In my previous article https://steemit.com/blockchain/@topchuqs/blockchain-technology-a-tool-for-business-and-regional-integration-in-africa titled Blockchain technology a tool for business and regional integration in Africa, i talked about what blockchain is, and how it can promote regional integration in Africa. I sited what the blockchain technology is and what is not, and how its robustness can help us achieve both financial and economic gains.
However, today we are discussing about Blockchain technology as a service(Baas).
What we need to know about the BlockChain technology
Blockchain provides security
The blockchain technology is often seen as tool that prevents cyber-attack due to its encrypted nature of information sharing.these build provides a means of cleaning and blocking security mess.it is also the center were many apps are now anchored because of the extra security layers it provides for applications running on it.it also can be used to digitally check the integrity of a system or ownership of assets and other resources on the internet of things ecosystem,
Proof of work
The proof of work allows transaction consensus. it is simply a piece of information difficult to produce but easy to be verified and track by others after certain condition is satisfied. what it does in blockchain technology is that it ensures the next block is the one and only true version of the truth
Nonce value in blockchain technology
The nonce value is usual used to prevent double spending in a single process, the system tries different values and each hash recomputed for each of the subsequent transactions until the one with the required transaction is met.
**Integrity of history **
Blockchain maintains the integrity of a system by maintaining a historical record of all transactions an data and it isn't dependent on a central authority. Although its a disruptive technology, it allows for records and provides immutable(indestructible) historical records of transactions in form of secured hashed based history.
How the proposed Blockchain as a service system will like
Our proposed system consist of a Web UI at the client side, with firewalls and private and public key
encryption provided on cloud as a distributed database service.Monetization and transaction fees, are a way of generating revenue and rewards for the system .
WebUI------>BrokerAPI---->CloudFounder------->Ethereum
They are usually done by Bash CLI
Why blockchain as a service
Emmergency of private blockchain Network: A system to securely carry out financial or other form of transaction within a small group of trusted individual assets with a smart token exclusive to only members of the network.
Cloud Service provided by Major providers: Microsoft Azure Marketplace, Oracle Cloud services, Amazon and Deloitte now has a Baas offering for cloud applications
Allows enterprise tested distributed ledgers: for relatively small cost especially for companies that dont want to make large expensive in getting hardwares.it can also save time and admin cost.
