Huawei Cloud officially launched its Blockchain Service (BCS) for global use, after launching it for commercial use in China last month.
Now available on the international Huawei Cloud site, the service helps companies and global developers create, deploy and manage blockchain applications quickly and at minimal cost. Its global launch sets the stage for a distributed global blockchain platform.
Blockchain presents decentralization, resistance to tampering and traceability and creates trust among the participants in the transactions. As such, blockchain generates value when used in business applications in specific industry scenarios. Businesses in various industries are currently exploring blockchain applications, but the implementation of a blockchain on a cloud is not a new feat. In fact, developers must have a thorough understanding of blockchain technologies. Distribution also takes a lot of time.
Back in 2016, Huawei joined Hyperledger, the most influential open source project in the blockchain field, hosted by the Linux Foundation. Due to its continuous technical and code contributions in two sub-projects, Fabric and STL, Huawei has been recognized as the main maintainer of Hyperledger. Huawei is also the sole maintainer of Asia in these sub-projects.
BCS aims to take advantage of the Huawei Cloud container and security technologies and, according to the company, is easy to use, efficient and universally applicable. It can be used in data applications, Internet of Things (IoT), finance and other fields. Scenarios can be used in coverage data transactions, identity authentication, proof of information (such as real estate and education), remote health assistance, tracking of food sources, Internet of Vehicles (IoV) and IoT device management. It offers substantial assistance for the creation of a technological ecosystem and digitally transforming industries.
Huawei Cloud will focus on developing its blockchain platform to offer technical support to companies that develop blockchain applications and solutions.
According to the company, some of the main advantages are integrated compliance with Hyperledger Fabric 1.1 and Kubernetes, with simple configuration, implementation in minutes and E2E O & M multi-angle automatic; Multiple efficient consensus algorithms (over 5,000 TPS) and flexible switching, dynamic joining or abandonment of nodes and multi-role members and container-based physical resource management.
It is also said to offer a significant cost advantage with lower development and deployment costs, pay-per-use convenience, reduced O & M costs with unified management, automatic scaling and on-demand upgrade / rollback.
The service also brings security benefits through the complete management and isolation of users, keys and permits; Multilayer encryption and privacy assurance and fully proven computer security infrastructure.
According to Huawei, using BCS, a company can establish a blockchain system that is perfectly suited to its business in just 5-10 minutes.