are rewarded for providing sufficient services.
HOW BAAS IS ENCOURAGING WIDESPREAD COMMERCIAL USE
It is easy to understand now why BaaS is becoming an essential means of integrating blockchains into business models. Technology giants IBM and Microsoft have already developed in-house BaaS to provide internal and external functionality. The beauty is that blockchains are entirely scalable to the needs of the client. You could have 20 colleagues or 1000; for the client chain to be effective, those colleagues just need to be active on the network. If the idea of such a fully comprehensive service appeals, but you are not sure where to start with a business case for blockchain integration, Rebellious provides the ultimate solution.
Our consultation process includes discussion and planning of how a client chain could be built into your company’s infrastructure, how that solution would integrate with your current operations, and which features would be most suitable. Rebellious isn’t just a blockchain service; it is an end-to-end solution to blockchain integration that has the wants and needs of your business at its very core. The success of your business is the success of ours!